Opinions can be expressed. Decisions will be by the community.  After reading most of the thread and discussions on voting, my own suggestion is to hold off on voting for quite some time. This will allow a fair voting system to come to the fore. More importantly it will also mitigate some risks of pump's to your currency, as people will know their are more shares to be released. They could also be held as a kind of quantitative easing, released fairly during price-tag rises to further distribute supply and ease the market back towards a fair average. Finally, you do not know when you may need such shares, you may produce a novel form of distribution where Ora is integrated in to existing communities, who's members may require a stake. You may also find that stake sizes can change over time, as adoption grows, perhaps issue a fixed percentage of the current remaining stakes each time, so that issues get smaller in line with adoption growing. So I suggest that you hold off for as long as you can, demand and times to distribute will appear in the future. Best of luck with the project, it's one of the few I am watching  |
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Just went through the Ipm link.
Indeed a good one and when can we expect it?
It is all but ready, I am working on both a combined website and IPM pool interface as we speak, and have been funded by the developer loans receive so far for a week or more full time, so certainly in the next few days If anybody else would like to take up the funding offer 5.5 BTC of developer loans are still required to help me work on this full time for the foreseeable future. |
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Is there a multipool that pays out BTM?
Not that I know of Gpu mining is awful. Glad to see a responsible Dev. Cheers Just to be certain of your meaning, and in case the GPU question arises again GPU miners can't mine it fairly, it's impossible, arguments there in wiki ain't make GPU owners to mine it. Lots of Titans will land on this coin and in a week expect incredible difficulty. You have to make it at least scrypt-n, so home miners can win several months. This is it. Good luck.
GPU miners can mine Bitmark fairly, you will receive an amount of BTM according to how much hashrate you commit to securing the networking for it's users. Mining is a service offered, not a money printing machine. If you offer a less efficient service that is not as beneficial to the users then your service will not generate as much revenue. Technology progresses over time, GPU miners made CPU miners redundant, ASICs make GPUs redundant. You keep up or you fall behind. I am the developer, I do not have an asic, I cannot mine the coin I created. When I can I will buy an asic to do so, and if I want to sooner I will hire one, or later buy some BTM, but that is speculation on my part. My service is not mining, my service is developing. If your service is mining then treat it as a business and upgrade your hardware, or target your service at people who require gpu hashing to secure their network. Bitmark's focus is on it's users, the decision to use scrypt is in their best interests, to keep their network reliable and secure. For the sake of interest, the last person to ask about GPU mining above, sammy007, has been on the network since, and in IRC every day One approach for GPU miners who seek to get more BTM than their hashrate allows, is to use a different multipool to get BTC, then move BTC in to BTM, or ask for the development of a multipool which pays out BTM. Personally I'd rather encourage stable miners who support the Bitmark network through high hashrates and low, they will have the lowest average production cost of anybody, and reap the most rewards long term. In the near future you will also be able to automate the multipool process through the IPM Pool, you could set an exit BTC address to be the input address at the IPM Pool, and convert to BTM this way. Or perhaps you could be one of the BTC paid miners for the IPM, where you have all your running costs for 32 hours paid in BTC, and mine for the IPM for 24 hours with all BTM going to the investors, then 8 hours for yourself for free, taking profit in BTM. We have tried hard to balance the needs of all parties. |
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Is there a multipool that pays out BTM?
Not that I know of |
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I don't know if withdrawals are completely frozen or not but anyone who has money in Bter should strongly consider getting it all out if you can. They lost 50 million NXT and things are not looking good.
