Bitcoin Forum

                                                                                                   The OmniBazaar system includes a built-in cryptocurrency called OmniCoin.
                                                                                                   OmniCoin has the following features:
                                                                                                      • block processing time less than 10 seconds,
                                                                                                      • ability to process tens of thousands of transactions per second
                                                                                                      • users can address transfers to a name, not a number,
                                                                                                      • Proof of Participation (PoP) consensus protocol,
                                                                                                      • an influencer marketing system,
                                                                                                      • distributed social messaging,
                                                                                                      • reputation tracking,
                                                                                                      • escrow agents, and
                                                                                                      • bonuses to provide user incentives for participation and growth.


                                                                                                    OmniCoin Technical Information The breakdown below is a list of functionalities currently provided by our software.
                                                                                                    Having a functioning, usable, distributed marketplace platform sets us apart from the competition.
                                                                                                      • Blockchain Security: Proof of Participation (PoP)
                                                                                                      • Total Supply: 25,000,000,000
                                                                                                      • Block time: 10 seconds or less
                                                                                                      • Scalable to tens of thousands of transactions per second
                                                                                                      • Easy Addresses: Send/Receive to an account name, not a number
                                                                                                      • Distributed Escrow
                                                                                                      • Distributed Chat
                                                                                                      • User Reputation System
                                                                                                      • User Acquisition Incentives
                                                                                                      • Referral Rewards


                                                                                                    Proof of Participation (PoP)
                                                                                                    Proof of Participation (PoP) is a new cryptocurrency security protocol. One component of PoP is the Distributed Proof of Stake
                                                                                                    (DPoS) protocol of Bitshares. We have extended and expanded DPoS by including four other metrics. The software uses these
                                                                                                    metrics to determine which group of users may process transactions. PoP entrusts the processing of transaction only to the
                                                                                                    most active marketplace users. These users would have the most to lose by trying to hack or attack the blockchain. Following
                                                                                                    are the Proof of Participation metrics used to select Transaction Processors:
                                                                                                      • Trust (DPoS votes by other users)
                                                                                                      • Reputation score in OmniBazaar marketplace
                                                                                                      • Activity as a Disseminator (number of new user referrals)
                                                                                                      • Activity as a Publisher (number of listings published for others).
                                                                                                      • Reliability

We will add XOM after you guys launch.

Good luck.

EmpoEX Team

Launch on December? Keeping my eyes on this thread. Good luck XOM team  :D

Thanks for your support. Please spread the word.

This is happening, but we need community support. The more support, the faster it will happen.

What horrible photoshop skills.

Did these devs/scammers produce the 'screenshots' in Windows Paint?

Inconsistent Text Alignment, Blur, Border Color bleed, etc...

wtf lol what a bunch of amateurs.  :D :D :D Even the Stackcoin 'screenshots' were move believable. Scammers usually learn from other scammers. You must be new.

Try harder.  ;)

This is the first crypto-marketplace that actually looks well-planned and properly articulated. I'd back this before any other similar offering.

yes of course the XOM Defense Force would consist of Newbie accounts.

Who would've thought??  :o ;)

so use your real account instead of hiding behind a newbie account.

keep trying to promote this bullshit.

In the meantime work on your photoshop skills amongst other things. BCT members arent as gullible as they used to be. You're going to have to try a bit harder to scam the masses.

Ahhh...so you actually have to use a REAL ACCOUNT here?  Imagine that.

I am, turbo, so pump the brakes on your assumptions.

Nothing wrong with backing a concept without being a Senior Member or an old school BCT account holder.

Looks realy nice , once there are coins , bounties , giveaways or an ICO aviable I will be back :)

20B is creazy. investors can not earn money when it over 2sat .id better pass it.

Please see this from the FAQ on the original post:

Wait a minute! Are you saying you plan to dump 20 billion OmniCoins onto the
market when OmniBazaar launches?

No. The number of coins in circulation will be completely determined by how many people join and use the OmniBazaar marketplace.
We will give only a small (relative to the eventual 20 billion) number of coins to each person who joins OmniBazaar, and an even
smaller number of coins for referring a friend. We will distribute half the coins in this manner over, over the span of as many
months or years as it takes to distribute them all. We will distribute the other 10 billion coins as "reverse transaction fees" when
users conduct transactions with each other in the marketplace. In other words, during the initial distribution period, we will
essentially pay users a small OmniCoin bonus to buy or sell something in the marketplace.

We haven't finalized the numbers yet, but let's say we give 1,000 OmniCoins to each new user who joins OmniBazaar. This
represents one twenty-millionth (1/20,000,000) of the total eventual coin supply. That would be a much slower emission rate
than most other coins have. We could give 10,000 coins to each new user and still have a slow emission rate. We think this is
infinitely more rational and fair than most other recently introduced cryptocurrencies (especially the ones that generate all the
coins in just a few weeks to enrich the developers and their friends). And we believe this distribution plan will add liquidity at
the rate that is needed by the marketplace. As more people join, more OmniCoins will come into circulation. Similarly, we
estimate that users will do hundreds of millions of transactions in the marketplace before the "reverse transaction fee" pool of
coins is completely distributed.

20 Billion is a big number, but we plan to spread that over a large number of people over a considerable amount of time.

It's non open-source. OmniCoins are pretty much useless (bitcoins can be used). They are banning "prohibited" content (who will classify it as "prohibited"? What's illegal?). Not a single version or demo of this "working prototype". Looking for money before anything to offer.

Good luck guys, but I won't get closer to OmniBazaar. It is not decentralized when there is a group of developers working in a closed project.

I noticed from your crowd funding campaign that you plan on charging $25.00 for the market place software. You need to rethink that. Who would bother with that when kijiji, ebay and others are free to browse?

Also, when do you plan on giving us a working alpha/beta marketplace software for testing? With scams abound you will have to give us proof before you'll get any trust.

POD ? Coinsource?

POD would be good, this is very important in building users trust and confidence.

lol no. pod can't be trusted

OmniCoin will (of course) be open-source at launch (or before).

Yes. We plan to have some rules, like no murder-for-hire, no human trafficking, no weapons of mass destruction, no child pornography -- fairly sensible stuff. I trust you are not advocating that we allow those things.

Beyond that, we are designing a "self-policing" system that will allow people who are active users of the system to down-vote content that is either explicitly against the rules (mentioned above), or that they feel violates the spirit of those rules. If enough people object to a particular listing, then it probably shouldn't be there. This gets a bit tricky, however, if just anyone is allowed to come into the system and start voting down lots of stuff they personally disapprove of. So, our current plan is to allow a single down-vote for every (let's say) 4 or 5 successful transactions in the marketplace. Transaction info will be readily available on the blockchain, so we shouldn't need to store it. We may need to experiment a bit to find a self-policing algorithm that can actually catch bad stuff, without allowing vendettas or outside censorship. The one non-negotiable requirement for the system is that it must be decentralized, and can't involve any central authority. Do you have any constructive suggestions on how this can be done?

We will have a beta version of the marketplace app available for testing prior to launch. But, we are not going to release a half-baked solution.

Yes, we are asking for community support to complete the project. We have internally financed all of the development so far. We certainly aren't the first project to ask for funding before the release of a coin or a product. I doubt we will be the last. If you think the idea has merit, and that we have a good start, then pre-subscribe to the coin.

Where do you see a reference to $25 on the crowd-funding page?

The OmniBazaar base application will be completely free. Free to download, free to install, free to post listings, free to search and shop, and no monthly fees. The only cost will be the small transaction fees mentioned in the OP and the campaign. We do think we will probably charge some small fee for the CryptoBazaar anonymity feature, and for the distributed currency exchange. Not everyone will need or want those features, and we believe they will add enough value to be worth some small premium. And there is something to be said for making those features a little bit exclusive.

