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Questions about XUN and it's future

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xungover
Posts: 3
Joined: Fri Oct 20, 2017 8:31 pm

Questions about XUN and it's future

Post by xungover » Fri Oct 27, 2017 10:04 pm

Hi,

I have a few questions about XUN. I'm excited about the prospects of this cryptocurrency, it seems to promise a lot. Forgive my ignorance if these questions have been answered/communicated elsewhere.

I'd like to break my questions down into a number of sub-sections, mostly for the benefit of other users who value this movement and technology, and who may want to add to the questions I've asked.

1) - Market and Purpose: 
I've read through the intro blurbs on this part of the forum, but could I ask again, who is the market here? Is this a niche market or will it have mass appeal? What are the reasons behind it?
I know XUN is a clone of XDN - what's different or going to be different about XUN? Why do you think you have the best way of addressing the market? What differentiates you from everyone else?

2) - Technology:
What does the technology landscape look like for XUN in the next year, 2 years and five years? 
What advancements are you hoping to make? 
Do you have a plan of action and a roadmap?
Will this be a CPU-only mining currency for it's duration or will it open up to GPU / ASIC mining?
Are you starting to recruit (or have you already) community members who are ready and able to support and help develop the currency?
What are the technological needs in order to make this a success and ensure the intended uptake of the currency?

3) People:
Do you have a marketing plan?
Are there partnerships in the pipeline?
What about finding and targeting people who need to use this currency?
Who are the developers? Why should we trust you? 
Are you planning on running an active blog? What about social media, Reddit, Steemit?

4) Funding for Development and Support:
Is there bank-roll for this?
VC?
Will you (devs) follow the more traditional model of mining and then cashing out in order to fund the development?
What are your projections for the 1st year, 2nd year etc?
Financially, what will make this a success? What are the figures?

5) Time:
Can you as devs and support ops continue to do this for the 30 years proposed? How about after that?
What does the cash burn rate look like? How much money is needed to get this up and running? How many people are needed to make this a success?

Please forgive me if you feel I am being pedantic, that's not my intention. I am genuinely, and very truly willing, to invest time and money into this project - it is in my interests that this is a success. I would love to see this currency take off and set the standard for the cryptonote protocol and what it stands for.

Xung



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Nichop
Posts: 53
Joined: Sun Oct 08, 2017 8:02 pm

Re: Questions about XUN and it's future

Post by Nichop » Sat Oct 28, 2017 5:56 pm

Hi, Xung,
Thank you very much for taking the time to check out XUN forum and engage with us. Your sincere interest to get onboard this new adventure with us is furthermore deeply appreciated. In order to help you gather the best information possible to facilitate your decision making process, I will answer your questions block by block as you posted. Like you said it is in our total best interest to make sure that the value proposition of XUN is clearly communicated. Nevertheless if I miss a point or two I kindly invite you to read our whitepaper from our website
www.ultranote.org
https://ultranote.org/WHITEPAPERULTRANOTE2.0.pdf
 
First of all allow me to introduce myself and the XUN team, I am NichoP one of the team members of XUN acting as head of business strategy. I am an entrepreneur and cryptocurrency activist with a finance background of 8 years experience as an equity trader and investor. As you know blockchain technology is decentralised so even though I am known as the head of business strategy on this project, same rule applies to me as well as any of the team members we do not own nor manage XUN.
Furthermore on the opposite to other cryptocurrencies who go for ICO or premining in order to secure their load of coins or profits even before you see your 1st coin at XUN looking to create a fair and egalitarian ecosystem We have not premined any coins nor we are doing an ICO. In other words the development team same as anyone else getting on board with XUN has the same fair chance to benefit from the growth of the project. XUN Dev Team has not in any way placed their best interest above of the community. If you have a more powerful computer than me or mine more hours than me for example you will for sure end up with more XUN coins than me. This is a very rare opportunity where any miner can have more coins than a development team member simply by mining the coins without going to buy them on the open market. The XUN development team is here to lead the project and make sure that XUN is always well looked after and gets the support it deserves to grow.
As long as the XUN team is concerned we are 10 very talented individuals from different backgrounds going from IT engineers, graphic designers, PR experts, to business managers. As compared to other cryptocurrency development teams which are mainly composed of IT engineers, the XUN team already has a massive competitive advantage to grow exponentially due to the pool of talent we can take advantage of. As you have probably noticed most of cryptocurrencies are dormant or ‘’dead’’ simply because the development team has no expertise apart from coding and mining. They develop the coin and let it sit not knowing how to make it grow and rely on the good will of the community. This will not happen to XUN.

