Yes, buying up FUNK on exchanges is important, and I've been doing a bit of that this week (got some very cheap too).

I think the best immediate catalyst for FUNK would be converting your excellent min.io site for FUNK. Next might be some marketing material, like a slick looking video, and some form of sponsorship of 'live music' somewhere in the world. The reason I think FUNK needs to establish itself in the 'live' music scene is digital content can be copied, and most people under 30 expect movies & music to be free practically. Live music can't be pirated, and if we could organise a gig where the band got paid in FUNK, and the audience paid in FUNK, then that would be awesome, and if someone made a video it would create some nice marketing material too.

I'd be happy to contribute towards a bounty for a Cypherfunk gig. These gigs would be like FUNK faucets.

Another FUNK faucet  could be the modified min.io site. Have a promotion whereby every new user who signs up on the site gets X amount of FUNK to spend on the site. If there was a FUNK web wallet the whole thing could be made relatively painless for non-crypto people (i.e 99.999999% of people).

Anyway, keep the FUNK alive guys This is a very noble endeavour you guys are on.


[Bootsy Collins - BASS legend with James Brown & P-FUNK - when your ass starts moving when you hear 'Sex Machine', thank Bootsy Collins]

I'm trying to install Monero on a 1GB digitalocean VPS. I've followed all the instructions from here:
http://monero.cc/getting-started#linux-tutorial

When I try and run 'make'  I get this error output which indicates that my VPS  'CPU you selected does not support x86-64 instruction set'

Does that mean 1GB digitalocean has too weak a CPU to even experiment with?

Ok thanks, that makes sense.

I think monero is the most exciting thing to happen to crypto currencies since probably litecoin, and as it's based on a completely different software, it's actually much more significant than litecoin.

I'm actually liking the fact that it's down to command line gui. I'm a complete ubuntu newbie. and I still haven't worked out how to compile monero on a fresh digitalocean VPS yet, but I'm learning new stuff, and with only 18 million coins MRO is still very cheap.

For all those people who've been staring in the mirror each morning for the last year or so going, 'fuck, what would life be like if i'd discovered bitcoin in 2010", here is your chance for a mini re-run.

I do have a newbie question though, why can't someone compile the linux source? Why is it better to compile linux version yourself, but we all trust windows binaries?

WTB 5k MRO @ 0.00035 = 1.75 bitcoin

You might want to post in the StorageCoin thread on the NXT forum too.

https://nxtforum.org/parallel-blockchains/storagecoin/


This forum has a scam accusation board, but you should probably post your Sia thread in the altcoin announcement board. That's where this StorageCoin thread is.

https://bitcointalk.org/index.php?board=159.0

Thanks for posting here David. I'm looking forward to learning more about your plans for Sia.

WTB 5000 MRO @ 0.0003

will accept smaller quantities @ 0.0003

My heart wants to agree with you Simon!! I'll donate 100,000,000 FUNK to the Mothership collective!

Oh well, sometimes you win, sometimes you lose. bugger

Yes it is complicated. I've been a garage band drummer for 20 years and that's why I've taken an interest in FUNK (only been paid to play once), but my background is in economics, and what first drew me to the crypto scene initially was the economics and the possibility for things like complementary currencies that blockchain technologies make possible. Economics and finance can be complicated, but they're part of the crypto world now. At the start it was just the tech that was innovative, but now it's smart contracts and decentralised exchanges. That is the way ahead.

My use of the word 'Parliament' might have been a bit misleading as to my opinions here. I couldn't resist though as I'm a huge fan of the band Parliament (aka P-FUNK). I'm not in favour of centralisation, or creating a business, or anything like a mini-fed, but I am in favour of co-ordination, at least at the start. I think FUNK could become a fantastic community currency but it does need someone to co-ordinate some things to help reach critical mass.

Yes, I can see my idea does sound very complicated!

I think eventually FUNK will be the currency, but at the moment I think the linkage between the Cypherfunk band and the FUNK currency is very weak. They're related but only through you guys as the dev and early adopters. People are uploading music for free, and anyone can download it for free, so FUNK is not involved at all so far. I know it's early days and I can see you plan to modify your http://min.io/ site to accept FUNK, and that would probably be the tipping point to much wider adoption.

I do think that eventually iTunes and other big online music retailers will start accepting bitcoins, and once that happens it will be harder to establish FUNK as the crypto currency for the music community. Most people like simplicity, and the network effect will probably only allow a small handful of crypto currencies to survive.

Right now FUNK has early mover advantage, but you need to distribute FUNK to as many people as possible asap. But as FUNK is 100% POW and there was no pre-mine you don't have a FUNK war chest to use for promotion etc. I know pre-mines are not popular with many people but we're now seeing a whole bunch of pure POS coins taking off, and some of them will do well because they can distribute coins using a pre-defined criteria. If the criteria is fair and attractive and transparent, pure POS coins, or POW coins with big pre-mines have some advantages.