We will have a beta available for testing as soon as possible. But there is still some work to do before we are ready for a public beta.

You probably can understand that it is a bit of a "chicken or egg" situation. If we had more funding, we could get the beta (and other features) ready sooner. But, without the beta and features, . . . less funding. If it helps, you might notice that we are completely open about the identity of the team and about the company. We're serious about this and have been working on it for quite a while. We'd much rather get the project done than run off with your donations.

And, some people see what we are doing and decide they want an early shot at some OmniCoins. We believe it's a good bet.

First, I am required to say that investment in OmniBazaar is available ONLY to "accredited investors". If you don't know what that means, you probably aren't one.

Investment-related documents can be found here: http://omnibazaar.com/index.php/invest (http://omnibazaar.com/index.php/invest)

Our on-line investment site is on AngelList: http://omnibazaar.com/index.php/invest (http://omnibazaar.com/index.php/invest)

If you have any other questions, you can PM me on this site.

Thanks for asking.

Rick

We're going to go the Coinsource route. Give us a few days to work with them.

But, in the mean time, IndieGoGo has all of our contact information. And a few minutes of searching (or the link at the bottom of the OP) would take you to our website, which contains all manner of information about who we are and what we are doing.

Unlike many of the other projects on BitcoinTalk.org, there is nothing hidden about the project or the developers.

Your donations will help us move this project forward faster.

Thanks,
Rick

This does look like a great idea but OmniCoin as a name and coin does already exist here http://www.omnicoin.org/ .

Are you aware that there is already another coin using this name?

The OmniCoin you're referring to flopped bigger than shit.

The [XOM] OmniCoin that will actually get rolled out with OmniBazaar is definitely usable - I believe several other threads in this forum identified that particular product as a 'shitcoin'.  OmniCoin [XOM] was developed far earlier than what you're seeing (and has several pending patents).

I don't care about OmniCoin. It is an alt/appcoin that I won't use for sure.

I really care about OmniBazaar and CryptoBazaar. OmniBazaar should be open source. CryptoBazaar must be open source.

Good luck with your little project.

The coin is still going strong and is trading on an exchange so maybe naming after it you are fanboys then :D .

Yes. We're aware.

Edit: I had an appointment scheduled for a phone conversation with the Jesse (the owner of the omnicoin.org domain) to discuss this whole issue. But, Jesse never followed through with the call. The facts of this matter need to be sorted out. We have had several omnicoin-related domain names for over a year and a half, and have been working on the OmniCoin project for almost that long. We believe we have a strong case for a rightful claim to the name.

We had a trademark application for the OmniCoin name filed well before they launched their coin.

OmniBazaar will be open sourced after we launch and get some traction. CryptoBazaar... we'll see. At the very least, we will get the code reviewed/audited -- for our own peace of mind as well as that of the community.


Thanks. Best of luck to you too.

No, you didn't. You applied for the trademark in February 2014, whereas Omnicoin was originally released in December 2013. Please decide on a new name for your coin, because regardless of your opinion on our coin, it is a legitimate cryptocurrency supported by many members on HF and has a solid grounding. We realize there are some who voice their negative opinions of omnicoin, but we have recently restructured the Omnicoin team and are currently undergoing many new developments.

Please have a look at the posting date of this thread: http://www.hackforums.net/showthread.php?tid=3923174
You will notice that it was posted on 12th December 2013.

On Friday, February 07, 2014, a U.S. federal trademark registration was filed for OMNICOIN by OmniBazaar, Inc., Clearwater, FL 33758. The USPTO has given the OMNICOIN trademark serial number of 86187319.

So clearly we chose the name before you filed your trademark application. Please rethink your branding.

Thanks, Mesh.
Omnicoin Team.

Do you know OpenBazaar, what's the difference between OminBazaar and OpenBazaar?

OmniBazaar*  ;D ;D :P :P

Honor AGS and PTS,or BTS?

 ???

OmniCoin is already taken and is a pretty huge coin. Short name is OMC.
Yours might not be OMC, but it's definitely called OmniCoin.
Don't call it OmniCoin. It has already been taken and is one of the biggest community coins out there.

We had the name first no matter what you say.

Why you OP never do a little of search if there's any Omnicoin before you create such an useless thread. Omnicoin (the name, also the coin) is already taken. You can not use the same name, you must change the name of your coin.

They will probably change the name of the coin. They are using the coin to collect money from users. OmniBazaar might be useful. CryptoBazaar might be helpful. OmniCoin does not add anything to a system where you can use bitcoins instead.

Can you speak to the reputation system you are envisioning for this marketplace ? One of the things which made eBay a huge success is the reputation system, the feedback made public about transactions.

Really don't see the need for a new coin though. If the transactions are direct, without middlemen, the transactors (buyers and sellers) could decide which currency or coin to use.

Ignorance is bliss. Made more money on that coin than you've probably made online.

Your trademark application was made several months after the initial launch in 2013.

From the boss man:

Agree. Incredible that the OP and nobody on his team would do a simple search beforehand ...  Google: omnicoin site:bitcointalk.org  would have made them well aware the moniker was taken... :o

Hi Mesh,

This isn't the place for either of us to discuss the legal points of this. No amount of discussion back and forth is going to change the facts of the matter.

So, let's take this to PM.

Rick
OmniCoin Team

Yes. It's no secret that we are copying BTSX. (References to DPoS and TITAN are a dead give-away to anyone who knows BTSX.) But, we are also adding a few important features. Of course, OmniCoin will be open-source. So BTSX will be able to benefit from our work, just as we are benefitting from theirs.

Best,
Rick

We are building a reputation/rating system into OmniCoin itself, not just the OmniBazaar marketplace. We believe that for any reputation system to be reliable, and not able to be hacked and tampered with, the reputation information must be part of the consensus of the blockchain.

This is part of the reason for developing a new coin. If we provide enough useful features (like reputation and easy escrow) in the coin, and make it extremely easy to use in the marketplace, we believe it will become the coin of choice.

Two users could, as you point out, use any coin they might agree on (or even fiat). But, they would either need to know and trust each other, or figure out some other method to escrow the funds for the purchase. We intend to use the combination of OmniCoin features and OmniBazaar features to make buying and selling "frictionless".

Hmm...

I see on the OmniCoin.org web site that it clearly states that OMC launched in April 2014. Pre-launch discussions are different than use.

But, as I said earlier, this is not the place to discuss this. Nothing we say here will change the facts.

Best,
Rick

how much btc are you want?

The website speaks of v2. Omnicoin v1 was the initial coin, but we rereleased due to some major issues with v1 due to bad planning. v1 was released in December 2013. V1 was not a prelaunch discussion, it was a fully functional coin. I can see that it might be slightly confusing for you.

Do you envision a marking system similar to bitmark ?

That was the relaunch of it. If you did some research you'll see the original version was launched back in 2013.

From a quick look, I don't see very much similarity to  Bitmark. The page I saw didn't mention a marketing system. If you can fill me in a bit on what the marketing system is, I would be glad to make a comparison.

EDIT: I justs noticed that you said "marking", not "marketing". But, I'm not familiar with their "marking" system either. Care to give me the ELI5 version?

Best,
Rick

nice ann, looking forward to this coin!

I'm not going to comment any further here in the thread about the name issue. I am in communication, outside this thread, with the lead developer.

Rick

I'm not the one to best explain the details of marking, since I'm only learning about it myself. So I can't give the easy "Explain Like I'm 5" (ELI5) version just yet ! My understanding is that you transfer coins to a person or identity with an attached reason for doing so. Example: "transfer 100 marks to John for successful transaction" or "for answering question" etc.