1) - Market and Purpose: 
I've read through the intro blurbs on this part of the forum, but could I ask again, who is the market here? Is this a niche market or will it have mass appeal? What are the reasons behind it?

The market for XUN is limitless. AS long as someone wants to get privacy in his life he can use XUN. What do you need privacy for? Talk to people you love and send money right? All the other things are up to you to decide what to post on social media or what do you do on the streets. Money and conversation are the ultimate reasons for privacy and we provide both of them.
In the future we will look at implementing XUN on corporate communication level where for instance it could replace expensive instant messaging and file sharing costs for firms dealing with sensitive information but this is on another level. XUN is very versatile it is not a niche product for instance parents can send their kids their weekly lunch money on the XUN wallet and they can use it to purchase their candy or other goodies with it. Just imagine if you could have some cash on your whatsapp. You could freely message your relatives and talk about private stuffs without the fear of being hacked and furthermore send them a few dollars for their birthday. Lets imaging you are out and you need money. You have no bankcard no wallet. With your phone a relative could send you a few dollars to take a taxi back home or have food. Children or elderly could safely use their phone to store their money. Someone can steal their phone but not their money since they only have the key to open the mobile wallet. With the interest paying deposit facility kids could learn how to save money and gain capital gains to become financially literate.
The regular social media platforms or regular messaging platforms are plagues with backdoors for government ear dropping and regular financial regulators have control over your hard earned cash when you use banks. Why does it matter to the government if you want to send a private picture to your family members or send them 1000 dollars? It’s your money you are entitles to be free to do whatever you want with it. But NO you need to justify yourself to random people you have to trust Banks. Why not trust yourself and send the 1000 dollars to your family in full privacy without having to explain yourself to anyone? This is what we want to allow people to do. The banks charge massive fees and if you want to save money at the bank with inflation higher than interest rates on deposits you are paying the bank to keep your money and allow the banks to moreover make profit on your head while you are losing money. Save 1000$ at the bank in 1 year, your 1000$ will be worth 980$ without taking into account the fees. XUN provides you with deposit facilities paying interest rate and while fiat currency depreciates XUN will appreciate due to capital gains as mass adoption grows. We are giving people of any race, gender, social background or location the same chance to get control over their finances and communication.
 

I know XUN is a clone of XDN - what's different or going to be different about XUN? Why do you think you have the best way of addressing the market? What differentiates you from everyone else?

 
XUN is a new code and it is not a clone of XDN. Even if at the start we thought it would be easier to clone XDN; we discovered that XDN is plagued with issues and errors which does not make it a viable code anymore. Not a surprise the price is at the all time low and the Dev or Devs are not giving any sign of life. At XUN we decided to rebuild a new code from scratch to ensure that we have a perfectly working code without having to address tons of issues like the team had to do when they were helping the XDN community.
We want a stable and growing coin not a quick money making machine (do an ICO and run away with the community money). The XUN team is composed by the most active group of indiviuals from XDN community who were helping on every level since Dnote disappeared but got fed up with all the FUD going on in XDN. We moved on now and has no link with XDN anymore; XDN became a ship without a capitain or even a rudder. The team tried to save XDN but nothing could be done. The Devs were absent and did not care. We even invested our own money to save XDN but this is old story now.  So we decided to leave and start a project which would fulfil a real purpose and give a proper chance to everyone who lost money believing in XDN to finally get what they deserve; A trusted reliable coin with anonymous and untraceable features. I am not trashing XDN do not get me wrong but this is pure truth and who ever knows XDN well will know what I am talking about.
We are the best simply because we are a team who understands the technology, a team with solid hands on experience with all the issues experienced by XDN so we know exactly what can go wrong and how to fix it. We know exactly what to expect from such a project and what we can do with such a powerful tool. The only thing we share with XDN or other cryptonote coins is the cryptonote technology nothing more.
XUN team is among only a few cryptocurrency which has such an extensive range of field experts. But these other coins run ICOs and preming which gives them a head start over the community which is understandable but not really egalitarian after all since they are sure of making massive profits while the community takes all the risk in buying in. So again we are better than them in being egalitarian. We may be perceived as a small team as compared to other coins but the truth is that it is not about how big the team is, it’s all about how good and dedicated the team is.
Apart from XRY and XDN we are the only coin who has messaging facility. The XRY code is not profitable for miners you get 0.40 coins per day mining if you have a decent computer and both XRY and XDN codes are not optimum ( I will not elaborate simply because I do not want to trash any coin, I am just stating the truth and answering your questions). Now we are left with only XUN so there is nearly no competition. Monero or BCN are very good coins but they do not offer messaging. Monero is trading at $90 expensive right? BCN has a total supply of 183 Billion coins with 8 decimal places and we have 85Billion supply with a 5 decimal place code. Our supply is better than BCN and competitive with Monero.  XUN have 32000 blocks with a block target of 2minutes and a perfectly working code. We are not doing premining so you have all the time you need to gather as much coins as you can without having to put 1 cent from your pocket. Do you identify our position now and why we are the best? Of course you can... Thank you.