Thanks Este - remembered I had .02 Btc there - now out. Shame there were no signs that mywl.it was going to disappear! That and coinex.pw a few months ago and I'm not faring very well...  Perhaps in the future we could spend some time on creating a distributed secure exchange, previously I have modelled and coded such a thing, it would need more work. It's something to think about, maybe early next year. In the interim today's events have prompted me to with Poloniex and we have came up with some approaches to further mitigate risks and tighten security - although it is already very good. 1. Each week Busoni and I will speak for a short time, to update checkpoints, ensure their code is rebuilt, and notify of any changes to the code. 2. At this time they are going to inform us of the total combined amount of BTM they hold for all users, so we can see if people are using the exchange as a web wallet. If this does happen then we can try to advise our community as to the benefits of securing their own currency, and also find out their requirements to make real secure web or mobile wallets to manage funds. 3. We have agreed that I will anonymously enquire on technical forums and stackexchange as to the most secure server and daemon setup's, there are various approaches to holding wallets and storing currency, I have proposed some alternatives to them, and we now seek to identify the benefits of each, with peer review, so that they may make the best decisions. Funding Update A total of 2.5 BTC has now been committed to me, out of the 8 BTC target. Thank You to both of those who have displayed such confidence and faith in both the project and I. |
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This is the fundamental design of blockchain technology.
Correct. It is distributed and decentralized governance, what the majority decides goes. This happens constantly whether it's moving to a new client or upgrading to a new protocol. That is the design. Here it is in code https://github.com/bitcoin/bitcoin/blob/master/src/main.cpp#L2474 // Reject block.nVersion=1 blocks when 95% (75% on testnet) of the network has upgraded:
if (block.nVersion < 2 &&
CBlockIndex::IsSuperMajority(2, pindexPrev, Params().RejectBlockOutdatedMajority()))
{
return state.Invalid(error("AcceptBlock() : rejected nVersion=1 block"),
REJECT_OBSOLETE, "bad-version");
}
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Another day with another hack.... When will these exchanges learn to keep their security updated and care about the money of users.
Forget exchanges. Lets do mgw. how do you know it was BTER's fault ? maybe it was the coins fault with a flaw / bug.. Because BTER admitted it immediately, stating a weak old password with no 2FA as the reason and claiming accountability. |
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I don't know if withdrawals are completely frozen or not but anyone who has money in Bter should strongly consider getting it all out if you can. They lost 50 million NXT and things are not looking good.
And probably 100 BTC too by the looks of it. |
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redacted, I should get some sleep.
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I think they are I am a bit stupid.
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Androidicus, and others, thank you for your offer of BTM.
Let us discuss it.
My aim is to acquire BTM from those who do not see value in it or treat it as a short term investment, short term miners, day traders, etcetera. I would rather soak up that BTM than risk the valuable BTM of community members, as this would create both downwards pressure on markets and put two sets of BTM on the market, that which already is, and that which would normally be being held.
I may also add that by holding acquired BTM I can increase the value of the currency as a whole, I can also trade a portion to further increase holdings of both BTM and BTC, and hopefully provide enough to not only pay back the loans, but also to have some of my own holdings, and a budget to trade with. By doing so I would be able to fairly self fund further development without the need for measures such as those proposed.
Finally, if I took up all the offers of BTM loans I have had, I would temporarily be the biggest 'whale', and would prefer to avoid that. Simple day trading and off market acquisition in the direction of purchasing I am happy with, and see almost zero risk in - worst case I am holding a lot of BTM, exactly the thing I hope to achieve. Gambling large amounts of my supportive community's valuable BTM in the direction of selling, feels like too much risk for me to take on, imagine if somebody acquired it and bumped the price beyond where I could buy it back? No BTM, no funds for the loans, it would be a mess.
I hope that makes sense, and would value the communities input on this.
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Does anybody know if Hal is still around? My condolences if he's no longer with us but I do hope he still is.
The last report I saw was in July, when his communication ability had dropped to zero. No updates since then. You can check Fran's twitter at https://twitter.com/franfinney for updates, I guess we'll hear if he passes  |
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I'm starting to feel sick to my stomach for having defended this guy this entire time. Man!!!!!
Do not worry so much. He has offered little more than what is offered by a lottery ticket, and you do not worry about that. He may be one better as he has not asked anybody to pay anything. This forum has fostered far worse, and many people's hard earned dreams have been shattered here. A little hope, misguided or not, is not so bad. You have certainly offered no harm. Do not worry about it. |
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Medic, your are too kind, thank you for offering this security, and for your confidence.
