Thank you for posting this, it is exactly what I needed for the IPM Pool (NOMP), as it allows us to automatically switch syndicate miners over to traditional pools after their time working for the IPM is done.

Does anybody mind if I migrate to using NOMP before launching the IPM Pool? It'll defer the launch of the UI until Monday, we'll keep the pool running with miners all weekend?

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Do we need to have the exchange conversation again?

Pro
1. Increased distribution of coin supply
2. Public visibility and transparency
3. No possibility that people can claim we have had a long public pre-mine, or that we are a community of 'whales'
4. Allows miners to continue supporting the network by providing a way for them to cover costs

Con
1. Possibility of excessive speculation and manipulation
2. Risk of attacks on the community and network
3. Increased noise in our conversations, without an adequate method to mitigate it
4. Changes in price tag may adversely affect the project and any earned value

There is a trade off to be made, one decision potentially hurts us now, the other potentially hurts us in the future.

A fair question may be, what can we do to mitigate the risks associated with each choice? Let us also consider, are we in a position to clearly convey what Bitmark is about, and handle the increase in traffic?

We cannot decide what to do, it will result in a battle with casualties, I will not be part of that battle. The decision may not even be ours make.

We can decide on how we can prepare, we should do that now so that we feel more ready.

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We have begun to document various service ideas which have been suggested by community members, each of these can be done by any third party and perhaps used within businesses or as the foundation of new businesses which run on bitmark.

There are also ideas for individual people, and solo start ups.

You can find all of the ideas on the Service Ideas wiki page.

To find out more about our unique approach to adoption visit getMarked.org

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We are actively seeking funding to enable us to rapidly develop getMarked, getMarked.org, and various integrations of the Marking system in to popular open source software used around the world.

A shortfall of 6.5 BTC is required in total to cover all work and resources. All donations are also partial investments, with 20% of the BTC donated used to mine BTM for the donators.

By donating you are both enabling us to massively increase the adoption and utility of Bitmark through a novel multifaceted project, but also acquiring BTM at a fair price and increasing it's value.

^{getMarked Funding Goal: 1.11 of 8 BTC, with 1.05 BTC pledged - Get (bit)marks and help make them more useful!}

Thank you defaced, if you have any input on the matter speaking from experience, please do.

We are currently trying to decide what to do about having our currency added to an exchange, whether now or later.

I am reaching out to the community in order to get your informed opinions, and help us prepare for such an event.

Please follow the thread from here and discuss on that topic not this.

Thank You

You are not a miner, you are an investor. Please read https://github.com/project-bitmark/bitmark/wiki/IPM-Pool

Thank you for sharing this.

For the sake of interest, you can also bootstrap the Web of Trust in the opposite direction, which adds a layer of transparency for those who do not want to be anonymous. Simply by signing the url of a document that describes you with your private key(s), and placing the signatures on it. This establishes ownership of both things, the Bitmark Address and the persons URL, thereby establishing identity.

Identity and Reputation are two very important and interesting spaces.

Also on the topic of getmarked, here is an interesting email

We have many avenues to explore.

If you could hold them for me for two weeks, I will gladly commit to buying the lot.

Regarding miners, we have already solved the situation for some miners, the IPM Pool requires a lot of hashrate, the deal is that we will pay you a fixed rate to hash for 24 hours, which covers all of your rig costs for 36 hours, so long as you take that profit in BTM by mining for yourself for the extra 8 hours. That way miners support the network, have all their bills paid, and get to take out BTM as a reward.

Already 180MH/s has been committed, others are welcome to join.

We have three things at play, value, production cost, and price-tag.

• Price-tag and production cost are correlated strongly, we already know the production costs at any given time.
• Network difficulty determines the production cost and price tag.
• Difficulty is a measure of demand.
• Value (usefulness, adoption, value proposition) create the demand.

By focusing on value the rest handles itself, we are creating limited value already measurable to real people, this project is impacting their lives. This is raising demand, difficulty is rising, production costs are rising, and the price-tag will reflect that whenever it is shown.

The problem with exchanges for altcoins is that they create an artificial demand, where market movements based on speculative self interest or manipulation appear to be the measurement of demand, and therefore the value.

I understand your points and can empathise, that miners have costs, I am sure we can find ways to address this, with or without exchanges.

You say "if you can't buy or sell BTM then it really does have no value", this is where we disagree. We can see many valueless coins which people buy and sell.

Consider just buying or selling goods and receiving or giving BTM as the unit of payment... that is the goal is it not?

Exchanges are a bi-product required to swap from one currency of value to another, in order to spend that currency. Exchanges in this scene are games where the ones with the best marketing campaigns or the most pre-arranged win out.

