its less than 7% pre-mine.

Bergstake FAQ

Do I need to know about Bergstake to use BRO?
No. Breakoutcoin can be used like any other digital currency, users of the currency will never encounter the Bergstake, but should know that Bergstake is used by miners for the purpose of securing the coin and the network and prevent double spending.

How is Bergstake different than Stake?
When you own a digital currency, you have “stake” in it. The stake that you own was  transferred many times over before it reached your wallet, just like that dollar bill in your pocket.

The story of the coin starts when it was originally “minted” by a process called “mining”. The miner, presented a “proof” that was accepted by the network and added to the blockchain. As a reward, the miner is allowed to give herself a number of shiny new coins. She then mints these new coins by making a transaction that sends coins to her wallet. These coins now enter circulation and will be transferred from wallet to wallet as currency.

Bergstake is the “stake” of a coin at the moment it is minted. Before the coin is ever transferred; Bergstake is the Stake! Once a transfer is made, there is a new stake holder, but not a new bergstake holder. The Bergstake is forever owned by the initial minter, and cannot be transferred away.

So whats so special about Bergstake?
The properties of Bergstake allow the use of “Proof-of-Bergstake” to reach distributed  consensus and secure the blockchain. The technical details are out of this scope, to learn more, please research Proof-of-Work and Proof-of-Stake blockchains. See our forum threads for links to white papers.

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ANN thread coming in a couple of hours....

chill BRO, its just a hypothetical. you should learn exactly what a crypto-currency is before investing anyways.

look at the context. of course BRO will be integrated and the exclusive currency of breakout gaming.. i was just pointing out the merits of the coin on its own.

and please remove the red bold text, once your satisfied. ty

you didn't hear it from me, but there may an early bird discount. im watching too! #bro 

 

shortening the PoW time window is something we are open to.  a shared PoW and Bergstake phase still needs to be flushed out. one idea is to have PoS interest during the PoW phase. having a phase with both PoW and PoS block signers has fundamental problems, that I have not yet seen resolved.

By taking bullet points out of context and muddling facts with opinion, you are creating Fear, uncertainty and doubt (FUD) .


You original question was why the gaming platform needs a new coin. and then you go on to say that most coins will fail, and that you don't expect this coin to stand out in any way.

Your question seems to lay down the assumption that the gaming platform can succeed without the coin. My bullet points highlights some possible reasons breakout gaming can benefit from breakout coin. It also highlights how BRO is innovative in itself.

You then take my bullet points out of context, and use them as a basis for your arguments. Again, my bulletpoints were on the assumption that the gaming platform is sound, and on the path of success independent of the coin.  

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The question as to why any coin is needed in the first place, is totally arbitrary, and debatable.  Dodgecoin was started as a joke, yet was "successful". There was a full show on lets talk bitcoin debating the need for LTBcoin, which never got resolved, yet they went ahead and launched LTBcoin anyways.

To have a FUDless discussion, we need to setup the assumptions.

Lets start by totally separating the coin from the platform. Breakout gaming was seeking to incorporate new and innovative features to BRO. They approached me to design and implement BRO based on the innovations from my Satoshi Fantasy white paper.

-- BRO is a crypto-currency, an "alt-coin". It is no worse than any other alt-coin. In fact, it claims to finally solve all the issues plaguing Proof-of-stake.

-- Breakout Gaming is a gaming platform startup, with poker pros backers, and a strong marketing and promotion arm.

-- since BRO is distributed and decentralized, it will not have any hard connection to breakout gaming once launched. So ICO investors, should look at BRO by itself when deciding to invest or not.

-- all crypto-currencies are based on new experimental technology, and should be considered extremely speculative, there are many different ways investors can loose all their money.

if breakout gaming is successful and follows through to use BRO exclusively, and if BRO is a technical success, then there is a case to be made that both the coin and platform are stronger together than alone.

play money tokens? where u get that?

thank you. the coin stands on itself. no worse than just another alt-coin.

the magic happens because the users are there for the games, we have fantasy esports games, for a younge demographic and fanatics of spectator esports.

no its doesnt need value, only utility. but it has value , this value is a side effect of the various gaming laws and regulations


much lulz back.. u win 5 Internets

its a coin, a token, its solves the nothing-at-stake problem. it maybe worthless, but it should still be in the top 10 market-cap, because its all worthless. including fiat, and cat memes

RTFM!
 

something strange in your neighborhood....




who you gonna call???





FUD busters!
 


fyi. i can answer any questions you have. just ask nicely.

I dont know enough about it. i thought that with bitsharesX you can have a proxy to anything like BitGold and BitBTC as well as BitUSD. im still not clear as to how BitUSD maintains its value of $1.  

like I said, its been a while since I looked into it, was on initial conf calls back in the the invictus-innovations days before the divorce.  

