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Wulf,
You put a lot of time and energy into that last post........ so much energy and time that you did not do anything else meanwhile? Well, that is what is happening internally with the devs. There is much going on, and they are too busy to blog here.
There is lots of communication going on internally. Most of the devs are in Central Asia, where the time is 12 hours different from yours, so dont expect immediate answers at noon your time.
Believe me when I say they are hard at work on it...... If you have been on this blog since the beginning, you will know that I was a very big critic of this project. I do see lots of potential here, so I invested.
The devs made a big mistake when they limited the IPO to 750BTC. Other IPOs have generated 2000BTC and more. That low limit has made the coin price higher (good for you), but limited the funds for future development. If the devs had let the IPO run for the full 30 days, or even a week longer, they would be sitting on a stash of thousands of BTC that would allow them to fill an office with programmers. That did not happen, as they listened to and followed the opinion of the community.
The current price of BTC is not helping as well.
Hiring more devs doesn't speed up the process. Usually it's the contrary as every new dev has to learn about the project which needs some time. Adding devs only speeds everything up when the core is ready and fully functional. So you will have a few devs doing windows Client, others doing Linux, .... But hiring more devs to fix a bug in the core won't speed up anything. Yet I still believe this project has a bright future.
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Never invest what you can't afford to lose. If no one told you before, you'll learn it the hard way. There is no such thing as quick and riskless 100%+ gains. I'll stick to my crypti. No need to read this topic 24/7. Eventually it will be a hit. And when it is, you'll hear it. And if it is, you'll know it without reading this thread.
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It's a lot of text. Bitmark sounds like an impressive project, but the price doesn't follow.
Well yes, the idea behind is pretty good in my eyes. But at the moment - as you said - it's a lot of text. Price won't follow text, as most "investors" here don't read what they are investing into. They are blended by catchy buzz words and by quick bucks. Most of the ideas proposed aren't implemented yet. And marking is not possible yet. So if price was much higher, it was certainly a hype. At the moment BTM it is not hyped in my eyes. Yet it is not deadly cheap either. 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.
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I like it. The slogan makes me think that I can chose. I am in the lead. It's simple and catchy.
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I really like the opening post. The links in that post provide all the necessary information. All you have to do is read. And be willing to read. No big buzz words. No hype. That's quite a good "spam filter". ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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Perhaps it's fair to say that it's monetized word of mouth.
...
...and you can have multiple accounts. ...
Word of mouth is worth much more if you know the people who recommend you something. It's a difference if a friend recommends something or a complete stranger. I would trust 1 close friend more than 5000 strangers. If it's easy to create multiple accounts, the problem I see here, is that one could create fake accounts to like its own content, only to get to the front page. App developers are buying downloads and ratings, only to hit top 25 page. That's expensive. Here it is almost free. You mark your own content and get your own marks back. Contend marked by true people (those having a facebook account with 50+ friends) would be better than content marked by someone with a one way trashmail address. However I also don't like logging in to another platform with my facebook account... Yet I hope this will be a success. Tipping and being tipped feels good. Hitting that button must become an addictive feeling. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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I hope that helps answer your initial questions, and welcome you to ask many more ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Thanks for your reply. The Pfennig thing is clear and quite clever. If others implement new features that are good, BTM could use them aswell. Sort of a testing playground for BTM. I have more questions. I just read the wiki again, more carefully and it says The marking system is by nature a massively scalable viral system in which all fair participants earn marks.
Bitcoin is quite limited in transactions per second (I read about 7 tps). If marking will be a thing, there will be many many transactions per second. Many micro transactions. Won't this bloat the blockchain, since every marking event is one transaction that has to be processed. -- Each user then has a store of all the things they have marked on getMarked.org.