We do face an issue which I think surfaces between the posts of this thread.

On the 13th July 2015 when we are one year old, there will be 10,000,000 BTM in existence, which must be distributed reasonably fairly. Maybe it is better to describe it as 10,000,000,000 Marks and then we can frame things more clearly.

This can only be achieved by balancing supply and demand, within the context of getmarked this correlates to producing a reasonable figure which new adopting software would be armed with or require. The users of each software or community will distribute the marks within themselves. Collectively the communities will increase demand and value.

There is an optimal figure to find based on some average adoption projections.

Let us say that:
1. the users of each adoption will require 5x more marks in the first year than they first acquire upon adoption.
2. each adoption leads to 2 more within 4 months.
3. we will start with 4 adoptions in the first 2 months.
4. the network reach of each user will be 2 deep, with 40% shared contact and 45% distribution to those contacts within a year.
5. The average number of users for each adoption at adoption time is 800.
6. 40% of the bitmarks will be retained by investors or traders, with much lower distribution than average users, and amounts measured in BTM rather than Marks.

These are example figures, but already we can extrapolate some example findings.

6,000,000,000 Marks available for Marking.
4+8+16, 28 adoptions.
800+(1600*0.6*0.45=432)+(2464*0.6*0.45), 1465 users per adoption.
28*1465, 41020 getmarked users after one year.
6,000,000,000/41020, 146252 Marks per user after one year.
146252/6, 24375 Initial Marks required by each user per adoption to use all 60,000,000,000 Marks available for Marking.

By these example figures we would need to launch 4 getmarked adoptions armed with 19,500 BTM each in the next two months, to distribute most of the marks mined over the first year to 41k users.

Now consider instead that we target four communities with different software, and add getmarked support to the software they use, open source.

This could increase the number of adoptions by 4 or 5 times easily, reducing the number of BTM required per adoption by the same measure, to say 4000 BTM per adoption.

It would also suggest that the number of users would be higher, Mark distribution further, and Marks per user much lower.

My instinct is to suggest that 150,000 users over multiple services with an average of 6,000 Marks, or 6 BTM each, is achievable within a year.

Make up your own projections and see what you come to, the average of all we suggest will be closest to the truth, and give us some idea of how many BTM to provide the first four adoptions with.

The good news is that only 5 million Bitmarks are mined in the first year, so you can half all of these figures.

If the average user only has 6,000 Marks, cannot get any more, often uses and receives them. The do you think the average 'Marking' will be 1 Mark or more like 0.05 Marks?

We are the developers and community who assist you in your ventures, and you are part of that.

Already we have worked together to find a novel solution to running your miners long term, and far more besides.

If you are developing a community trading site, let us know the details and any potential issues you may see, such as managing reputation and community members, or integrating securely with currency software, and we will do what we can to assist you, while developing generic solutions which can be applied to other projects with similar requirements.

No. But you may freely use and clone Pfennig, it's the latest Bitcoin forked and moved to scrypt, fully tested, and it gitian builds. I released it freely exactly for this requirement. It will also be updated to each tagged bitcoin release, and also merge upstream tagged releases from Bitmark, so you get the best of all worlds.

Check the commit history to see the applicable changes you may need to make to another code base.

Hint if it's for a fork of an old codebase/clone you are going to have significant work, you may be better to apply any changes to Pfennig, if you do each feature as a pull request then we could build a repository that enables any coin developer to apply patches to the base code and configure a safe modern alt coin. Instead of the existing old rubbish.

Best regards, and if you need assistance with forking pfennig I will do what I can to help.

How novel, somebody should do that.

Many of our members frequently have problems with the firewall of china, even simple things like having confirmation emails from exchanges stopped.

This post has two goals.

1. To document the problems our community members behind government imposed firewalls encounter when using cryptographic currency.

2. To propose and find ways to assist them.

My own first proposal is to create a network of operating system images, which can be hired or freely turned in to micro computing instance for a short time, to allow members of our communities to boot one up, connect via a remote desktop client, do what they need, before closing the instance and removing any saved data. Maybe this is too simple, do you have other ideas?

Perhaps someone would like to translate this post and replicate it in language specific sub forums.

Thank you for your time and consideration,

Mark

Bitmark's Value
A currency with no initial price tag, and which earns value over time? No exchange? What is it's value?

8 separate partnerships have been formed to set up businesses and services around Bitmark and getMarked.

Most members of the community are discussing Marking with their real world friends who have no interesting in crypto currency, several of them have suggested to set up businesses around it, asked for help to set up mining rigs, or are discussing ideas for things to be built on getMarked and have approached me to ask if I can help with integration. These are real people who do not know crypto, sitting over lunch or beer being inspired.