Edit: and FYI, coinmarketcap is a little misleading, in that 4 of the top 7 are 100% premined, and the available-supply just drawfs the volume. There needs to be a new measure to rank these pre-mined coins. The price is meaningless when the relative volume is so low. the concept of liquidity is missing from that site.  

bitshares != bitusd

is BitUSD live? active? viable? have not looked into bitshares since the old whitepapers.

Captcoin and all other coin-age based PoS coins, are really not decentralized currencies, stake grinding and nothing-at-stake, has forced all these coins into over reliance of developer checkpoints. If your going to do 100% pre-mine, might as well do DPOS.

We feel that active miners add more than just security to a coin, it builds a base of users with intimate knowledge of coin, and sweat equity helps in the long term survival.

Monday the earliest. The should be an official update tomorrow.

Once POW ends and Bergstake starts,  it will be impossible to obtain more Bergstake. So whatever the distribution looks like at that point, will continue forever. The two years of mining  coupled with the ICO, should have the effect of distributing the Bergstake as widely as possible.

Think of the bergstake as an out-of-the money call option, or lottery ticket, that you get for free each time you solve POW. ICO investors will also get Bergstake.

In the limit as as POW time gets closer to 0 , the coin basically becomes a 100% pre-mine, which we do not want.

Interesting idea regarding concurrent PoW / PoS , would have to flush this out.


@myagui - yes, the basic method would depend on a access to local BTC keys.  we are working on a solution that would enable the use of web wallets.

if anyone has some suggestions we would love to hear. bounties will be available.

Please explain your mistrust. Without an ICO, only miners would be able to obtain BRO. With the Bergstake feature, we feel that the risk of large miners / pools having a majority stake is to large. So the initial offering, should work to distribute coins to investors / smaller miners / crypto-newbies.

ok. fixed. I am now authenticated. That message appears each time I get logged out of the IRC channel.

-- im assuming you have not traded btc from the bitcoin-otc irc channel.
-- you can read the wiki here: http://wiki.bitcoin-otc.com/wiki/Main_Page  and http://wiki.bitcoin-otc.com/wiki/Using_bitcoin-otc
-- you can checkout the orderbook here: http://bitcoin-otc.com/vieworderbook.php

 i'll explain.

-- there is is a "web-of-trust" for traders in bitcoin-otc. where each time a  successful trade is complete, you can rank eachother. This is primarily used to determine who sends first. So if i'm buying your BTC with my USD, and I have a higher rating than you, I will require you to send the BTCs before i send the USD.

-- however, anyone can change their nick on irc to "jaybny". so how do you know that "jaybny" that you are dealing with in the chat room is the same "jaybny" from the rating system? This is done by using pgp and gribble.

http://en.wikipedia.org/wiki/Pretty_Good_Privacy
https://en.bitcoin.it/wiki/Gribble

-- I ask gribble to authenticate me.  he sends me a challenge string, that I sign with the same private-key associated with "jaybny" in the web-of-trust.
-- now I am authenticated.

jaybny: ;;gpg auth jaybny
gribble: Request successful for user jaybny, Your challenge string is: freenode:#bitcoin-otc:d67b646b8721ec0c69263a1cc617589eb79044f6eccf04b4ad32abc3
jaybny: ;;gpg verify http://pastebin.com/9wZRxwsx
gribble: You are now authenticated for user 'jaybny' with key 0DDC66BA24D5CC4A


-- however, scammers can trick newbies by using the nick "jaybny" to negotiate a trade. they would then convince the other party to send the BTC first by pming this link:  "http://bitcoin-otc.com/viewratingdetail.php?nick=jaybny"  

-- so the big bold red message "This user is currently NOT AUTHENTICATED...." was put there to warn you not to trust  that the person you are chatting with is "jaybny", until he authenticates with gribble as "jaybny" with pgp.

blah

-- the gaming platform with a built-in exchange will create a unique environment that can support BRO coin by providing unprecedented liquidity.

-- by creating a new coin, it enables the use of a small portion of the BRO pre-mine, to be widely distributed through freeroll contests.

-- BRO uses an innovative new proof-of-stake algorithm, which makes it a viable currency on its own as an alternative to bitcoin.

-- the coin and the platform each can survive on its own, but together they are both stronger.

ok, will explain.

-- There will be an announcement with the start date and time of the initial coin offering.

-- during the initial coin offering the will be a web page with a countdown of the time remaining till the close of the offering.

-- while the offering is open, there will be exact instructions on how to invest in the ICO.

-- to invest in the ICO, simply send any amount of bitcoins to the breakoutcoin "genesis"  bitcoin address

-- once ICO closes, you will download the breakout coin wallet, on the same machine as your bitcoin wallet, and your breakout coins will magically appear in your breakout wallet.