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But seriously, it's very interesting.
Today, whoever controls the bandwidth, controls the Internet. Wikileaks with it's constant bandwidth problems at time due to DDOS attacks, is a good example for that.
Taking this power back from corporations hand, would be quite attractive endeavor.
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Why, they dilute investment opportunities too early on?  |
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Your model relies on people burning lvl 1 coins to counteract the inflation.
You have no way of assuring (No matter how good your coin is) that something better wont come along next year. So why risk 75% of your returns if you need to sell your position in a year. The answer is you wouldn't.
So what you basically saying, is that only future there for deflation systems (like BTC, NXT, LTC, etc...), which have a predefined finite value? Isn't it a bit against the law of nature? For example gold is being considered as finite standard and a good anti-inflation protection - but this until someone will figure out how to synthesize it or mine it in space, for example. (I'm not asking this specifically regarding LVC, but in general notation of finite financial systems). |
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Moreover, it's arguable whether giving Devs 1500 BTC is better for the incentive. If I were the dev and got 1500 BTC, I could be quite lazy and tends to enjoy the life instead of coding around the clock.
Therefore, it has to be a foundation manage the 1500 BTC transparently for bounties. In that case, centralization may lead to corruption, and community are reluctant to contribute and only paid coders work for money. Look at the progress of Mastercoin.
Imho despite all NXT IPO shortcomings, we should learn how they, being very interested stakeholders, sponsor together initiatives purely in NXT. They understand that NXT is worth so much only if the development and promotion are kept being pushed. Actually BitThink, perhaps you can share some of the insider tips of how they are doing it so successfully ? |
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A small amount could be shaved off the XCP amount before being dispensed to the recipients. I send 1 BTC to an address. I am awarded 1000 XCP minus 2-3% which is award to the dev accounts (I get 980, they get 20).
This would be an autodonation, but we know that they couldn't run off with my BTC, they would actually need to develop XCP into something valuable to profit from my BTC.
This actually would be a great idea! As the devs would be paid in XCP anyhow, they would have a vested interest to keep pushing XCP further. Well, I do hope we manage to reach a similar balance once the wallet is out, and people can easily sent XCP donations to devs. |
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I just hope this community can pull together and fund at least enough money for PhantomPhreak or xnova to work on this full-time, considering that the other competitors will have plenty of funds to pay salaries.
A rule of thumb was suggested here to donate 3%-5% of burnt XCP, provided devs will publicly display their expenses (like MSC, PTS or NXT do). I think it's a fair preposition, and everyone should consider doing so in their own self-interest. |
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In hindsight I think you're right and it seems extremely wasteful not to mention if they'd used proof of key owner head of oxfam, we probably could have got crazy returns as a $2million donation from a crypto startup would have been mainstream news.
I quite sure it would have not accumulated 1.5K BTC that way. People are sending them exactly because they sure (hopefully) that no one can steal these BTC's. |
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Learned a new term, didn't know what a troll box was and had to search for it. Now I know it's the chat window I really liked on Coingrounds, the short-lived PTS exchange. I loved it. It was a lot of fun and very informative watching the real time commentary on the trading by different types of stakeholders, along with my occasional question getting quick answers.
AFAIK it really got popularity from btc-e - speaking of masses control done via manipulators there... |
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I believe that language is fine - remember it's only a low level, and can be always extended by higher level UI and services.
What more worries me, is that OP does not respond regarding any additional transparency or evidence requests.
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What's wrong with C? Its still one of the most popular languages in exsistence and has benefits over C++..
+1, but you have to be experienced enough in order to create an extendable and maintainable code. I can point quite some open-source projects that evolve much slower then they should be, due to these exact issues. |
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I expect to have the client itself complete by launch which is on the 31st.
The rest of the resources including continued development depend on the funding amounts.
The more funding the longer I will work as a dev.
Imho if you increase the transparency just a bit (like said facebook posting), or reduce the risks a bit (prepare plan, release early binary, release video), you will have much easier time raising more funds. I'm on the fence exactly due to reasons above, and I'm sure that many others too. |
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In other words, the new burner is giving money to the earlier burner!!! The new burner from now may become loss!!!The risk is becoming more as the burned coin increase. The new burner may have great risk now.
Is it me, or this was said already? |
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Nice they mention XCP! Also, how come coindesk knows about new counterparty site earlier then us the loyal supporters?  http://counterparty.co |
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I doubt that screenshot was faked. XCP uses a VERY similar system.
XCP provided actual usable code from day one, and uses Proof of Burn (where no money goes to dev, so there is no sense in scam by default). By the way, are there any 2nd gen features planned for this coin? |
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That profile is a half dozen years old. It is not updated to reflect the past couple of years of my life. I do in fact live in Michigan at the moment.
You missed the sarcasm in my post. Let me clear it up. Yes that is my Facebook, but I want to keep personal, professional and hobbyist lives separated.
I'm sorry I gave you enough negative impressions worth jumping to conclusions over. The members of this forum are a rowdy bunch I'll give them that.
I think that if you post some innocent status update on Facebook (like "Moving on with my pet project "), and then reference it here, it will be enough for the most people here. |
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Would it be a good idea to try to keep this coin on the DL until after the burn period is over?
We can all keep it hush and try to keep the thread bumping and promoting at a minimum until the burn is over.
yes, except that there is already 1,400+ BTC burnt. So.... cats out of the bag. This will not be another NXT moneymaking bonanza. It seems there is more money to be made in scammy altcoins and promise-to-do-something protocols than the actual thing..-- Nevertheless in terms of a protocol/currency being adopted the later has much better chances (even if the devs do not get super rich from it). While it won't bring quantum jump as NXT did (after all, Nxt is quite unique being both first PoS and having a very limited initial distribution), I still expect a very solid profit on this technology. It very depends how market adopts and runs with it bringing innovative features onwards. Also motivating the devs with donations is a significant part of the success . |
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Obviously the program assumes you know the commands, which makes it very new user unfriendly. I plan to change that.
Is it uses a real main net or test net? Somewhere that we can see the results of the operations? |
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