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Even though I can see coinsolidation's dedication for the project, at the moment he is the key factor in this. BTM lives and dies with him. So it's still a huge risk.
I hope you don't get me wrong! I am holder of a few BTM and a supporter of this project and will buy more when time is right.
Yes. Any support for Mark's development benefits us 100 fold in the long run. Right now we're on the cusp of some big innovations in adoption by regular people but since Bitmark is 100% community funded it puts a lot of pressure on Mark working 16-18 hours a day on a non paying job. Especially when he has a family to take care of.
So especially if you're new to the project and weren't aware of our funding model it's no premine, no IPO ect. Our goal is to support full time development through donations. Anyone buying or mining BTM for future value can understand how much we all gain by having an top notch developer working around the clock of us.
UpdateDue to the increase in price-tag, developer loans are now closed, I will not be accepting any more. Due to the increase in price-tag all loans received are very secure. Donations are still welcome to 1KsbYk2rMvwg456PyPmLuEgERPwyuxtGRL archived ->This needs resolved. Donations do not work. Here is an alternative call for funding. I hereby request personal developer loans. The terms offered are 60 days maximum until repayment, 10% interest if repayment is in BTC, 15% if repayment is taken in BTM. Half will be used to purchase BTM, half will be used fund my time - food and such basics for home. I am confident that within 45 days the price tag of BTM will be double, through hard work full time from myself and others. I specify 60 days rather than 45, to allow time at the end to earn money by traditional freelancing should the value not double, as a contingency to make up any shortfall. I am looking to secure between 4 and 8 BTC total. 8 BTC is a top limit. Anybody who will take up my offer can do so for any amount, for the sake of management I would request a minimum of 0.1 BTC. Every rationale and fair alternative to developer funding has been explored, and this is far less risk than a 6 figure IPO, we are already past one month in. Bitmark is gaining traction and as noted I am the key factor in the short term. All I am really asking is to be enabled to work hard for you, I hope by transparency and hard work I have already proved that my intentions are good. I hope this can be addressed, so that work can progress. All loans will be collected publicly. Each lender will confirm publicly their loan unless they wish to remain anonymous, in which case I will post the transaction for them. This post will be updated to catalogue and reflect all loans. Additionally I trust that the Bitmark Community will see the magnitude of our Project and assist Project Bitmark in meeting its goals.
I will commit to pay any liability in this loan. If for any reason Mark is unable to complete repayment, I will cover any remaining balance
*(I do not foresee this to be an issue, as Mark is an honest and responsible individual)
I will make all necessary arraignments to have funds secured, 60 days from the date of the loans origination.
RECEIVED:
2 BTC 2014-08-15 d94f606f84333439ba90ca7dd209cb0c228f0ee836f236ae37b5b1ac63789155 Anonymous
0.5 BTC 2014-08-15 106f5f723e252ed04fd9c1d1c8aafc29c7c35b22d7a4d5c6f62f26ffedd6d15f Anonymous
0.4 BTC - Dannygroove, Transfer from pending IPM Pool funds.
0.5 BTC 2014-08-19 72a602daf3ae98ffa1956d1b77df4b9461e172cef2e0185b153880cff04294c4 Mister D
0.3 BTC 2014-08-21 bab652a98801623595759eeb8447563eba06f9a92a68e983faeaa1baa8fa7037 lyxx (sent to donation address by mistake)
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Thank you for that reminder Medic, I can confirm that I am entirely unfunded in every way and entirely reliant on donations.
On a more positive note. Bitmark Difficulty 102.8220513 - That is a nice milestone, Thank you.
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OK, how about the date when BitMark market cap surpasses LTC? Now that, I'd be interested in The two are quite distinct, Litecoin may yet do things which increase adoption and earn a higher price tag. My personal target is not to beat Litecoin's market cap, but rather it's adoption, along with every other currency, combined. |
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