Yes, I've worked out some details ...

keeping it simple, one token would be equal to one KWH. There will be two rounds of funding, the first will be around US$500K - this will cover the development of a comprehensive research and development plan with costing for a minimum of five years R&D. This plan will be developed and published publicly.

The first round of funding is greatest risk, so we will offer a KWH's for a lower rate - somewhere around US$ 1-2 cents each.

The second round of funding ~US$30-50MM is also still high risk, however we will at least have shown we can produce something for money's put in. Possibly we will break down the project into smaller milestones and funding stages (as I mentioned in the intro post we are reworking our business plan now).  But for the second round we will offer KWH's for a slightly higher price of 2-3cents each - we'll determine the price when we get to that stage.

I want this code to take input from the sale of KWH's through traditional means e.g. visa/mastercard. and to convert the amount of the sale (a figure) into tokens and to put the tokens into either a new crypto-coin account (or possibly by one provided by the purchaser) and then to send the account keys with instructions to the purchaser via the most secure way possible - perhaps an encrypted email.  

So basically, the purchaser buys the tokens on our site the normal way someone buys a product on a website and we take the information from the sale and hand it off to this bit of code that does the above. Presumably we'll have a server running somewhere that pulls the information from the exchange and processes it, so can be coded in whatever language is convenient - mindful of security -- we will need to get someone to do a security audit of the whole process before we launch it.

Does that give some clarity?

Cheers

Greetings,

I am representing ProtonBoron - the open polywell fusion consortium.  We are interested in the possibility of offering future Kilowatt Hours of power in exchange for tokens. Given the high cost of energy today and given that we can even offer KWH's at a loss for us - given a finite supply, we believe this will be a wildly successful way to crowd-fund for fusion power.

Why a cryptocurrency? We could offer KWH's for funds and just keep all the transaction details to ourselves, however by creating a token mechanism we allow purchasers the ability to hold the token themselves and we'd not have to worry about managing the data.

We'd like to be able to sell these tokens directly from our website http://protonboron.com via some sort of mastercard-visa + bitcoin system.  The bitcoin part of it is easy, but coding a method to automatically create an account for a bitcoin, NXT, or our own crypto-coin? and then to put a given number of tokens into the account based on the amount of money received through a traditional payment processor is out of our league. If we were merely seeking a small amount of capital, we could maybe do this all by hand, but we will be seeking around 50MM (in USD).

Now the bad news - we don't have any money to pay a programmer. So we are seeking someone who is willing to be paid in these tokens to do the job. Obviously this requires some big faith on your part. However, as an added bonus, we are willing to allow you the rights to the software you develop (provided we have an unlimited license).

Hopefully you also have a keen interest in fusion power and are as excited as we are to move society forward in terms of clean cheap energy  

We are currently updating our business plan to reflect our new funding proposal and after that I will begin adapting our website's information to reflect it also.  

So, that's all I have for now. If you have any thoughts/questions/concerns, by all means please let us know.

Cheers,

Tyler Jordan for ProtonBoron

I have submitted a request to get added to coinmarketcap.com  -- I don't know how long the approval process takes, any ideas?

Apologies, I had a typo in the email address for claims in the original Announcement.  It has now been corrected. I've also added that you may merely PM me on the forum with your NXT account to make your claim.

Cheers,

Tyler Jordan

Keywords: nxt-combinator, financial revolution, virtual cooperative, announce, launch

I can't get the money to come in at all without 501c3 status.  In the US - you can't accept US dollar donations (paypal up to $10K, then they start sniffing) without being certified a not-for-profit by the IRS. It's also expensive and takes up to six months.

Why not just use an escrow system until the risk of fraud is over?  Sure would create a delay on getting funds, but better funding than no funding. People like me who are trying to get donations would love a service like this.

will do. Elwar hasn't responded yet. I also gave him a link to this thread.

But what if they put the received funds into an escrow system until risk of charge-back is over?

I've been working to use paypal or google wallet or merchantinc to accept credit cards for donations, but I've found they all want you to have 501c3 status, which takes a lot of upfront money and between 3-6 months of time to set-up...not to mention having the IRS breathing down your neck.  I've set-up a NXT-asset for donations via bitcoin through (https://trade.secureae.com/) , but that has a very limited audience - most people who come to the site don't know what that is and won't donate.

I suspect there are a large number of people who'd like such a service - a way to go around the banks, paypal, etc.  Suffering a delay to get funds isn't a dealbreaker as not having funds at all is a much worse situation.

Cheers

Thanks, I've sent Elwar a message. We'll see what happens  :-)

yes, I am seeking the reverse. I think it would be very helpful for the unbanked who would like to have the participation of those who either don't want the hassle of getting bitcoin just to donate or who are unfamiliar or uncomfortable with bitcoin. I believe this is a huge market.

There are sites that allow you to buy bitcoin with a credit card, so I was surprised that they haven't taken the obvious step of allowing people to link to their site with a code that would auto-generate a pay/donate form specific to the originated website.  

If there is fear regarding charge-backs they could just hold the payments until that risk is gone - a hassle for the receiver of the BTC, but better late BTC than no BTC - at least for me.  :-)

Hopefully someone will get this going soon.

I am specifically looking for a means to accept donations on a website via visa/mastercard/etc.   - I'd be fine with BTC sitting in escrow until no risk of chargeback too!  I just want this service so I won't need a bank account.

*BUMP*

Is there a way to do this yet?  I've seen a few sites that allow direct purchase of BTC with CC...seems like a step away from being able to create a link that would have your website name and BTC address that these companies could then auto-fill-in and allow your customer to give CC details. Why has nobody done this...or have they?  Anyone know?

Cheers

Perhaps gmaxwell doesn't want to say anything until there is a fix -- keeping a lid on the problem so it doesn't become a problem for the network.

I feel strongly about being shocked. However as I don't use bitcoin anymore, except transitionally to buy NXT and MAIDSAFE, I'll leave the implementation of a bounty system to those who are invested in bitcoin and who would like to see the code analyzed with a fine-tooth comb.

but I tell ya....I'm shocked!   

Evil-K has found hard bugs before, he's proven he's capable. I think he should have been taken very seriously from the beginning.

On another note, I'm really shocked that there isn't a strong bounty system in place for catching bugs in the bitcoin code-base.  shocked!  If bitcoiner's wanted serious hard looks at the code, then IMO they'd consider looking into implementing a rewards/bounty program.

Easy crowd-funding system without having to give a percentage away to third parties and less of an appearance of SEC rules violation as you might have with crypto-assets (i.e. selling securities) - only applicable if you are a recognized citizen of certain thug-zones (nation-states).

I heard on LTB today that they'd start selling ether very soon -- like within a month.

I'm very curious as to whether this system -zerocoin- can be applied to a 100% PoS (Proof of Stake) coin (e.g. nextcoin) as opposed to the PoW (Proof of Work) system that bitcoin and it's dirivitives utilize...anybody know if they are technically compatible?

Why sell it just once?    Why not make a package out of it and sell it dozens of times?  This would mean a lower price each but longer term more money for you and perhaps even an ongoing revenue stream for updates.  Perhaps another developer/coder could step in and facilitate or takeover? 

Best of luck.