I think I see what you are talking about, and the answer is yes. It is very easy for the sender to include in the transaction a message describing the purpose of the transaction, but this message will be visible only to the receiver. And the receiver of the transaction is anonymous to everyone but the sender. And, you can give people a simple name, like "Jane_Smith", as your receiving address (instead of an ugly string of numbers and letters).

I hope that helps.

Best,
Rick

what does prevent "users" from creating multiple accounts to get more coins? One person can "join" many times..

There is probably not a completely reliable way to prevent this type of Sybil "attack", but there are several possible ways to make it more difficult. If I recall correctly, for example, I think Stellar tracks IP addresses, and limits the number of accounts that a "family" at one address can create. I think they also restrict creating new accounts through TOR (which makes sense).

We have not settled yet on exactly how to handle this issue, and would be glad to get community input on this. Anyone have any bright ideas they would like to share?

Good question. Thanks.

Rick

Here is one idea https://forum.nemcoin.com/index.php?topic=2620.msg8259#msg8259

Rick,

I'm sure you know that's not how it works. If you don't give 10% of your coins to AGS and 10% to PTS or BTS, you'll incur the wrath and repudiation of the BitShares community. You can try to hide behind your idea that "BTSX will be able to benefit from our work"; but I guarantee you that no AGS donator will see it that way.

What you're doing is this: you're looking out at the pool of people who "get" crypto, and you're singling out a particular group (AGS donators) who really really get crypto and you're saying "we don't want you to be a part of this community. Everybody else, come and get it! But we're going to ensure that you AGS donators never have anything to do with our project."

If that sounds like a smart move, go for it - but know that you will certainly alienate one of your biggest potential client bases.

"OmniBazaar -- Removing Middlemen and Bankers from E-commerce"
... and replacing them by an unknown newbie...  ;D

If you're forking BitShares, I don't know why you don't simply use BitUSD and other assets which provide stability for the end user instead of just getting a new coin, just because.

Only allowing wealthy investors fund your project, -8 points.

Kickstarter such that normal people get NO equity in your business, -7 points.

Forking BitShares code without mentioning BitShares explicitly even once, -8 points.

Not honoring the BitShares consensus of 10/10 to PTS/AGS holders, -6 points.

Screen shots that look horribly designed, -7 points.

as an AGS investor - i will never support your project.

taking our sourcecode is fine, but you should read the license agreements.

but maybe we can recycle some good ideas for our self.

ah CLains, couldn't have said it better myself.

I will actively discourage anybody I ever talk to about the project for the above reasons.

Right on !!! I really don't get why they chose to do it this way. Good luck with that but no thanks. I will never support this in any way for the reason mentioned above.

+5%

Thanks. That was helpful

I appreciate the input.

Rick

Well, I see I struck a nerve here...

First, I want to assure you that I would rather have your support than your animosity. I'm not trying to antagonize anyone here.

But, when I go to GitHub and look at the license file for the Bitshares project, here is what I see:


Now, I understand that the license is different from the Social Contract you are writing about. And if I were interested in creating an asset or a DAC under BTSX, and I needed technical help from Dan and the core developers, I would probably agree to that Social Contract. But, I'm not asking for any help, and I am adding new features to the code base.

It seems to me that 20% is a pretty steep price to pay for the approval of BTS and AGS investors -- especially when that approval is not accompanied by any financial support. I'm offering up to 20% of the company to investors in exchange for financial support that will help me get this project completed, launched and widely promoted. No offense, but I just can't see giving up another 20% just to make BTS and AGS investors feel good about me. I completely understand that, as a BTS/AGS investor, you want me to do what is in your financial best interest. But, if you were in my position, you would likely feel as I do.

I've been around these forums long enough to understand one thing: Even if I were Satoshi himself (which, of course, I am not), and I were promoting the greatest new idea since the release of Bitcoin itself, I would still have critics, nay-sayers and detractors.

Again, I would prefer to have your support. But, if I can't, I'm still going to build the coin and the marketplace.

I personally think the world needs it.

Best,
Rick

This is a matter of compliance with securities law. The way we are offering our Private Placement REQUIRES that we accept investments only from "Accredited Investors". People who are not wealthy, but like what we are doing, can contribute on IndieGoGo, and get coins as perks.


Again, this is a matter of compliance with both US securities law and the rules of IndieGoGo. Normal people may at some point be able to invest via our offering at AngelList (https://angel.co/omnibazaar-inc), at such time as we have a lead investor who is willing to form what they call a "syndication".


[shrug] Where would you suggest I mention it? The IndieGoGo campaign is already too technical for most people who see it. It has already come up in this thread, and is completely out in the open. Does it really matter that much which coin we used as the base for OmniCoin? Every coin out there (except Bitcoin) is based on some other coin. "Imitation is the sincerest form of flattery." We think BTSX is great. We're not hiding that, or any of the great features.


See my response to "biophil" above.


If you would like to help make it better, we could probably arrange to let you help. If you would like to express some specific constructive suggestions, PM me. I will be glad to hear what you have to say. But "look horribly designed" is not particularly helpful or constructive.

Best,
Rick
[/quote]

[SHRUG]  I'd say you have miscalculated but,
[SHRUG] time will tell............

Its just a shitcoin copyclone of bitshares.. I doubt this is the ltc of bts...

Where is the github link? Funny you clone bitshares but not even provide your link in the op...

Doesnt seem like you get it about social consensus... You should read up a bit instead of being greedy...

So you will secretly keep copying bitshares stuff including the voting stuff which is a work in progress and hold it privatly yet you want money upfront from investors? Rolf

Why dont u just create a dac inside of bts and plan around turing complete scripts for trustless auctions/buy it now marketplaces? Oh wait social consensus again doh!

The bitshares community are among the smartest I've come across and honoring the AGS/PTS consensus is probably the smartest thing you could do. Until then I'm going to just watch.

XOM will have a future.

You are significantly more likely to succeed if you honor AGS/PTS.

I suggest you to not ignore AGS donators since they are the reason you can now use the bitshares_toolkit for your project...
You say you don't need the help of the bitshares_toolkit devs and that's a reason not to give 10% ...YOU ARE WRONG... it is maybe a reason not to give more than 10% like the majority are doing (peertracks,lottocoin,DNS,VOTE,PLAY etc.)
But 10% is the absolute minimum you should give away for all the work already done!!! Or do you think it is fair to violate the social consensus.Go for it if you want to be the first one (and the last one)
I am sure you will loose more than 10% on future value of your project (if it survives due luck of quality support) because of your bad reputation that will be a result of ignoring a demographic that is responsible
for the technology you will use. How do you expect future investors to trust you? (at least the majority of them) knowing the background story? You can not hide the truth, that's for sure!
I wish you good luck since you will need it 100%
I hope you change your mind and look into your project as a professional and not as a gambler or as a... thieve

I can honestly say I do not support your methods.  

So let me please get to why.


You did strike a nerve and for someone with a sense of ethical and honorable behavior, it should be apparent why.  But for the newbies who are reading this post (and for you if you really have that much of a problem with comprehending such simple things), I will explain why.  

Many people in this community have sacrificed a great deal to bring this opportunity to crypto as a whole.  They hoped that people like you would be able to build awesome things with the toolkit, but also expected that if the risks they personally took for everyone paid off that there would be honorable and ethical devs who cared enough to give back as a /bow and /thank you for their risks making it possible to outcompete all other, similar technologies.  

Somehow you saw fit to not only fall short of reaching the social consensus--you also found a way to completely ignore it.  Never did you make a post telling the community of your intentions to do this in bitsharestalk.org forums...you simply did a complete end-around us in hopes that you could gain from others' risks.  To a degree, this would be fine with me as I am not personally in this to get fabulously wealthy, but it does tend to sadden me and dim my outlook for humanity that someone is so obviously bent on getting wealthy off a product someone else built without so much as a pittance of thanks.   This, to me, speaks volumes about the character of those who are working on this project.  