So if you mark something it is tied to your user account. Getmarked would know about all the stuff you like and custom ads could be easily tailored just for you... This might be a lucrative side business. If the marking is public then it is published on getMarked.org and the user becomes it's marker. I have no problem with the things I mark appearing on getMerked. However I'd perfer if this wasn't tied to my user account. You could imagine a feature like "See all stuff marked by s11made". Although this is quite a cool feature if you find people with similar interests, I wouldn't want that for my account. -- I had a thought about the gift cards / key cards. Think of selling keycards with private BTM keys that are dynamically filled with a given amount of BTM. You pay 5$ and get a privat key that holds 5$ worth of BTM. (this might not work for plastic cards because the $ value is volatile, but for online cards) You can enter the purchased key at getMarked and have 5$ worth of Marks. (One issue - If someone found your key card, he could use the remaining funds that are held with the private key from the card.) Since people are used to gift cards that are no longer valid after you once entered the key, it would be best if a auto-transaction to another account would be initiated after the key is entered on getMarked.
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I really like those buttons. However I didn't get it at first sight. But now I do! I immediately thought: If Wikipedia had such a button, I would certainly donate few BTM. Wiring them money is too much work, but a 1 click donation is awesome! However I am wondering if this is safe to us. If clickjacking or similar stuff would be possible, that would be really bad. How could you protect your funds ? In crypto there is no such thing as payback if coins are once sent?! One more question to see if I get it: If I want to use the button and pay with it, L'll have to create an account at getmarked.com. Now I will fund my account with BTM. If i visit a site that uses the marking system, I can use it. No further authentification needed. Just 1 click ? A totally different thing: What is the purpose of Pfennig ? Why would I need a BTM clone ? Those clone currencies can't be used to mark can they ?
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I expect the price to skyrocket within 24 hours of release.
Based on what analysis ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) Based on human (crypto) behavior I think that price won't skyrocket this time. Usually on launch date, only a few people have their coins on exchanges. Therefore buyers > sellers. Now with crypti, almost everybody has their coins on BTER. Therfore it is possible that there are more Sellers than buyers. Few more days and we know for sure.
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14% Use the best code, NODE The best code ? How could we know ? It's closed source. ANd who is interested in the code ? As long as everything works as expected, no one is interested in code. You won't reach mass adoption by boasting how well your program is written... The slogen tells me nothing what NODE is about
13% NODE - itīs DONE It ? What is done ? This is really vague and doesn't tell me anything what NODE is about either.
12% Node - Together We Grow Hopefully we do, but hey. If I hear that slogan, I don't think of an payment processor, or a currency....
5% NODE - Be your own bank 5% NODE - Become your own bank
I think that these 2 are almost the same and should be seen as 10%. That slogan at least tells me what Node can be used for. Even though I don't think it's wise to use node as a store of value. A Bank should yield constant 0 risks interests. I expect NODE to have a lot of Volatility. So Storing one's value in it might no be the best use case.
6% Node simple and safe payments. This tells me what I could use NODE immediately for. If I want to pay online, I can use NODE. Maybe "NODE - simple & secure online payments"
And who actually reads all those suggestions?! Just submit as many suggestions as possible so your chance of getting that stake is bigger. Maybe share 1/2 stake among all the voters. SO you will have more participants.
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Have a quick question... I used to have a few test coins. Now my balance is 0. Has the network been resetted / Have all test coins been removed ?
When will the distribution be over ?
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Why do I see a list of all network transactions in my interface ? I am not really interested in that information. That's quite confusing if you ask me.
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no tomorrow is the final day to puppet removal launch is soon soon soon i think ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) According to their ToDo List, 30/07 is the last day to submit a complaint. Analyzing process will have an end by August 4th. So we might have to wait 4 more days. But maybe all complaints will be processed earlier.
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@ s11made
- The auctioned stakes were determined to be in the Member list, reason is that those members invested for the other expected half of investors. Those giving us the boost to implement the first part of the project.
I am perfectly okay with those 100 stakes being taken from sock puppets. I wanted to buy some more stakes myself, but unfortunately I was on vacation and couldn't bid when the auction ended. However the more I think about it, the less I like the idea of another auction. My reasoning: Someone already paid for those coins. Unless you refund sockpuppets, you actually get money twice for the same coins. ( That's no critics, as you refunded everyone who told you he was a puppet before the removal began! good job here! ) Further, your development costs are covered from now till launch. And since development fund isn't touched before launch, you will have 15% of the market cap for further development.