2) - Technology:
What does the technology landscape look like for XUN in the next year, 2 years and five years? 
What advancements are you hoping to make? 

Cryptocurrency is still at an infancy stage right now and the opportunities are limitless. As specified in the whitepaper as well as above we are looking to democratise the financial system and give people a real change to do something positive financially as well as having a private reliable communication channel. XUN will be an international cryprocurrency with laptop and mobile wallets to facilitate transactions anywhere anytime worldwide. Moreover as being a decentralised it’s open to anyone to develop new applications for XUN to help it grow. We are negotiating with partners to grow the network exponentially but I cannot disclose anything yet. We do not want to create any pumps or over excitement. The market is volatile enough like it is. We want to build trust and growth stability it’s useless to talk and pump the price to whatever level and then see corrections. Also we need to stay focused on our field of expertise. Facebook has nearly 10 years and YouTube approx 12 years. If the same question was asked to them when they launched they would probably say become the number one in what they do which is social media or content hosting. But what are they doing more than just allowing people to share content right now after 10 years? Nothing more. They have just perfected their craft. The same applies to XUN.  If down the line we can implement new applications to optimise XUN we will as our aim is to perfect our craft and be the best in what we do.

Do you have a plan of action and a roadmap?

Yes we have a roadmap please check the whitepaper and website. Short term would be grow the community by encouraging mining and engaging on social media. As soon as we have a good amount of users we will launch the GUI wallet in January 2018 and grow from there. We in negotiation with merchants and partners to grown the network but we need to open mining and launch the GUI wallet to facilitate users education. Again cryptocurrency has a lot of unknown and uncertainty it will take time to educate every stakeholder but we are putting all the necessary efforts in doing so in due time. We will carry charity events as well so as to encourage the less fortunate to engage with us and see how they can grow financially. Furthermore I personally have a solid network of actors in the different relevant fields necessary to grow the community.
 
Will this be a CPU-only mining currency for its duration or will it open up to GPU / ASIC mining?
No XUN will only be mined using CPU. XUN is for an egalitarian ecosystem build for the people of the world. We do not want anyone to exploit the system and get control over the supply of XUN using high end equipments.


Are you starting to recruit (or have you already) community members who are ready and able to support and help develop the currency?
We have already built a network of individuals and partners to collaborate on the project with us. Unfortunately I cannot disclose anything yet since we are still on negotiation. Again we will have to open mining and get the coins in circulation in order to be able to launch the network. Everyone is most welcomed to contribute.

What are the technological needs in order to make this a success and ensure the intended uptake of the currency?