If I am a potential investor, I am wondering why you wouldn't throw me under the bus at the first chance too.  We have plenty of pump and dump schemes out there...and you officially made yours look like one.  If you can't trust the dev to act with a modicum of respect for others, what exactly makes you want to invest in their project (which is directly tied to them)?


I am glad that you outwardly express that you wish no animosity, but sadly your actions speak much louder.  If you really want this to change...change your actions ;)

This is specifically what bothers me most:  Nowhere do I see a symbol that says "Powered by Bitshares".  You seem to think that saying "it is no secret we are cloning btsx" on a post somewhere buried deep in bitcointalk is an acceptable retort...

It is a mystery to me how you can be so blatantly ignorant to what most people learn in middle school.  Even creative commons material openly references those whose content is featured, giving the due respect to those who selflessly created their content for open source use.  Take a moment and imagine yourself in everyone's shoes.

No...you do not need to go into depth on the kickstarter page about bitshares.  In fact, I would imagine you would do this in a way that buries it further under walls of text that no user will ever use.  From your behavior thus far, it is a fair assumption that this would be your path of choice anyway.  However, you could easily at least quell animosity (which you openly state you want to do) by putting the "Powered by Bitshares" logo legibly on your logo so people can see who did the hard work so you could get your pay day, and do their own research into what BitShares is.

Instead, you somehow seem to find a way to act as though you are ignorant to these obvious details...  

Please man...just FIX it.  You wont get the support or help (in any direct way) from the community...but at least you will help quell the animosity.  

I see the OP has little to nothing to say in response.  So I will do my best to get you get you an image file to use...

Please consider being a decent human being and AT LEAST using it. 

Instead of answering each individual post about "honoring the AGS/PTS consensus", I would like to address them all in a single post.

Attribution:

I have added mention of Bitshares X on the OP of this thread, under the heading of "OmniCoin Features". I will also add an attribution to other promotional materials in instances where it will not simply confuse the intended audience. I won't use the "Powered by Bitshares" logo, as my understanding is that it is reserved for projects that are either assets on the Bitshares blockchain or participating in the AGS/PTS "consensus". I apologize for the oversight of not attributing more clearly in the original post. It was never my intention to hide the fact that we are using the BTSX code base.

Consensus

The consensus in the rest of the crypto community is that the open source code of coin projects can be freely copied. Bitshares participates in this consensus by clearly and unambiguously sharing the code on GitHub using the "unlicense" license. Bitshares then essentially contradicts that consensus and that license by trying to create a separate "social contract" that would have developers pay a hefty price for using the open source code. I don't know of any other project that takes this approach, and I don't really understand the legal notion that would support this contradiction. I prefer to participate in the consensus of the rest of the crypto community -- the consensus that open source is actually free to copy and extend. Since the rest of the crypto community is larger than the subset of AGS/PTS investors, I am betting that I am on fairly safe ground by doing so.

Fairness

Accepting the AGS/PTS "consensus" would force us to launch OmniCoin in a manner that many people feel is unfair. In order to give 20% (or even 10%) of the coins to AGS/PTS, I would be required to "pre-mine" a very substantial number of coins. We wouldn't be the first to do an "pre-mine", and probably wouldn't be the last. But, we would prefer to distribute 100% of the coins broadly and fairly, to the users and service providers in the OmniBazaar marketplace. We feel that "Insta-mines", "pre-mines", "ninja-mines", and the like, put an unfair (and unnecessary) burden on the end users of a coin for the benefit of the developers, insiders, investors, and early adopters. Having said that, yes, we are offering OmniCoins as perks in our crowd-funding campaign. And yes, that will require that we "pre-mine" some small number of coins to distribute to the campaign contributors. But, that distribution will end up being a fraction of 1% (unless we end up more than 400% overfunded on our campaign). There is a big difference between 1% and 10 or 20%. And those coins will end up in the hands of the public, not the developers or some group of investors.

Legality

The legality of issuing coins to represent "equity" ownership in an asset or project is (in my opinion) questionable in many jurisdictions. For example, in the United States, the US Supreme Court has ruled (in SEC v. Howey) that a "securities contract" is defined as "a contract, transaction, or scheme whereby a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or third party".

Let's say that the promoters "pre-mine" and issue a certain number of coins to development team, or make an "Initial Coin Offering" (ICO) to the public. As soon as someone purchases coins in that ICO, or buys those "pre-mined" coins from the promoters, with the expectation that the value will go up, we cross into very dangerous territory. I believe  that the SEC could (and will) take the position that the developers have offered and sold a security. The regulators would make the case that sale of the coin is a "transaction or scheme" where people are investing money (by buying coins), in a "common enterprise" (the company or group that created and sold the "pre-mined coins) with the expectation that the value of the coins will go up based on the efforts of the "promoters" (the company and its developers). This is especially true in the case of coins like AGS, "SuperNet", NXT, XCP, and others that overtly tell buyers that ownership of the coin represents ownership of (one or more) assets.

Unfortunately, I predict that we will see regulators challenge and attack some or all of these coins (and their developers) in the coming months and years. I don't think it will make much difference if the developers of the coin are incorporated in a jurisdiction outside the United States, or if the organization is a Distributed Autonomous Corporation (DAC). If a developers individually, or the "company" as a group sells to US citizens, they will be expected to comply with US laws. And, I think it is fairly clear that it doesn't make any difference if ICO coins were purchased using another cryptocurrency, like Bitcoin.

I really hope that this does not happen to the AGS/BTS team. But, I believe that overtly promoting AGS as an investment vehicle will make them a prime target for the SEC and other regulators. And, I think that any project that gives up a percentage of its coins to participate in the AGS/BTS consensus may find themselves stuck in the same legal quagmire. Beyond that, the scrutiny and regulations that result will likely be detrimental to the entire crypto community.

The above is precisely why we are offering investment in OmniBazaar exclusively through a standard Private Placement Offering, in strict conformance with US securities law. It is also why we have a very carefully considered plan for how we are going to distribute OmniCoins.

And it is another reason we are not particularly interested in being part of the AGS/BTS "consensus".

Self-Interest

The calls to conform to the "social contract" and participate in the AGS/BTS "consensus" are ultimately based in personal self-interest. Several posters have called me greedy or selfish for not giving up 20% of OmniCoins to their group. Yet these same posters ignore the fact that they are trying to protect and promote the value of an "asset" that they have "invested" in. They are promoting their own self-interest. And that's okay with me. Almost everyone on this forum, and almost everyone in the world does the same every day. So, let's be open and honest about it. Name calling doesn't accomplish anything, especially when it is "the pot calling the kettle black".

I won't apologize for protecting the interests of OmniBazaar stockholders, future OmniCoin holders, and myself, from calls to "share the wealth".

Value

I appreciate that the various posters see enough value and promise in OmniBazaar and OmniCoin to want a share of that value. There is a legal and fair way available for "accredited investors" to share in the value of the project (https://angel.co/omnibazaar-inc). We hope to make it possible for small investors to also participate in our offering on AngelList via a "syndicate". And there is a simple way for anyone to add value to the project through our crowd-funding campaign.

We believe we are bringing something valuable to the world with this project. I hope that everyone (including AGS/PTS investors) will accept it based on its merits.

I realize this is a very long post. Thank you, and congratulations, if you took the time to read it all the way through.

Best,
Rick

Aright u talk about fair and self interesr? How about airdrop all omnis based on btc holders(snapshot btc chain)... that is the biggest community thus you cant use those arguments anymore... what will it be this time?

Hi folks. My name is Nigel.  I am here solely to qualify a range of things. 

For the sake of transparency... the PR guy associated with this project Dave Goehst straight up robbed me out of what appears to be about 750 dollars on a community development project.   I can prove this. No one has to take my word for anything.  This may or may not become germane to the conversation but as I selflessly throw myself out there I figure I might as well clear up a range of lies from this idiot.

