Most crowdfunding platforms allow whatever fiat currency you use to convert to USD. The reasoning for why we need to do this at present is outlined in post #902. I do foresee that this will change one day, but right now we don't have cryptocurrency platforms to do so, as we need to bridge the space between funding to development. It may be an extra step for a few people, which sucks, but in the bigger picture it's no big deal.

In an ideal world, perhaps the world we're building, funding ideas through cryptocurrency is a huge step forward. Unfortunately, we're not there yet. There are a number of things to consider at present. Firstly, as much as banks can cause people headaches, in most cases money in an account is insured against theft. It'd be great if we could have something similar for a cryptocurrency as well one day. Secondly, we want to do this as professionally and transparently as we can with the medium available to us. The fact of the matter is that most individual developers or teams of developers would enter into a contractual agreement with us for the development of Netcoin, or a component of it. That means paperwork, invoices, documented transactions, etc. That could happen with cryptocurrency as well, but in all likelihood any breach of our agreement wouldn't be as enforceable as it would be in traditional systems.

I know it's not ideal, but I'm thinking of the best ways to my knowledge that we can do this as smoothly as possible. There are no guarantees whatsoever with this, which is why I want to stress that if you can't afford losing what you put toward the fund, please don't do it! It would be horrible to know that if something goes wrong someone suffered because of it. Having said that, tacotime, xwebnetwork, and myself are all putting in money of our own as well. Hopefully the advance notice will help you with this. I think one day this will all be very different and we can incubate ideas through new platforms for sure.

There will definitely be plenty of notice! I think a week or two notice should be okay for everyone before we launch the crowdfund. Exciting stuff!

That's a great idea. Thank you. tacotime is reworking some entropy-related issues in the paper based on what Impaler identified. I can send you a PM when the new paper is out and get a raw version to you if that helps with translation. Getting the next iteration of the paper translated would be really good. It's changed quite a bit since the last version, so I would recommend waiting for it to save you some time!

As long as you put it in a page, we can always move it around as you refine your ideas. Adoption of ideas that change the details within tacotime's specifications at this point is problematic because we want to try and move development forward as soon as he finishes the paper. Anything is worth putting up, and of course, if it's something that can be done without changing the underlying features of the coin that can be organised independently of the coin itself. Throw it up on the wiki and we can have a look!

We'll have some info about the crowdfunding and other details about the specifications this weekend. I'll take a few days after tacotime makes this public to prepare a concise package of exactly what everyone gets for what they put in. I also want to detail exactly what's going to happen during and after the funding. There will be bumps along the way, so I just want to make sure everyone understands exactly what's going to go on so nobody (or close to) feels unhappy with the process!

You should be. This is all new territory. I think if it goes well, and everyone is happy by the end of it, we can look at applying it as a model for bringing new and experimental ideas to life. That's why crowdfunding is great, we can bring alive something like Netcoin Alpha after Netcoin and keep it as a parallel experimental steam with minimal financial contribution per person for development to really push the limits. Of course, that's getting way ahead of the hard work in front of us, but I've got high hopes for the future of crowdfunding and ideas like these.

Wow, great job! I'll do some touch-ups a bit later as I go along to save you the hassle. Looks good.

Okay, Wiki seems fine now. Even on a shitty tethered connection in the middle of nowhere, I can use it without too much drama. Let me know if anyone has any trouble.

The Wiki is painfully slow right now, and I'm not sure why. I'm working with XWeb, who hosts the Netcoin stuff, to figure out why. In the meantime, I've managed to put up the stuff tacotime wanted to push out, so if anyone is interested: http://www.netcoin.io/wiki/Netcoin_Proof-of-Work_and_Proof-of-Stake_Hybrid_Design

He's going to go into detail (greater detail than the paper) on the Wiki. In all likelihood we'll be able to do that concurrently with crowdfunding the project, and getting paid developers assembled. Unfortunately I don't have a recent update on his thinking, but I'm sure he'll chime in as soon as he gets a chance!