My P-FUNK suggestion was really an option to maximise donations to some 'entity' that can distribute them for the greater good of the Cypherfunk vision. I know the country coins air-dropping coins to Iceland etc have raised a lot of eye-brows, but the idea in principal has many advantages. If you had a big holding of FUNK (say 5-20%) you could pay a nice FUNK payment for every upload of music to a modified http://min.io/ and you'd effectively have the beginnings of a FUNK based competitor to iTunes. That would be cool, but if iTunes and bitcoin get there first it'll be Apple and the Winklevii type of investor who control the crypto/music revolution.

I'm not into centralisation, or suggesting you start a 'business', but I am suggesting you need to foster markets for music related transactions in FUNK, and that's going to be difficult without a large holding at your disposal.

P-FUNK could be an alternative means of getting a community pool. You could just ask for donations, but IMO you'll get more if you offer some incentives and have a 'plan' on how to foster FUNK. I know you have plans, but you don't have a stack of FUNK to giveaway. Burning FUNk into P-FUNK might be too complicated, but it would give you a rallying cry to generate some community interest.

To some that might sound like centralisation but what I'm advocating is 'co-ordination', and without a pre-mine or a pure POS distribution it's much harder to do.

Have you heard of LTBcoin? AdamBLevine from Letstalkbitcoin is creating it as an 'asset' on top off counterparty. It's a pretty cool idea -contributors of content on their site/network will be paid in LtbCoin. Then they'll require advertisers on their site/network to pay in LtbCoin. Simple idea but quite brilliant. Cut-out the middle man by creating a link between two parties. But it requires the site owners 'controlling' the issuing of the LtbCoin asset. Not all centralisation is bad, and blockchain technology makes everything transparent and out in the open.
http://ltbcoin.com/ltbcoin-for-new-users

I think FUNK & the CypherFunk band is a great vision, but without a war chest of FUNK and some 'control' it'll be harder to make that vision a reality.  Creating P-FUNK might give you an asset like LtbCoin which you could use to promote FUNK. You can't go back in time and reboot FUNK with a different feature set, but you can 'add' useful features in other ways.

I admit it is complicated, and it might not be needed, but you need to link FUNK & the Cypherfunk content together, and with FUNK as it is I think that'll be hard, but not impossible.

edit: I came across this today, good example of what you can do with a 'war-chest'
http://bitcoin.mit.edu/announcing-the-mit-bitcoin-project/

Can I get that on t-shirt lol

I do agree with you about JUG, Papa Nutt (the dev) is a super committed dude, and if the Juggalo community start using JUG coin amongst themselves I can honestly see JUG in the top 10-15 on coinmarketcap in a few weeks.

I wanted a similar sized stake in NXT but didn't want to effect the market price heavily, and didn't want to spend weeks/months of buying on exchanges, so I approached a couple of NXT stakeholders privately. It wasn't hard to find one who wanted to cash out a large proportion of their holdings in one go. The reason why is expressed well in this post.

https://nxtforum.org/trading-exchanges/nxt-market-report/msg13625/#msg13625

Do it privately.

I've had an idea I'd like to share.

I said before that maybe a pure POS coin might have suited the goals of Cypherfunk better than a 100% POW coin like FUNK. I thought this mainly because in order to setup FUNK as a local/community currency you need to have a central 'authority' to 'create' the token used for the complementary currency ecosystem. Without a central authority to distribute the token it's very hard to establish any viable economic transactions using the local currency. The central authority acts like a mini FED, treasury, bank, exchange, employer, merchant, promoter and rule maker etc etc, and without a central authority I fear FUNK will fail.

As it stands, POS might be better suited for a community currency 'token'  because at the start a central authority controls & distributes ALL of the currency, but POW is truly decentralised, and thus easier to secure the network through mining long-term.

I've brainstormed an embryonic idea for Cypherfunk that could potentially marry the two (POS & POW) so you end up with the best of both.

What if you created a central authority to facilitate the 'community/local/complementary currency' aspects I keep banging on about. This central authority would be a non-profit organisation who's charter would be to promote and sustain the Cypherfunk band through promoting music & gigs, and generally supporting the implementation of the Cypherfunk vision.

For now lets call the central authority the Cypherfunk 'Parliament' (bare with me, I'm an old George Clinton fan!).

You would then make an IPO announcement that for a set period (say 4-6 weeks) people can 'burn' FUNK 1:1 for P-FUNK. All the P-FUNK created would be controlled and distributed by the Cypherfunk 'Parliament' for use in promoting music and gigs, and all the other needed activities to allow your vision for Cypherfunk to reach critical mass.

As long as the exchange rate of 1:1 between FUNK & P-FUNK is guaranteed by the 'Parliament', those who wish can mine FUNK and carry on as usual and sell their coins on an exchange, but for those who want to help establish FUNK for it's intended purpose (i.e. promoting & paying for great music to be created) they have the option to burn FUNK for P-FUNK.

Maybe there doesn't need to be a deadline for the 'burn', I'm not sure. Either way, I think this idea does establish a mechanism to create a central authority out of the existing FUNK currency, and it preserves the benefits of POW and mining for the coin network.