To be clear, anything I say can be proven light years beyond the shadow of a doubt anyway.  I frankly could not sit by and do nothing after reading some of the rampant stupid going on in this thread.


Mojorisinup is Dave Goehst. He is also aboutfreelance, Roger Kowalewski, Roger Klawinski and Sarah Bitner( and a few more unrelated to this) I will get to those in a new thread.

Lets take a look at a few things.... On the first page of this thread Dave says....

"Let's define a scam (to establish what a scammer is) as Webster's states:

noun

1. a confidence game or other fraudulent scheme, especially for making a quick profit; swindle."

That is interesting, Dave.

http://www.ai.org/judiciary/opinions/pdf/06021005jgb.pdf   It seems you like to stick empty bank envelopes into ATM machines, remove the cash and wittingly try to cash obviously dodgy checks.

It would appear that you fit that description perfectly. 

He was also busted and banned from Digital Point forums for running some sorta bit coin mining scam  a few months ago.

https://forums.digitalpoint.com/threads/second-round-6-slots-55-roi.2713790/

That thread was started by "aboutfreelance"  When the staff figured out what he was doing  they merged his accounts together. (SAME IP's used for both accounts) I will be posting a range of other threads shortly that qualify he is not only both people but he used them both to prop up his fraud.(talk to himself)

Dave will proceed to lob ad hominem attacks at me now as he is known to do.  I am fully prepared for this. He typically will point out a very unflattering thread about me there as well in attempts to deflect the conversation away from himself. 

The thread is here https://forums.digitalpoint.com/threads/nigel-lew-issiue.2051958/

Some thoughts on that you can find here where Dave set up an account to astroturf this project by talking to himself with his aboutfreelance reddit account.

http://www.reddit.com/r/Scams/comments/2c6j7r/is_nigel_lew_jnlew_media_group_a_scam/


proof of that is here http://www.reddit.com/r/CryptoCurrency/comments/2jpr3g/cooperative_marketplace_built_for_cryptocurrency/



He is so freaking retarded that he actually thinks someone cant figure that out in 2 seconds. That account simply posts links to his own stuff, me or this campaign.  I hope I dont have to go to lengths to qualify that one.

I have screen shots of all this stuff too. He has a curious habit of trying to delete that stuff.

He has also made a range of entirely slanderous and defamatory remarks about me on reddit using a different account. 

I am trying to keep this on point here I just need to point out that not only is the guy a known convict he posts stuff like that to reddit thread pretending to be someone else entirely.

So a few things on that point. Its not only bullshit... but Dave is an article writer. He is not a programmer, but he has somehow figured out how to write code all of a sudden and produce a magic codified means to stop defamation http://www.gofundme.com/defeatdefamation

GET THAT?  Dude straight up posts defamatory shit about people but is making up a position against defamation... lol... FFS you cant make that shit up.

I frankly do not possess the vocabulary to say much about that other than its just more financial fraud.
Unless of course its legal to simply make shit up and get folks to pay me for nothing.

I have several months of daily conversations with him and range of ways to qualify that Dave is in fact all of those people and all coming from IPS in his town. (with in blocks).

I have a standing offer to anyone even remotely computer literate to fire up team viewer and I can walk you through months of stuff in about 20 minutes to qualify the following:

I also have a standing offer to proffer my entire hard drive to any relevant law enforcement agency who would like it. Midget porn and all.

1. Dave Goehst is in fact all of those people
2. That Dave is in no uncertain terms not a programmer, hence his go fund me campaign is a complete sham.
3. That Dave roams the internet as different people trying to deflect attention from himself like this
located here http://www.complaintsboard.com/complaints/advertzones-david-ghoest-published-links-articles-were-deleted-after-payment-is-done-c697502.html

Which is also entirely true as he has been punted from all of his writing gigs for selling links. No examiner.com, no huffpo, no nothing.

I will have more on his use of the word "duplicitous" and some other language I quite intentionally planted on him like "vernacular" and "rube" in a later thread if need be.


Out of the gate I have no inherent investment in this campaign. I am not party to any of the other people involved in it.

I will say that their position on open source matters is entirely disgusting and frankly untenable, though.  That is none of my concern though.

I am fully prepared for the ensuing bullshit as well. The more he talks about me and tries to deny things the worse its going to get for him.

I am going to be entirely transparent and human here. I am happy to answer questions, have someone log into team viewer so I can fire up trillian and you can read his own words.

With that said, I know shit about bitcoin itself so I don't have much to add here except perhaps this gem...

"This isn't your quintessential 'fly by night' shitcoin or underdeveloped dream - all the more reason anyone with an IQ greater than a grapefruit should be all over this."

Well, they don't have enough sense to even Google you apparently

https://www.google.com/search?q=dave+goesht&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a&channel=sb

so your IQ of a grapefruit quip is pretty tenuous.

Not entirely germane per say but punching chicks is par for the course http://www.in.gov/judiciary/opinions/pdf/07110701ehf.pdf   page 8 or 9 I forget. You may want to jump straight there though. That particular read is pretty unsettling.

I will have the relevant bits of him not capable of coding some algo to stop defamation sent off to gofundme shortly.

I am also happy to field any questions about me or anything else.

FULLY FUCKING TRANSPARENT  I was a real dick to a few folks, lacked decorum as I have mentioned as well.  Not to try and excuse anything but when people have to deal with folks like Dave they have a tendency to wig out. I have never scammed anyone and do not owe people cash. Am not banned from DP like Dave and half the folks in that thread for that matter.  I have simply gotten better at dealing with folk who try to rip me off.

Dave will, attempt at least, to suggest that I have edited or manufactured months and months of conversations with him and also that I am somehow not me because I route some stuff through my colleagues paypal account. He would further have you believe that I made that up as well and somehow manufactured 60 years of being on this earth.( I know, Facebook is hard)

I can in no uncertain terms qualify that as bullshit as well.

So Dave. You have until the end of business tomorrow to send me the $750 you owe me or I am going to send a metric shit ton of irrefutable evidence to the DA's office in your town, to gofundme and to indiegogo. Astroturfing reviews is a federal offense as well by the way.

I am pretty certain it will not take me more than 10 minutes to track down the first bunch that prosecuted you for fraud, which you weaseled down to theft... and then tried to weasel out of that as well.

While I know exactly what is about to happen here do not let this shitbag distract from the matter at hand. This is not about me. I just happen to be able to prove, in no uncertain terms, what is available about this cat. 

What is going on here is not about me. I know shit about bitcoin. 

I also have several more links and threads to stuff he was doing over there as well but I have to get a bit of work done. I actually do stuff.

EDITED TO ADD THE ALIAS Roger Klawinski  http://myventurepad.com/180891/freelancewriter

Nigel

I just got this from Dave in an email...

LOL.  You're having loads of fun trying to extort people out of money.  Not going to work.

Take your fake chat logs and shove them up your duplicitous ass - make one slick move, little boy, and I'll slap you around like a lawn dart, bitch.

Don't one single soul owe you a fucking dime - you're just a broke bitch trying to extort mother fuckers out of money, which anyone will laugh at.  So keep up with your threats - nobody actually takes you seriously, little faggot.


On Mon, Dec 16, 2013 at 5:45 PM, Roger Kowalewski <aboutfreelance@gmail.com> wrote:

    Test this banner out.  (Note that this a reply to a pre-existing conversation)

So now he has confirmed for me that he is both of those folks as well.  Its in thunderbird so whomever I opt to let into my comp and meet me can qualify that as well.

Nigel

Here is the email header...

