Hey folks we're edging ever so close to being dropped from bittrex at the end of this week unless trading picks up. I was able to save us from doom last week but its in the hands of the community now!

New thread here: https://bitcointalk.org/index.php?topic=708854.new#new

This thread will serve as the official new discussion thread for the OPEC Coin project. You can find the original announcement and subsequent discussion here: https://bitcointalk.org/index.php?topic=633593.1720


I will refine this post as available time permits but would like to take a moment to establish this post so as to assure the OPEC Coin community that this project is in progress and on track to continue. Bellow is a quick FAQ aimed at those that might not be familiar with the current direction of OPC as well as to those that are and would like to know where we're heading.


I'm new to OPC, what is it and who are you ?

OPEC was originally developed by an individual whom is both anonymous and has since vanished from the scene. Some suspect that this was his intention all along and he just wanted a quick buck. The truth is we don't know and may never know. The coin's original purpose is described in the thread linked to below. If you haven't yet, I would advise reading through at least the first posting to get an idea of what OPC's original goals were.

Right, so who are you and why should I trust you ?

I mined OPC & have bought and traded it. I believed in it's purpose and still believe it's goals can be achieved if shaped, guided and backed by its stakeholder community. I'm not a programmer by trade but as a Linux Administrator of 15+ years I have dabbled in some coding related projects and am comfortable scripting in many different languages. My intention in taking over the OPC development is to as follows.

1. Rebase and maintain the security of the softwares codebase.
2. Review, rework and clarify the coins purpose(s)
3. Work towards implementing new functionality and features via adopting changes from upstream sources ( other coin projects with active and trusted developers ).
4. As the project evolves, matures and gathers greater interest from stakeholders and trusted developers, establish new features and functionalities that will tailor it to better suit it's purposes.

Finally, I have publicly published my personal LinkedIn profile in the post linked to above. I am not developing this project as an anonymous developer and anyone else whom is selected to contribute to the project is intended on making their details public.

What's the timeline ?

Right now I'm getting settled in at a new job. I am devoting what free time I have available during my public transport travel (where I'm typing this) to and from work on this project. Currently however due to training my priority is to my paid job so I am somewhat limited at present in time and resources. I will be able to contribute more time to the project in coming days / weeks. There is a lot to be done and initially a lot of this is behind the scenes so I won't have much to show for some time.



My commute is coming to a close so I'll have to continue this at a later time.

Already done that.

As for the name, for now well probably stick with it but we might need to change In future per trademark type issues.

Hey folks!

I'm still here and intend on developing an the coin. I'm in the process of setting up a build system to help test and automate the compile processes for both windows and linux builds.

Currently settling into my new job so things are a bit hectic but moving ahead.

If you believe in the coins future please continue to trade on BitTrex as we are coming close to the chopping list due to the amount of trading!

Indeed I took the opportunity to pick up some cheap coins myself

I'm all for ideas and re-working the coin. I would like to see multiple use purposes personally but ultimately would like to aim for the coin to mature to the cost of a barrel of oil in USD. As I've said previously I'm currently in the transition phase to a new job ( which I literally start tomorrow ). I'll be able to work on the coin during my public transit time ( which is a whopping 5 hours total each day.. not even close to joking! ). I'm currently working on sanitising a base source to work on top of and if all goes well we should have a new wallet ( no major features just updated official nodes ) later this week.

The issue of premined coins has been discussed previously to some degree. Unfortunately it's just not possible and really if the original developer had the pre-mine for the purposes of cashing out, I'm guessing he would have done so at around the time he disappeared ( I have NOT confirmed via wallet balance ).

I personally don't have a lot of funds invested in OPEC, only what I managed to mine and can scrape up from BitTrex. What I do have is a lot of faith in the objective of this coin and that's what is fuelling desire to move forward with the project, I'm not looking to establish another PnD cycle for this coin. I'm putting my name and personal details public because I want to show that my intentions for this coin are completely transparent.

At present I am narrowing down a suitable existing coin to use as a base. One that shares some of the same feature benefits that we want to see incorporated into OPC, one with transparent and devoted developers and a community backing. It is my hope that we as a community once we establish our coin via this base can also contribute in some way, be it via a foundation of left-over swapped coins or via community donations to help give back to those developers and any that contribute to OPC directly as well, including, in future hopefully myself.

Indeed, Digit and Cannabiscoin did the same swap as well. The only problem with that is that I would likely need to take care of all the swapping manually which I would prefer not to do but if that's what people want than I'm willing to seriously consider it.

I don't necessarily want to revamp the coin but I do want to make it easier to innovate on top of. This ultimately means we either establish a new coin from scratch with a new POW/POS phase or we convert current coins to a new wallet built upon new source code from a trusted existing coin base that already has features we want and looks promising.

Currently I'm liking a mixture of SuperCoin's anonymity if this can be secured, and I do personally like the idea of variable interest but I'm not getting much feedback from the community as yet.

im currently still in the transition stages of new employment (They make you wear pants, I'm going to miss working from home!). I start this coming monday and will have about 2 hours public transit time both ways with internet and computer to dedicate to the project. I've cleared any conflict of interest problems with my new employer but will need to sign some precautionary paperwork on monday as a safety measure.