If you wanted you could setup the 'Parliament' to pay dividends to the 'shareholders' if you wanted to sweeten the deal. I think this idea could work with the 'Parliament' being a non-profit OR a commercial venture, so that's up for debate. If there was a way to offer incentives to people to burn their FUNK for P-FUNK you would probably raise more P-FUNK. I'm still unsure of what would be the best structure for the 'Parliament', but that's something you guys could work out later.

I've already picked up some cheap FUNK from allcrypt, so I'm ready to burn a wad of FUNK for P-FUNK to help the cause.

Anyway, I felt like I needed to brain dump that idea asap!

Got my coins too!

Good work guys, thanks

I agree with everything said above! You want to make FUNK valuable, and at the start offering to pay a musician or a venue in a 'strange' crypto currency that's worth a minuscule amount does seem like a difficult task. But it's not impossible. In order to succeed you need to convince the people being paid in FUNK that there is a very good chance that what they're being paid today will be worth something down the track. Anyone looking at a price chart of bitcoin can be convinced to see the potential. FUNK has everything that bitcoin has, but it has a specific PURPOSE, and a COMMUNITY.

IMO the key is to think along the lines of local/community/complementary currencies. Look at case studies of what other groups have done. The essential task is to link unused resources with unmet needs via the introduction of a 'token' that's created by somebody or a group. Who creates the 'token' and how they distribute them becomes the task for anyone setting up a community currency.

As long as buyers and sellers agree (or can be compelled) to only use the community 'token' for transactions involving the goods & services you 'control/organise/influence', and there are ways to exchange the token for other currencies, the mere fact that NEW goods & services are produced that otherwise would not have been will eventually give value to the community 'token'.

Many local currencies work in this way. A local authority will create some 'local dollars' and give them to people who undertake needed work that isn't being done because the local authority doesn't have enough fiat resources. The local authority then works to get the agreement of local businesses to accept the 'local dollars' 1:1 with the national fiat currency. People accept that the 'local dollars' have value because they can buy things with them in local shops. As long as the authority who issues the local dollars is 'trusted' not to mess with the supply, the local dollars stimulate local business AND pay for needed work in the community that would otherwise not occur.

Community/local/complementary currencies can do great things, and crypto currency technology makes them very easy to setup now.

In some ways FUNK would be better suited to a pure POS coin like COMM or ShareCoin, but in the long-run POW is decentralised and secured.

Don't give up!! FUNK has so much potential.

IMO you have all the key ingredients for a community currency:

- the token or currency
- the basic raw materials for the goods & services (i.e. music & musicians),

so the task is to COMPEL the 'buyers/audience' to pay in FUNK, and to CONVINCE enough suppliers of the other raw materials to accept payment in FUNK also (i.e. venues, equipment hire, sound engineers etc). You need to encourage people to hold their FUNK payments and not convert to fiat, otherwise people will mentally calculate exchange rates and feel like they're playing for free. I don't advocate anybody playing for free but I do argue that at the start people who contribute music etc need to be paid in FUNK - everything is transacted in FUNK.

I believe if FUNK is to succeed all involved must be encouraged to view the value of FUNK as a long-term proposition, and while today a payment of 1000 FUNK is practically nothing, one day it might be worth $10, or $50, or $100.

Great articles! Well done CoinsSource.com

Trade completed.

I really love some of the music uploaded to Soundcloud - awesome!

I've been thinking about the FUNK currency, and I think of all the altcoins at the moment FUNK has one of the best chances for success. Most other altcoins wont be useful in the long run, but FUNK could be as a 'complementary currency' as it is targeted at a specific audience.

I like this definition "a complementary currency can match unused resources with unmet needs"

So, in the world of music and musicians you need to identify:

1 - unused resources (e.g. a musician who would like to perform but isn't)
2 - unmet needs (e.g. someone who wants entertainment)

and then match them using FUNK as the payment method.

One way to do this would be to organise events like festivals and concerts where the musicians MUST be paid in FUNK, and the tickets must be paid for in FUNK. At the start you could give-away sufficient FUNK to cover the ticket to almost everyone but it would encourage people to setup a wallet. These events would be like FUNK faucets. Most musicians often play for free anyway, but with FUNK there's always the chance that their FUNK payment for playing would be worth something eventually.

Eventually if FUNK caught on people would go to an exchange to buy FUNK for the payment. Once we have mobile payment options for crypto currencies this would be easy (hopefully!)

Another idea would be to license the music from the Cypherfunk stable for use in advertising, movies etc etc and always pay & charge in FUNK.

As a local/complementary currency for musicians the options are limitless for FUNK. Just match unused resources with unmet needs by making all payments in FUNK.

I would really love to see FUNK & the Cypherfunks succeed, and I think the key is to borrow from all the great ideas of complementary currency pioneers.

One guy I can recommend is Berbard Lietaer - http://en.wikipedia.org/wiki/Bernard_Lietaer. He's a complementary currency Yoda, and his books would be useful as far as ideas on how to make FUNK a music 'complementary/local currency'. All his books are good.

This is his latest:
http://www.amazon.com/Rethinking-Money-Currencies-Scarcity-Prosperity/dp/1609942965

Just wanted to pass that idea on.

Good luck!