From - Tue Nov 11 15:31:29 2014
X-Account-Key: account1
X-UIDL: UID27830-1373472278
X-Mozilla-Status: 0011
X-Mozilla-Status2: 00000000
X-Mozilla-Keys:                                                                                 
Return-path: <aboutfreelance@gmail.com>
Envelope-to: office@jnlew.com
Delivery-date: Wed, 12 Nov 2014 01:27:19 +0300
Received: from mail-oi0-f52.google.com ([209.85.218.52]:38596)
   by server.jnlew.com with esmtps (TLSv1:RC4-SHA:128)
   (Exim 4.82)
   (envelope-from <aboutfreelance@gmail.com>)
   id 1XoJu8-0005es-Oh
   for office@jnlew.com; Wed, 12 Nov 2014 01:27:19 +0300
Received: by mail-oi0-f52.google.com with SMTP id u20so7749191oif.11
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DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed;
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Reply-To: aboutfreelance@gmail.com
In-Reply-To: <CAF44TOQ9sXJkR1aHuGQSV94rGqvDJS-8EY_=xr-466TWPy9k+A@mail.gmail.com>
References: <CAF44TOQ9sXJkR1aHuGQSV94rGqvDJS-8EY_=xr-466TWPy9k+A@mail.gmail.com>
Date: Tue, 11 Nov 2014 17:27:14 -0500
Message-ID: <CAF44TOT8_qBb01C_PKdLHBL1jNZDUcepK4nv0Et3A6sQDow4ow@mail.gmail.com>
Subject: Re: Forum banner
From: Roger Kowalewski <aboutfreelance@gmail.com>
To: Nigel Lew <office@jnlew.com>
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And my several months of Trillian logs are with that account as well.  I guess its a coincidence ehh Dave?

Nigel

shit just got real! U should have had a social consensus!!! lol

Next up.. .MY PM with omnicoin I just got...

His note to me is as follows... I will separate some logic with #########

Your posts about David Goehst
« Sent to: Nigel Lew on: Today at 01:33:09 AM »
« You have forwarded or responded to this message. »
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It appears that I have been conned by David as well.

I hired David on Elance to do some PR and social marketing for the IndieGoGo campaign. His profile said that he had 32 successful jobs in the past year, many thousands of dollars in earnings, and a decent reputation.

Now that page appears to no longer exist on Elance.

You will find that I have removed David from the team page on IndieGoGo.

I asked him to remove his recent posts from the thread, and he appears to have done so.

Now, I am asking you to please remove your posts as well.

You have succeeded in getting him "fired" from OmniBazaar, and I have learned a valuable lesson. Your posts have served their purpose, and I would like them removed. I don't need or want the drama in my thread.

Thanks,
Rick

################
Geez, When I post his words it frankly pisses me off even more, but here was my response I just sent to him.

Hello. I, in some vague sense or another, appreciate your candor.

I made it quite clear out of the gate that my issue was not with you folks, per say.

But, as Dave was on your page as your "PR Guy" I simply had to say something for obvious reasons.  It again, takes literally 2 clicks from any of about 10 websites to open up this can of worms and wind up right here.

With that being said, I am not quite done here.  Some of your positions(as far as I have bothered to read stuff) are not ok with me as far as it pertains to open source related matters.

I am simply trying to not conflate my issues with your PR guy and the campaign itself.  I am human like everyone else.

I am finding that a bit difficult right now. 

Mostly, because you think that hiding shit is somehow an answer to arriving at some sort of ethos for you folks.  As a result, I will be deleting exactly jack shit here.


What I mean by that is,  I could have saved you from even the front page of this thread, had you spoken to someone... fuck, anyone.... who actually understands how the internet works.

I, admittedly, learned some of that the hard way.

With that said, I am entirely too existential in nature to simply let this slide. I brought this headache upon myself and I am going to see it through regardless of how it turns out for me.  I blame the Grateful Dead and Albert Camus for that but, that is a conversation for another day.

When I see Dave's posts back, from his own doing, I will have a bit more faith in you... knowing that you will also approach things head on and with some respect for things that you kids didn't develop or frankly do not seem to understand in the first place.

In a perfect world, I would like to be entirely vindicated here. But, the world is not perfect nor am I,  or the people that populate it with me.  I ask nothing of you other than to frankly rethink a range of things.

We are all responsible for our own actions here and have to deal with the consequences accordingly.

That I could explain to you how to fix your mess in less than a paragraph is a moot point.  Its not why I am here. Nor do I have any reason to think you would actually change.


To be entirely too honest... Its Dave's abuse of "disruptive business models" like gofundme and indiegogo that pisses me off more than anything.

I am a grown ass man. I don't need his money.

Nigel

EDIT:

Update..... Dave has set his twitter account to private and canned the email that he used to threaten me last night... More proof that all those folks are one in the same.   Much like everything else, that guy doesn't realize his account is not actually deleted. 

I have found the folks that prosecuted him in the first place and got routed to the right jurisdiction after they tracked him down. He has until the end of business, like I said, to own his shit and pay me or his days as a free man are entirely numbered.  That dude is looking at 5+ years minimum apparently before you compound the fact he was already busted for financial fraud.  I suspect at this point the only reason that his gofundmecampaign is up because they are watching his ass and waiting for it to hit a certain fiscal threshold.

They more cash he gets, the more trouble he is in.

And... for the love of god. Put that guys posts back.  I would rather not have to post screenshots of them all.

Nigel

EDIT 2:

Next update:  The reddit thread in question has now been deleted but I can still get to all of that stuff from my account. Because, its not actually deleted.

You can find it here shortly  http://www.reddit.com/r/undelete

Proof positive that we are talking about Dave.
N.

EDIT 3:

http://www.scam.com/showthread.php?t=609588

Found another verbatim post from the same guy. They were surprisingly easy to get to check the location of the IP involved in that post.  Not sure what I think about that.... but thanks...

N.

[Mod note: merged several posts together]

I'm pleased to announce that we are now "Trust Verified" by Coins Source. I will be adding the information to the OP in a few minutes.

Good suggestion. Thanks for your input.

Best,
Rick

I don't think what you suggest is a bad idea, I just think we can do better.

If we distribute based on a BTC snapshot, we end up with a fairly broad distribution, but not a very even one. We would get stuck with the same "rich list" that BTC has now. Many of the current BTC holders might or might not care about having XOM to spend in the marketplace. And, really, our goal is to introduce millions of new users to cryptocurrency through the marketplace, not just churn the current small group of crypto enthusiasts.

It seems to me that it makes more sense to distribute XOM to a large number of people who opt in to receive them because they are interested either in the marketplace or the coin. Then, there is a lot better chance that the coins (and the marketplace) will get used.

We have no way of knowing in advance how many people will join, or how quickly the number of participants will grow. So, we will probably give slightly more coins to early adopters, compared to later adopters, to provide an incentive. But, the main plan is to get coins into the hands of a huge number of people.

The fairness part comes from not doing some huge pre-mine to pay investors or the developers. Our business plan is to make a tiny percentage on the transactions, rather than abuse the coin and the coin holders with an "insta-mine", "pre-mine", "ninja-mine", or the infamous "developer-and-friends-mine-all-the-coins-by-PoW-in-the-first-two-weeks, and-then-switch-to-PoS" trick.

Best, Rick

Hi just a quick note here folks. I have FULLY qualified that Rick was entirely none the wiser about Dave Goehst.

He has fleeced a veritable truck load of folks and continues to do so. Those days are about to be over fortunately.

I will be compiling a few things here and removing a range of posts I made as to not take a dump on your forum or in this poor guys thread.  

I just happened to find the fellow as, what amounts to an article monkey, on their fund raising page.

I hope I didn't cause too many issues for these folks. Certainly... upon discovering he is not actually part of this initiative.

I wish Rick and the rest of the Omnicoin folks all the best.  I have been trying to get this all day. I am a tad swamped. I will have things cleaned up shortly.

regards,
Nigel

I would like to thank David and Nigel for taking (most of) their personal dispute out of this thread.