I am in consultation with a few mates some of which are familiar with c++ whom might be able to lend some juice to the project.

As soon as we can agree upon base features, we as a community would like to start with then ill get the process of coding.compiling and testing the new wallet.

Assuming it is me you are asking, my stance is that we should hold off on any official push to get further listed until we reload and relaunch. With that said this isn't my coin, this is the communities coin and if the community would like to opt for another choice than my opinion is ultimately moot.

What about a variable interest rate that would fluxuate from 1 - 5(?)% based on how many coins are staking in the network?

I've had some time to think this over and in order to most effectively perform a takeover of this coin what I feel necessary is for us to re-launch with a new coin using new sources. My decision making behind this course of action is to ensure that there is little to no breakage.

I hereby propose we decide upon a new base source code. One that preferably has trusted developers behind it and / or has shown that it is innovating and paving the way through the future.

Some of the features I would like to see in OPC moving forward:

* Variable interest ( similar to Guerilla Coin )
* TOR anonymity and possible some form of CoinJar for mixing ( or SuperSend )

The above can be most easily implemented if we start from scratch. This would mean that each and everyone would need to swap in their current OPC for an equivalent amount of new coins ( insta-mined ). This does present an issue in that we can only hold such a swap open for a limited time ( 2 but maybe up to 4 weeks ) as it will require infrastructure and the resources needed to process the coin swapping itself ( which will ultimately come out of my own pocket ). This issue this presents is that ultimately some current coin holders will either not bother to or simply won't know that such a swap is taking place ( this is also why I want to present this information well before we go ahead, assuming we go ahead ). Would you as investors feel confident in this remaining funds being donated to a foundation of sorts to help pave the way for the coins future development and infrastructure costs ? Perhaps this may depend on how many coins are left over in the end.

I would like to see this coin advance and I believe heavily in it's future. We can not advance without ultimately paying for such innovation and if the idea of a funded foundation sounds reasonable to everyone I would like to begin pursuing available options in setting one up.

Please speak up!

Some oil to get your gears moving!
http://www.gulf-times.com/eco.-bus.%20news/256/details/398622/kuwait-finance-firm-suggests-trading-oil-in-bitcoins

I've registered two new domains and will do my beat to have something online ASAP. I'm guessing the old admin neglected to pay his web hosting bill which is not surprising given is disappearing act.

The problem with that is the premine was created with a single block. It's not just tips that were paid out but bounties as well and I personally can't foot the bill to replace those bounties out of my own cash supply. Once I can sit down and determine how much of the premine remains ( if any ) than we might consider what if any action might be best.

OK folks the ball is now rolling! I've registered a new domain name and should have something up soonish. I'm in the process of transitioning to a new job and am presently spending the bulk of my free time with my family as I won't get to see them much when I start work again. On the up side I will have to commute to and from work and will have a good 4 hours a day during that journey to work on OPEC coin starting mid July. Expect minor updates in the interim.

I don't want to ask for donations especially not until I have something to show off. If you do feel the need to part with anything monetary, the best thing you can do at this point is keep the coin actively trading at the exchange! This is the time to buy!

Also I haven't started a new thread simply because we probably want to run the tip bot dry. Though I might launch a new thread once everything is ready to rock.

Ok guys, I hope we've had some fun and perhaps maybe some time to think about my previously mentioned pseudo-offer. I'm going to take this post to lay my cards out on the table.

If there is still interest in this coin I would like to propose that I take control over development of the core client. As previously stated I am not a professional programmer, I am a Unix/Linux systems administrator by trade and do a little bit of scripting and coding as a result of my line of work. I do know a couple of people that can assist with high level code issues and I'm happy to keep the code base hosted through github moving forward.

To begin I do not foresee any immediate change in direction other than possible updating the source to merge in appropriate upstream changes. In a perfect world we could have perhaps done away with the original developers pre-mine block but as that has already been distributed some, I don't think it would be fair to those whom have earned their rewards to have them vanish as a result of the original developers untimely departure.

I would like to see this coin flourish and to do so we will indeed need to evolve and implement new features. As previously stated, I believe there is more than enough innovation taking place within the Crypto community which we can incorporate into the OPEC Coin codebase as these technologies advance and prove themselves within their current ecosystems.

I will not hide behind any curtains, I will disclose my name and I will be upfront and honest. I will involve our community and if and when changes are made it will be up to a community vote on how and when those changes are implemented. Suggestions and ideas are all welcome.

I can't promise to always be available. I have a wife, two daughters and work life to balance but ANY free time I do have will be put towards turning this Coin and community into a well oiled machine. If you, the investors would like to have me, I'll get stuck in. I'll leave it up to you all to have your say.

Who am I ? https://www.linkedin.com/in/beaudh

We're assuming at the bottom of a deep lake in an old used oil barrel somewhere.

This is clearly a whale or Pod of well organised whales.Very interesting to watch but I feel bad for those unlucky buyers that will end up panic selling at the end.