I am not sure what do you mean as technological needs. We are an anonymous and untracreable cryptocurrency which allows people of the world to message and transfer funds to their family members with total freedom. For the short term once the necessary wallets are implemented, the remaining technological needs are quite straight forward.  We are not operating a mining farm. The technology is blockchain which is decentralised. As long as we have users and computers connected to the network we are running.
 XUN expenses can be taken care via donations from the community and personal investments from the Devs. For now we are releasing the CLI wallet at launch and GUI wallet in January 2018. We are going to launch the smart phone wallet later on but It will all depend on how much funding we can get. As you understood the team has not premined any coin or has not done an ICO so we will be as rich as anyone else mining with us.
If the devs need funding to implement new applications which will be the case for sure; the development team will have to sell their personal coins to make developments so donations are most welcomed to help build up new applications. I know many people will want to see loads of things happening quickly while holding to their coins. But the community need to be reasonable and not expect too much free lunch. As you have understood we are very generous in our actions. We are not filling our pockets with the community money by doing ICOs or selling premined coins to cover for expenses. Since it’s a decentralised system costs are not too high and with reasonable donations from the community matched with the contributions from the dev team we will be doing fine.

3) People:
Do you have a marketing plan?

Yes we have a marketing plan. Without a marketing plan it would be worthless to start a project. The simple fact is that cryptocurrency is still at its infancy stage which means that how far we can implement them is very complex but also limitless time will tell how far we will go. But stay assured we will always strive to be the best in what we do. Some ideas have already been elaborated on above and you can furthermore refer to the whitepaper for more details.

Are there partnerships in the pipeline?

Yes we do have partnerships in the pipeline but again I cannot talk much about the negotiations simply because we do not want to create any pumps or excitement which would create too much unnecessary volatility.

What about finding and targeting people who need to use this currency?

This currency is targeted to anyone who wants to get a real chance to make positive financial changes in their life with the added benefit of being offered the possibility to be anonymous and untraceable.  Please refer to my answers above about people who may be interested in XUN.

Who are the developers? Why should we trust you? 

Trust can only be build with time and proof of work. Nobody knows Satoshi Nakamoto but everyone is now excited about Bitcoin. If it was back to $1 a Bitcoin everybody would be loading up on BTC. Why because even if he is unknown his code was proven to deliver.
Nowadays there is loads of ICOs. I  do not know if you ever bought in an ICO but If you think it’s worth to trust someone you never met and send him your  hard earned money with the expectation to receive some coins in exchange; Why not trust XUN? We are not taking even 1 cent of your money we are just inviting you to joins us mining with us and use the coin. Experience it by yourself and stay long enough to see XUN grow. There is no obligation here. We are the only one who gives you the opportunity to make some financial progress without having to take any financial risk. You do not know personally your supermarket baker but you still buy bread from them with your hard earned cash. Why do you trust him he could have poisoned your bread. See what I mean?

Are you planning on running an active blog? What about social media, Reddit, Steemit?

We are building an active community around the project. But before building a blog and social media network we need to have a properly working coin. Many other coins have active communities and social media blogs but the coins are worth nothing. They focus on creating buzz and do ICOs. Then nothing more happens after the ICO they take the money and sit waiting for the community to do the job. Do not worry we are taking the most efficient approach on the subject. We prove ourselves first and then build the social media buzz around XUN. Bitcoin proved itself first and then social media followed automatically. Nevertheless please check our website we have the links to our social media network. They will be updated in due time. 

4) Funding for Development and Support:
Is there bank-roll for this?
Venture Capital?

No there is no venture capital or bank backing on XUN. XUN is a decentralised egalitarian project. A bank roll or equivalent would give a definite level of control over supply and liquidity to particular group of individuals. We do not want anyone to have monopoly power over XUN. XUN is for the people and everybody should have an equal chance.
The funding for development will be only from the Dev team and the community through donations.



Will you (devs) follow the more traditional model of mining and then cashing out in order to fund the development?
Yes definitely. We are not premining or doing ICOs we are mining same as everybody else. We will have to cash out (sell) our personal mined coins to fund the project and hope that the community will be generous enough to contribute with us via donations. With a big community, 1$ per user each month can do a lot in helping us make this XUN be a real winner. Of course there is no obligation in doing so but the more donations we get the faster the projects will be implemented. Win win situation for all of us.
 As I said earlier we are focused in giving everybody poor or rich a fair chance to succeed financially and enjoy a true level of privacy in their messaging habits. If someone has only $1 every month to put in XUN we do not expect that he will donate his full $1 or even a fraction of a cent. We will encourage him to save even more and why not help him acquire more XUNs. We are not a charity but we care about making the world a better place.Until now the project has been funded by the Dev team only.