Perhaps now we can get back to the original topic.

Rick

I think what you mean to say that is my problem with was your PR department at the time who was and is still engaged in a wide range of fraud.  A large part of which is a crowdfunding campaign for a vaporware algo that cant exist in the first place.

He simply tried to delete his existence and his words about code he wrote on his gofundme campaign.


Do you understand the quandary yet?  This is work and the real world. I don't take convicts personally.

Nigel

I've got a lot of work to do to get the marketplace and coin software ready for release. So, I'm not going try to "pump" this thread, or make any heroic efforts to get it back on topic.

I will keep an eye on the thread. If anyone has any comments, questions, rebuttals or suggestions, I will be happy to respond.

Otherwise, I'm going to stay focused on the job of getting the beta release ready. When we are ready for beta testing, I will probably start another (self-moderated) announcement thread, and put out a call for beta testers. If you are interested in being a beta tester, or helping any other way with the project, please PM me or speak up here in the thread.

Best,
Rick

Glad to see that info about this scammer has finally come to light.

JUST A  SCAM.

Move on. Nothing to see here folks!!!

 8)

This.

What I like, it's that the era of Open Markets it's coming and I'm starting to see a new wave like the altcoins one, but about this stuff.

By the way, wtf about this?

Since you brought it up again, I don't mind reviewing this.



This is a matter of compliance with securities law. The way we are offering our Private Placement REQUIRES that we accept investments only from "Accredited Investors".


Again, this is a matter of compliance with both US securities law and the rules of IndieGoGo. Normal people may at some point be able to invest via our offering at AngelList
(https://angel.co/omnibazaar-inc), at such time as we have a lead investor who is willing to form what they call a "syndication".


I have edited the OP and added a clear and unambiguous reference to BTSX, and will do so in all other venues where it will not simply serve to confuse people. Almost every coin out there (except Bitcoin) is based on some other coin. "Imitation is the sincerest form of flattery." We think BTSX is great. We're not hiding that, or any of the great features.


See my response here:https://bitcointalk.org/index.php?topic=835575.msg9507580#msg9507580 (https://bitcointalk.org/index.php?topic=835575.msg9507580#msg9507580).


Those are early screenshots, and the interface has improved since then. But, thanks for your input.



Of course, we agree completely. And we are making an honest, concerted effort to make it happen. Sooner rather than later.

The observant poster on bitsharestalk.org is correct that we have a java UI for the OmniBazaar marketplace application. The marketplace application is separate from the OmniCoin wallet and the Bitcoin wallet. We did this to make the UI as portable as possible to various platforms. We have designed OmniBazaar to be massively scalable, and part of that design is to keep the listings separate from the blockchain.

Thanks for asking.

Best,
Rick

+5% Absolutely no support from BTS ... good luck with your project ....

Any update?

Development is progressing on both the OmniBazaar marketplace application and the OmniCoin wallet, although not as fast as we would like.  The marketplace and the wallets (Bitcoin and OmniCoin) are all working, but still need some polish and better integration before we release them in a beta test. We still need to get the "reputation" and "escrow" modules coded and tested before we can think about making a public release.

We are still open to help -- either in the form of coding or through funding.

Thanks for asking.

Best,
Rick

i spent 50 eur in indiegogo...can i get my money back?

I believe the amount was $50 USD, not 50 EUR. But, either way, please send me a PM with details about the best method to get a refund to you.

Best,
Rick

It is probably time for an update regarding this project.

For the past year, the members of the OmniBazaar team have been focusing all of their time, attention, and resources on getting the software ready for release. And we are almost to the finish line.

•   We have completed the design and programming of our new "Proof of Participation" blockchain security model.
•   We have added an OmniCoin "faucet" that will provide enough OmniCoins to new users to allow them to register and get started in the marketplace.
•   We have implemented the referral system that will reward users for introducing new people to OmniBazaar.
•   We have designed and programmed the mechanisms for distributing OmniCoin bonuses to early adopters and marketplace service providers.
•   We have conceived and implemented a new way for OmniBazaar to receive development and maintenance income, without charging transaction fees to our users.
•   We have completed a thorough overhaul of the bitcoin wallet that is built into OmniBazaar, so that the use of bitcoins will be completely robust and reliable.
•   We have incorporated into OmniBazaar a peer-to-peer communication system that does not rely on a central server.

All of this development has been occurring in "stealth mode".

There are a couple of reason why we have not been boasting about every step of the development process. One is that we don't want to see someone else use our ideas before we release them. The other is that we believe it is more important to announce a finished product than to talk about a work in progress.

We have recently had some positive interest from a couple of different investment funds that specialize in cryptocurrency-related investments. Both have indicated interest in investing in our current stock offering when we have a "lead investor" to lead the funding. Please let me know if you or anyone you know is an "accredited investor" who might be interested.

Within the next few weeks, we will need the help of some beta testers. We would be happy to have any of our "backers" from Indigogo be involved in the beta testing process. If you are interested in seeing an advance copy of the application, and helping us with testing, please send me a message.

Developing OmniBazaar on a "shoestring" budget has been much slower than we would have liked. But, it has taught us some import lessons about getting development accomplished with limited funds.

I hope to have more news soon.

Best,
Rick

****** UPDATE *********

The OmniBazaar marketplace and OmniCoin cryptocurrency launched on 31 October 2018.

See the updated OP for details about the project.

Do you have any other docs other than whitepaper? Blogs? Could not find anything like this in the thread body.

Here are bunch of links to info, videos and social media:

OMNIBAZAAR TRANSLATED INTO 16 NEW LANGUAGES


Spread the word! A new version of the OmniBazaar software has been released that makes it possible for 2.8 billion more people to use OmniBazaar and OmniCoin.

English
OmniBazaar marketplace and OmniCoin wallet are now available in 17 languages. OmniBazaar provides a "gateway" into both e-commerce and cryptocurrency for more than two billion people who do not have a bank account or credit card. And, OmniBazaar is easy and inexpensive to use.

Chinese
OmniBazaar市场和OmniCoin钱包现在有17种语言版本。 OmniBazaar为超过20亿没有银行账户或信用卡的人提供电子商务和加密货币的“门户”。而且，OmniBazaar使用起来既简单又便宜。

Hindi
OmniBazaar मार्केटप्लेस और OmniCoin वॉलेट अब 17 भाषाओं में उपलब्ध हैं। OmniBazaar दो अरब से अधिक लोगों के लिए ई-कॉमर्स और क्रिप्टोकरेंसी दोनों में "गेटवे" प्रदान करता है जिनके पास बैंक खाता या क्रेडिट कार्ड नहीं है। और, OmniBazaar उपयोग करने के लिए आसान और सस्ती है।

Spanish
El mercado OmniBazaar y la billetera OmniCoin ahora están disponibles en 17 idiomas. OmniBazaar proporciona un punto de entrada al comercio electrónico y la criptomoneda para más de dos mil millones de personas que no tienen una cuenta bancaria o tarjeta de crédito. Y, OmniBazaar es fácil y económico de usar.

Arabic
سوق OmniBazaar ومحفظة OmniCoin متوفران الآن بـ 17 لغة. يوفر OmniBazaar نقطة دخول في التجارة الإلكترونية والعملات المشفرة لأكثر من ملياري شخص ليس لديهم حساب بنكي أو بطاقة ائتمان. و OmniBazaar سهل الاستخدام وغير مكلف.

Russian
Topгoвaя плoщaдкa OmniBazaar и кoшeлeк OmniCoin тeпepь дocтyпны нa 17 языкax. OmniBazaar oбecпeчивaeт дocтyп к элeктpoннoй кoммepции и кpиптoвaлютe для бoлee чeм двyx миллиapдoв чeлoвeк, y кoтopыx нeт бaнкoвcкoгo cчeтa или кpeдитнoй кapты. И, OmniBazaar пpocт и нeдopoг в иcпoльзoвaнии.