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we want to give the user a couple of stakes for project assistance, other stakes that user who helped us look for puppets and so on Do you agree with me that every care should be rewarded? Someone sitting, and someone in the community works We will make accurate calculations The remaining coins will be spaced between 1341
It is hard to understand. Maybe it's the best thing if koop handles the communication affaires. What I understand is that those who helped in puppet removal should be rewarded. I agree! There aren't 1341 users anymore. Not sure why this number keeps being mentioned ?!It simply makes no sense to divide the 60% of the coins by 1341 if there are only around 900 users that will get a stake. If you distribute the remaining stakes (1341-900) equally to all investors, you can juste devide 60% by 900 investors. Maybe I see your logic. The following calculation provides no real numbers and is only a try to understand the logic behind the coming coin distribution.There were 1341 participants (socks included) in the first place so you "artificially created" those 1341 stakes. Now You say: well everyone is supposed to get 447427 coins (600m / 1341) no matter how many individual users there will be. Lets assume in the end we have 900 users. -So there are 441 remaining stakes (1341 -900). Now we had a second sale where we sold 100 stakes. -So there are still 341 remaining stakes. Now some guys helped you remove the puppets, lets give them 1 stake each (wild guess, no one said they would get one stake) - so There are still 335 stakes left. Now those 335 stakes could be distributed among all the users. - So the remianing 335 stakes (around 150m coins) are equally distributed to the 900 users. In this example everyone would get around 166.000 more coins. So we end up with ~613500 coins
If you just divided the 600m coins by 900 everyone would get around 666000 coins. (Which is only around 8.5 % more coins )
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@koop4u
Thanks for your clarification.
I have one more question though. Here a brief list of I saw events:
-IPO finished and 1341 users were in the list. -Devs were unable to complete project as fewer users as intended joined the IPO and needed further funding. -More stakes were put to auction for the project to have a chance to be completed. -Puppet removal began .
Final member list is about to arrive. If I counted correctly, we now have 935 individual users on our list. And 726 users that have provided an account ID. These 935 refers to diffrent users on the list. NOT to stacks allocated during the second sale as some users have more than 1 stack.
Is it correct that the stakes sold during the second sale are taken from the members fund at the moment ?
In my eyes 60% of the coins should go to these 935 users. All the stacks sold during the second sale could be taken either from Promotion fund or development fund. A short reasoning why: According to devs, the project was at risk to fail without further investments.They had to support the coin in a suitable way. And that's what developers fund is for according to their definition. - Developers fund's purpose is "for developers to perform functional and system support". Developers use their coins to support the system. - Promotion fund's purpose is to "encourage people to participate" . That was the case here too.
What to do with late comers that didn't create their account by June 27th ? I think as long as they create an account Before the coin actually launched, there is no reason not to provide the full stake. After that date Only 20k should be provided. My reasoning: It will fascilitate your job! You can give the same amount to everyone on launch (60% divided by investors). And you can give the same amount (20k) to everyone that claims their coins after the launch.
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NODE - Become your own bank
Good one! I ike it. Maybe "NODE - Be your own bank" .
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Node - Why wouldn't you use it ?
or
Ease the pain. Pay with Node !
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Vc = dv/dt
Two things here: First "Price is what you pay. Value is what you get." - Warren Buffett Second: That formula makes almost no sense to me. Not sure "Value" can be "change in value" over "change in time" . Totel Price isnt either change in price over change in time. Here an example:According to your formula: 1 day without any change in value ( delatv = 0 and deltha t = 1 day (or 86400s) ) V = 0/ 86400 so total value would be 0. Guess that's not the case. edit: I'm sorry: you define Vc as overall change. However not sure either what this should tell us.
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Most of the time they re-change what is not accepted by the community. And with their statement, that there is no dictator who tells what to do, I believe that they will stick to the 60% as they initially said and we investors agreed upon . An auction would still be possible and would not violate the initial statement.
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