What are your projections for the 1st year, 2nd year etc? Financially, what will make this a success? What are the figures?

Cryptocurrency is still at an infancy stage and everything is possible so to be fair we cannot guarantee anything or disclose any figures. It would be easy for me to tell you that since we have a faster blockchain than Monero or Bitcoin, a messaging system which none of the other major cryptos has we are better than them so should make us as appealing as them. Based on supply and demand with an XUN supply 40X the supply of Bitcoin I value XUN at $1.  But this is unfair and impossible. XUN is for the people it will be up to the market to align their demand vs supply curve to establish the price. The only thing I can say is that XUN will be listed on exchanges at a very affordable price, again allowing those who have not been able to mine XUN to buy XUN and furthermore give the market total freedom to fix the price. If you look at coinmarketcap.com you will see that many coins after their ICOs saw a massive pump before now trading below their ICO price. Was the ICO over priced? Certainly and were the Devs wrong or greedy about their pricing? Probably. Again we do not intend to create over rated expectations. We simply expect our capital appreciation to be a more linear chart as mass adoption develops instead of a wavy pattern.
Creating Bitcoin, Satoshi Nakamoto knew Bitcoin would be huge one day but did he expect people would speculate Bitcoin may sell for 1million dollars per unit in a few years? I do not think so.
The only thing we know is that we put everything necessary to make XUN a success. Put together the whitepaper you will get a good idea of what is cooking for XUN. If you mine the coins and sell them on exchanges you are making a sure profit since you did not invest 1 cent from your pocket. You are using your laptop or normal computer so it’s not taking any extra power or anything extra. Your cost acquiring XUN is nearly 0. 




5) Time:
Can you as devs and support ops continue to do this for the 30 years proposed? How about after that?

A cryptocurrency is like a plan on autopilot it can manage itself and will fly as long as there is fuel to run the engine and a pilot to check on it from time to time. Like Bitcoin no one owns Bitcoin or manage Bitcoin. As long as there will be miners and a community to help it grow it will grow. In cryptocurrency the fuel are the miners and the pilot is the community but mainly the Dev team since it’s the Dev team who makes sure everything is running fine. XUN is an open source project and if one day the Dev team is not capable for any reason to continue taking care of the project it is not a problem for another Dev team to take over the project and continue what we have started.
Until now it is not on our mind to drop XUN at any time. We are a young dynamic Dev team who are passionate about what we do and will keep running XUN for as long as we live. 30years is just the mining period. XUN will be there for eternity as long as there is a market for it. It is our aim as the Devs and the community to help this market grow. So Yes we are in for as long as we can 30 years or more. As soon as mining is open XUN will run on autopilot. The Dev team will make sure there is always fuel to keep the project running and a pilot to make sure everything is running fine. Dev team will also develop the partnerships and the network with the help of the community. XUN is not a belonging of the Dev team it is for all of us.

What does the cash burn rate look like? How much money is needed to get this up and running? How many people are needed to make this a success?

A cryptocurrency is dependent on the community as much as the dev team. The cash burn rate of the dev team is not applicable here since it’s the responsibility of everyone to make it grow. If someone wants to develop an application for XUN at his own will, He can do so thus it has nothing to do with the dev team cash burn rate. If the dev team do not have enough money to implement a plan we will have to raise funds through donations from the community or selling our coins. But there is no real cash burn rate as in a regular business.
I see from this question that you are taking it from a business perspective and want to know how much money we need to keep XUN alive. XUN will be alive as long as there is a market for it. As the dev team together with the community it is our plan to look after XUN and make sure that we have a market for it and make it grow. But this growth can also be fast tracked by any one. When someone holds gold he does not think about cash burn rate of the mining firm he just holds it. If the gold mine owner dies or goes bankrupt someone else take over the mine. Same applies for Cryptocurrency.
Xung I hope that my answers to your questions will facilitate your decision process and furthermore encourage you as well as everyone reading this to get onboard with us. XUN has been created by the people for the people. We all want to be successful in life but helping to make the world a better place with fair chance for everyone is not easy. Blockchain technology has allowed us to create XUN so that we can do something right for ourselves, our friends and future generations. I invite you to share and spread the world about XUN and be among the first people to contribute in this life changing opportunity.
Thank you very much for your kind and sincere interest.
Best Regards
NichoP and XUN team.