3 individuals have committed themselves to earning and creating their own full time job within the Bitmark foundation, several others are considering it.

I have reached out to enquire about services to 4 medium to large real world businesses, all of them have taken a great interest in the project and are emailing me daily to discuss what they can do to support and how they can be involved.

60 or more miners are on the network full time, only to acquire bitmarks, and to take all profit in bitmarks not other currencies. 2 professional mining syndicates have committed to support the network and take all profit in BTM. No Bitmarks have been sold.

The community members directly in contact with me daily or bi-daily who are creating things for or on bitmark now number more than 40. With 15-20 spending all their available time focussed on the project and it's offshoots. Nearly every person who has messaged or posted is now involved in some capacity.

Every one of these people, apart from some minor exceptions, plan to use Marks as currency, and also reputation. They are focussed on increasing it's usefulness, using it with others they know in real life and in multiple communities, and can see many ways for them to use it in various avenues of their life.

We are 13 days in to the project.

Now, let me ask you a question, how can this enable you to do something you will enjoy doing? Where will you enjoy using it? Read it and see if you become inspired, then let us know and we will support you in achieving your goals in every way we can.

If you are deeply engrained in the current alternative coin sector, a miner, trader, or investor, maybe our IPM Proposal can be applied to your interests?

Outside of this project there are other issues, for example helping our communities to work with government imposed firewalls.

^{getMarked Funding Goal: 1.11 of 8 BTC, with 1.05 BTC pledged - Get (bit)marks and help make them more useful!}

Agreed, we can begin work on our wonderful marked powered bitcoin.co website in the next day or two. It will have a positive impact on every part of the project I am sure.

I agree thank you for posting that Vald. Allow gave some alternative suggestions after and will be showing us all 3 proposals tomorrow. I have seen two and they are very smart.

IPM Pool Test
The outstanding results from the previous test have been sent, generating 3306 BTM for investors and 174 for the Bitmark Foundation


Medic, Schnotzel both of your investments are complete. Pablo yours is partially complete, Danny yours will begin in the next round.


The remaining investments will fill the live IPM Pool from tomorrow until complete.

Summary of recent topics
1. Bitmark Mining Speed Calculator
2. Solo Mining Documentation
3. Comparison of the Currency Supply of Bitcoin, Bitmark, and Litecoin
4. bitmark.co, getMarked, discourse.org, BeerAdvocate, and more
5. getMarked - providing instant one click viral crowd funding for everybody in the world at web scale.

Extended discussion of 4 and 5 which focus on our adoption plan can be found on previous pages.

^{getMarked Funding Goal: 0.9/8 BTC, with 1.15 BTC pledged - Get Bitmarks and help make them more useful!}

BTM takes 721 Blocks to mature, roughly 1 Day.

The rationale for this decision is can be found on the wiki.

I was asked to review the Viacoin code by some people who have bought in to it.

Here are all the VIA specific code commits: https://github.com/viacoin/viacoin/commits/master?author=btcdrak

I encourage any independent programmers to also review and check my findings.

Viacoin is simply Bitcoin Core, rebranded, with basic scrypt support, and limited testing.

To put this in to perspective, here is Pfennig, this is simply Bitcoin Core, rebranded, with scrypt support, and full tests. It is free for anybody to clone, and amounted to a few days work by myself, with no investment.

I cannot speak of what will come in the future for VIA, it may be wonderful, I cannot see any code so do not know.

I can say that the current implementation is no different to any average clone you find on this forum. Perhaps it is supposed to be this way. I know my own currency is simply bitcoin converted to scrypt and configured differently, there is nothing wrong in building on and maintaining a strong code base.

Let me make it clear that this is not an attempt to discredit the project, their plans, or what they may achieve in the future, it may be amazing.

If you invested in Viacoin because you thought the code was different and unique, this is not the case, yet.

If you have invested in Viacoin based on what they may accomplish then nothing has changed for you.

I wish you all the best of progress with your projects and investments,

Warm regards,

Mark

He became inspired and has created something new, I am very impressed! He is putting it in context now so he can you show you all

getMarked icon design, feedback request


I have agreed with Allow and asked him to create a visual proposal of this, does everybody agree?

Mining Calculator

After seeing this discussion I've put together a quick mining calculator: http://bitmark.co/miningspeed

I'll make it nicer at a later date, add in any network hash speed in MH/s and click calculate.

update: fixed

No. Would it help if I created a quick calculator to show you how many BTM you would mine for any given hash speed?

I can do one for you all quickly but it won't be beautiful as I have limited time.