Portuguese
O mercado OmniBazaar e a carteira OmniCoin estão agora disponíveis em 17 idiomas. O OmniBazaar fornece um ponto de entrada para comércio eletrônico e criptomoeda para mais de dois bilhões de pessoas que não possuem uma conta bancária ou cartão de crédito. E o OmniBazaar é fácil e barato de usar.

Indonesian
Pasar OmniBazaar dan dompet OmniCoin sekarang tersedia dalam 17 bahasa. OmniBazaar menyediakan titik masuk ke dalam e-commerce dan cryptocurrency untuk lebih dari dua miliar orang yang tidak memiliki rekening bank atau kartu kredit. Dan, OmniBazaar mudah dan murah untuk digunakan.

Turkish
OmniBazaar pazarı ve OmniCoin cüzdanı şimdi 17 dilde sunulmaktadır. OmniBazaar, banka hesabı veya kredi kartı olmayan iki milyardan fazla insan için e-ticaret ve kripto para biriminde bir giriş noktası sağlıyor. OmniBazaar'ın kullanımı kolay ve ucuzdur.

Korean
OmniBazaar 마켓 플레이스 및 OmniCoin 지갑은 현재 17 개 언어로 제공됩니다. OmniBazaar는 은행 계좌 나 신용 카드가없는 20 억 명이 넘는 사람들을 위해 전자 상거래와 디지털 돈 모두에 "게이트웨이"를 제공합니다. OmniBazaar는 사용하기 쉽고 저렴합니다.

Vietnamese
Thị trường OmniBazaar và ví OmniCoin hiện có sẵn bằng 17 ngôn ngữ. OmniBazaar cung cấp một "cửa ngõ" vào cả thương mại điện tử và tiền điện tử cho hơn hai tỷ người không có tài khoản ngân hàng hoặc thẻ tín dụng. Và, OmniBazaar rất dễ sử dụng và không tốn kém.

Italian
Il mercato OmniBazaar e il portafoglio OmniCoin sono ora disponibili in 17 lingue. OmniBazaar fornisce un punto di ingresso nell'e-commerce e nella criptovaluta per oltre due miliardi di persone che non hanno un conto bancario o una carta di credito. E OmniBazaar è facile e poco costoso da usare.

Gujarati
OmniBazaar માર્કેટપ્લેસ અને OmniCoin  વૉલેટ હવે 17 ભાષાઓમાં ઉપલબ્ધ છે. OmniBazaar બે અબજથી વધુ લોકો માટે ઇ-કૉમર્સ અને ડિજિટલ મની બંનેમાં "ગેટવે" પ્રદાન કરે છે જેમની પાસે બેંક એકાઉન્ટ અથવા ક્રેડિટ કાર્ડ નથી. અને, ઑમ્નીબજાર એ ઉપયોગમાં સરળ અને સસ્તું છે.

Filipino
Ang marketplace ng OmniBazaar at wallet ng OmniCoin ay magagamit na ngayon sa 17 mga wika. Ang OmniBazaar ay nagbibigay ng entry point sa e-commerce at cryptocurrency para sa higit sa dalawang bilyong tao na walang bank account o credit card. At, ang OmniBazaar ay madali at murang magagamit.

Malay
Pasaran OmniBazaar dan dompet OmniCoin kini boleh didapati dalam 17 bahasa. OmniBazaar menyediakan titik masuk ke e-dagang dan cryptocurrency untuk lebih dua bilion orang yang tidak mempunyai akaun bank atau kad kredit. Dan, OmniBazaar mudah dan murah untuk digunakan.

Romanian
Piața OmniBazaar și portofelul OmniCoin sunt acum disponibile în 17 limbi. OmniBazaar oferă un punct de intrare în comerțul electronic și criptocurrency pentru peste două miliarde de persoane care nu au un cont bancar sau un card de credit. Și, OmniBazaar este ușor și ieftin de folosit.

Ukrainian
Pинoк OmniBazaar i гaмaнeць OmniCoin тeпep дocтyпнi нa 17 мoвax. OmniBazaar нaдaє "шлюз" для eлeктpoннoї тopгiвлi тa цифpoвиx гpoшeй для бiльш нiж двox мiльяpдiв людeй, якi нe мaють бaнкiвcькoгo paxyнкy aбo кpeдитнoї кapтки. A, OmniBazaar лeгкo i нeдopoгo викopиcтoвyвaти.

CHECK OUT OUR NEW VIDEOS:


Barter for Bitcoin with OmniBazaar -- https://youtu.be/KwMFBaPQPKU

Five Ways to Make Money -- https://youtu.be/I8mAStlb7jo

"SecureSend" escrow system in OmniBazaar -- https://youtu.be/Znwfr2EPCNQ

Deterring Crime in OmniBazaar -- https://youtu.be/3zVmSWjQzYo

Visual Tour of OmniBazaar -- https://youtu.be/jrFrZRgkCxI

Referral Rewards in OmniBazaar -- https://youtu.be/sfpK-zyzj48

OMNIBAZAAR AND OMNICOIN IN THE NEWS:

Check out OmniBazaar's recent mentions in Yahoo Finance:
https://finance.yahoo.com/news/peer-peer-marketplace-celebrates-10-133600903.html

https://finance.yahoo.com/news/cryptocurrency-e-commerce-marketplace-launch-133600877.html

https://finance.yahoo.com/news/omnibazaar-releases-marketplace-safeguards-deter-124100272.html

Here are two other recent OmniBazaar mentions in Business Insider:
https://markets.businessinsider.com/news/stocks/marketplace-developer-aims-to-give-away-6-4-billion-cryptocurrency-tokens-1027720647

https://markets.businessinsider.com/news/stocks/new-e-commerce-marketplace-makes-bitcoin-more-accessible-to-the-average-person-1027453584

We got mentioned in DowJones "MarketWatch". Check it out:
https://www.marketwatch.com/press-release/omnibazaar-releases-advanced-peer-to-peer-to-peer-network-architecture-2018-08-29

OmniBazaar received coverage on German financial site FINANZEN:
https://www.finanzen.net/nachricht/aktien/marketplace-developer-releases-cryptocurrency-incentives-for-users-6565780

This is mostly good news.  And it is clear that the team is committed to promoting their project.  As a result, it could become a global trading platform.  I hope that you will be able to implement the upcoming IEO, and the further development of the project.

We are working on getting OmniCoin listed on an exchange for an IEO. You could assist us if you would help us find one or more "angels" who would be interested in a very attractive "private sale" deal now, before the IEO. This would help us raise the funds to pay the exchange listing fees. For the right person or people, we can make a VERY attractive offer.

Жaлкo, чтo Baшa тeмa oчeнь yбoгa. Жaлкий пoдвopoт yмным людям...It 's a pity your subject is very poor. Pathetic suspension to smart people..

There is absolutely no movement on the project, as I understand the developers do not have enough funds to conduct a normal full IEO. Of course it’s sad, because they already have a working product.

We are working on getting OmniCoin listed on an exchange for an IEO. You could assist us if you would help us find one or more "angels" who would be interested in a very attractive "private sale" deal now, before the IEO. This would help us raise the funds to pay the exchange listing fees. For the right person or people, we can make a VERY attractive offer.

Yes, the topic was created in 2014 - for 5 years now you have been working on this project. I perfectly understand that a lot of work has been done during this time and now such an important step as IEO and you want everything to go smoothly.
Probably the necessary amount of about 10 BTC?

Yes, 10 BTC would probably be enough. If we had 20 or 25 BTC, we could do more promotion and probably have a stronger and more successful IEO.