 

xungover
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Re: Questions about XUN and it's future

Post by xungover » Mon Oct 30, 2017 6:46 pm

Thank you so much for going into that level of detail. By answering my questions you've reduced my (and probably most peoples) FUD to almost nothing.
I really am excited about this and want to help out where I can. I can tell from your response that you're passionate about XUN, and I imagine it is shared amongst the team; that's very encouraging.
I'm sure I will have more questions in time. Thanks

Don't wanna be that guy, but it does say that XUN is a clone of XDN on your blog: 



Xung

p.s - Your answers were so detailed that you could make a blog post from this; I'm sure other people would enjoy reading it.

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Nichop
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Re: Questions about XUN and it's future

Post by Nichop » Thu Nov 02, 2017 9:07 am

xungover wrote: Thank you so much for going into that level of detail. By answering my questions you've reduced my (and probably most peoples) FUD to almost nothing.
I really am excited about this and want to help out where I can. I can tell from your response that you're passionate about XUN, and I imagine it is shared amongst the team; that's very encouraging.
I'm sure I will have more questions in time. Thanks

Don't wanna be that guy, but it does say that XUN is a clone of XDN on your blog: 



Xung

p.s - Your answers were so detailed that you could make a blog post from this; I'm sure other people would enjoy reading it.
This part of the statement was made to allow people to better understand where we started and then in answering your question I clarified that the XDN code is broken and that the only similarity we had with them was a part of their code which relate to the cryptonote blockchain. A clone is a copy paste of it. XUN is not a copy paste of XDN. They now share the same DNA but we are not a clone per say anymore. They can be considered as brothers since they have the same DNA but they are not twins or clones per say. I would suggest no focus on tiny details and experience XUN with us. You could find many other opportunities to get cryptos but non of them will give you the opportunity the same way as we are.
Cheers.

inkhatep
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Re: Questions about XUN and it's future

Post by inkhatep » Wed Nov 08, 2017 7:47 pm

Greetings, I have such a question, when will XUN go to the crypto-exchange?

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Desp
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Re: Questions about XUN and it's future

Post by Desp » Wed Nov 15, 2017 2:35 pm

inkhatep wrote: Greetings, I have such a question, when will XUN go to the crypto-exchange?
Soon, We are working on getting XUN listed on exchanges.

punk_yaj
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Re: Questions about XUN and it's future

Post by punk_yaj » Mon Nov 27, 2017 8:18 pm

most of my questions are answered as well. I am all out on supporting XUN!

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Desp
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Re: Questions about XUN and it's future

Post by Desp » Mon Nov 27, 2017 8:21 pm

punk_yaj wrote: most of my questions are answered as well. I am all out on supporting XUN!
Thank you very much, Welcome to the forum.

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MagnumPI
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Re: Questions about XUN and it's future

Post by MagnumPI » Mon Dec 11, 2017 3:55 am

Agreed, thank you very much for responding in that level of detail. Very rare to see this from a dev team, and only gives me more hope about the future of XUN. I only now stumbled across this post...but a must read for anyone curious about this development!
Xun3ji9jf1TX1s54EWBs7MWSG5bTuQCUXHC8JXgPSpqb9rWkwhA2t2GgBhG58WtSwmbxF9Qqxps32M9zBnWJES5m4sjkYZsx3E

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Nichop
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Re: Questions about XUN and it's future

Post by Nichop » Mon Dec 11, 2017 12:22 pm

MagnumPI wrote: Agreed, thank you very much for responding in that level of detail. Very rare to see this from a dev team, and only gives me more hope about the future of XUN. I only now stumbled across this post...but a must read for anyone curious about this development!
Hello Magnum,
Very happy to read your confidence into XUN. Please also feel free to join the Dev team and more community members on the Discord channel there is almost at least 1 dev team member available to help you with questions etc.
https://discordapp.com/channels/3840481 ... 9423194133
Cheers

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