Yeah, that's right. Sorry! We'll have to update all those links. Forum is now at netcoin.io/forum. It'll open soon when we move into the next phase. Not trying to be a tease, but we don't have much to talk about until we have a development update, so it makes sense to open up the new forum when that happens.


You should start a White House petition so they can talk to TacoTime's prime minister, who can then talk to his school and see if they would let him take off some time to work on this full-time. Development is going to take the form of a crowdfunding run where the funds raised will go to development of various components of the proposal. The exact terms aren't finalised yet, but essentially the stake funders occupy in the network is required for its security. Ultimately the goal is to contribute to the public domain a body of work, where Netcoin is an implementation of that, which can't function without your stake in it (if that makes sense).

Nope, not yet. TacoTime is conceptualising the new PoS system. It'll be in the new whitepaper, and likely the last revision before development.

I always thought this was an interesting perspective when it comes to Bitcoin versus others. I don't look at it as competition. Netcoin is the beginning of what some guy thought would be an improvement on what Bitcoin developed into. So he decided to share those ideas just like Bitcoin shared its ideas. It's all about building on top of what's good. At the end of the day, I will call Netcoin good on a personal level if it's freedom-enabling for people, as opposed to systems that are about controlling people (like most scamcoins - just my opinion, no flaming intended). That's what I want to work toward and play a part in!

Does anyone have a Reddit account that's older than 90 days with 500+ karma? If so, please send me a PM. It's in regards to the Netcoin subreddit. Someone parked it a few months ago and has subsequently disappeared.

There is a procedure to get moderators added to it through Reddit, but it requires an established Reddit account. So if you have one and would be interested in helping moderate, please let me know! I'm a Reddit lurker, so unfortunately I can't follow the procedure by myself. It'll be really helpful to the project's future to consolidate that subreddit so we can pass some information through there as well! We could use a different subreddit, but it's kind of pointless to have an abandoned /r/netcoin when we gather momentum with this project in the future.

Please let me know if you can. Thank you!

Technically this is the peer review stage. There have been some great points discussed here that were incorporated in v0.03 and v0.031. The same goes for the next version, but the idea is to get it to a technical point where it's ready to move into the crowdfunding/development phase. Some of the other stuff talked about is auxiliary to that process. For example, there's been talk about services and mining bonds, and so on, all of which are important ideas, but a bit beyond the scope (and budget) of the actual coin software. So that would be a good community effort down the track.

The next iteration of the whitepaper is almost done. If all goes well after that we can open the crowdfund and get developers ready.

I've been in there a bit. People flow through the chat and I answer the questions I know how to answer. TacoTime visits the chat as well when he has the time.

Hey everyone,

Thought I'd share some logo work. I'm not a graphic designer, so this is a very v0.01 type design. I've linked the SVG (Inkscape) if anyone is interested in building on this. The biggest issue is any logo has to work on some level at 16x16, so that's worth a thought. If you want to iterate through some changes, send me a PM, so we don't flood the thread. Here's the SVG.

I can't speak for TacoTime, because I just do the dumb person stuff, but if you can convince any of those people you mentioned or anyone experienced to take a technical interest in this project and actually make changes to the paper for peer review, that would be a huge push forward for Netcoin in helping him carry the burden. Regardless of where you stand on cryptocurrencies that aren't Bitcoin, I firmly believe the ideas introduced in the whitepaper are necessary to the collective diffusion of innovations in this ecosystem we've built. That, of course, I think is linked to human progress, which is big and lofty, but it's what I believe.

If anyone with influence in this community can help bring smart people to contribute to TacoTime's ideas with the technical advancement of the whitepaper (prior to any development), I will do whatever I can to make sure those ideas come together and have the resources to become real.

There are a few things we need on a non-technical side. Good graphic design is one. You can send an e-mail to volunteer {dot} mc2 {at} gmail {dot} com if you have anything specific in mind. TacoTime mentioned in his first post donation addresses to answer your question about LTC. However, we are planning a crowdfunding opportunity to make the development happen. There is one more planned cycle to make some theoretical improvements to the paper, which TacoTime will upload. After that we'll get the ball rolling!