[*] 8BIT [Dark Masternodes][Anon][Roadmap Stage 4]

[bstone2]

• create temporary website - backup of current coin state: links, downloads
  DONE: http://www.8-bit.party/
  

Great to see some action happening here!  I like the new website, its very retro. And just so you know, I took down the old 8bitcoin.org site and redirected the address to 8-bit.party.  You may also want to consider changing the logo.  Everyone knows this is a ripped logo and we should promote creativity.  I put this together a while ago. Maybe we should have a community logo contest.
http://s21.postimg.org/ulk15ts6b/8bit_newlogo_500x500.jpg

great logo!

[crypto_graphics]

So you are that webmaster... I have asked one guy if he is webmaster but I got no reply. That's why I have started new website. I will be happy to hear you still wanna be our webmaster. We need social media ninja(s), we need webmaster(s), we need designer(s), we need programmer(s), we need translator(s), we need tester(s). We need supporter(s) . We need ideas, we need criticism, we need FUN THEN PROFIT. I can do all those things alone, but wait, do we want to see 8BIT glory in 2029?

If it's your logo and you grant me permission for using it I will replace current logo with your one. Sure own one is better. In case of logo contest, I nominate and give you my +1 to make you coordinator of logo contest. Even if your proposal will be the only one, that's fine. I wanna see community saying: yes we want this logo.

Ladies and gents, get involved now, not later. It's gonna be an exciting ride.

OK, now let's focus on current tasks. We need online communication channel. Shall we use Slack or just IRC? Let me know. You have 24 hours since now to show your opinion here. After 24 hours I will count posts. It will be not permanent decision, it's just something we need ASAP to discuss background of incoming storm - hardfork (especially roadmap to convince exchanges to follow new version).

Yes, I was the old webmaster. Actually there were two, it was Starin and I.  Truth be told, I'm not sure I'm the right guy for handling a website, my web skills go no further beyond than wordpress.  I would be better utilized in the graphic/design department.

I think I would be willing to help out but only if I am in direct communication with you and the rest of the team.  Everyone on the team will have direct access to a Slack Channel that reports progress, vision and ideas.  Between the team, there will be no secrets and everyone will be a first name basis.  Now if anyone on the team wants to stay annonymous in the public eye, thats fine but never between the team.  You see I don't want to see anyone's time wasted.  Seriously, the previous Dev left a bad taste in everyone's mouth and we're all not convinced that your not the previous asshole DEV that abandoned us holding the bag.  I'm not going to let my time be wasted on a project that is being built up to be abandoned. 

That being said, I say let's go for it!  Let's recruit a couple guys, get a Slack room started and see what we can do to revitalize this crazy idea that we call 8BIT!
And as far as the logo image, your welcome to use it.

[mastertrader777]

So you are that webmaster... I have asked one guy if he is webmaster but I got no reply. That's why I have started new website. I will be happy to hear you still wanna be our webmaster. We need social media ninja(s), we need webmaster(s), we need designer(s), we need programmer(s), we need translator(s), we need tester(s). We need supporter(s) . We need ideas, we need criticism, we need FUN THEN PROFIT. I can do all those things alone, but wait, do we want to see 8BIT glory in 2029?

If it's your logo and you grant me permission for using it I will replace current logo with your one. Sure own one is better. In case of logo contest, I nominate and give you my +1 to make you coordinator of logo contest. Even if your proposal will be the only one, that's fine. I wanna see community saying: yes we want this logo.

Ladies and gents, get involved now, not later. It's gonna be an exciting ride.

OK, now let's focus on current tasks. We need online communication channel. Shall we use Slack or just IRC? Let me know. You have 24 hours since now to show your opinion here. After 24 hours I will count posts. It will be not permanent decision, it's just something we need ASAP to discuss background of incoming storm - hardfork (especially roadmap to convince exchanges to follow new version).

Yes, I was the old webmaster. Actually there were two, it was Starin and I.  Truth be told, I'm not sure I'm the right guy for handling a website, my web skills go no further beyond than wordpress.  I would be better utilized in the graphic/design department.

I think I would be willing to help out but only if I am in direct communication with you and the rest of the team.  Everyone on the team will have direct access to a Slack Channel that reports progress, vision and ideas.  Between the team, there will be no secrets and everyone will be a first name basis.  Now if anyone on the team wants to stay annonymous in the public eye, thats fine but never between the team.  You see I don't want to see anyone's time wasted.  Seriously, the previous Dev left a bad taste in everyone's mouth and we're all not convinced that your not the previous asshole DEV that abandoned us holding the bag.  I'm not going to let my time be wasted on a project that is being built up to be abandoned. 

That being said, I say let's go for it!  Let's recruit a couple guys, get a Slack room started and see what we can do to revitalize this crazy idea that we call 8BIT!
And as far as the logo image, your welcome to use it.

Well said! I agree with this.

[ShopemNL]

So you are that webmaster... I have asked one guy if he is webmaster but I got no reply. That's why I have started new website. I will be happy to hear you still wanna be our webmaster. We need social media ninja(s), we need webmaster(s), we need designer(s), we need programmer(s), we need translator(s), we need tester(s). We need supporter(s) . We need ideas, we need criticism, we need FUN THEN PROFIT. I can do all those things alone, but wait, do we want to see 8BIT glory in 2029?

If it's your logo and you grant me permission for using it I will replace current logo with your one. Sure own one is better. In case of logo contest, I nominate and give you my +1 to make you coordinator of logo contest. Even if your proposal will be the only one, that's fine. I wanna see community saying: yes we want this logo.

Ladies and gents, get involved now, not later. It's gonna be an exciting ride.

OK, now let's focus on current tasks. We need online communication channel. Shall we use Slack or just IRC? Let me know. You have 24 hours since now to show your opinion here. After 24 hours I will count posts. It will be not permanent decision, it's just something we need ASAP to discuss background of incoming storm - hardfork (especially roadmap to convince exchanges to follow new version).

Yes, I was the old webmaster. Actually there were two, it was Starin and I.  Truth be told, I'm not sure I'm the right guy for handling a website, my web skills go no further beyond than wordpress.  I would be better utilized in the graphic/design department.

I think I would be willing to help out but only if I am in direct communication with you and the rest of the team.  Everyone on the team will have direct access to a Slack Channel that reports progress, vision and ideas.  Between the team, there will be no secrets and everyone will be a first name basis.  Now if anyone on the team wants to stay annonymous in the public eye, thats fine but never between the team.  You see I don't want to see anyone's time wasted.  Seriously, the previous Dev left a bad taste in everyone's mouth and we're all not convinced that your not the previous asshole DEV that abandoned us holding the bag.  I'm not going to let my time be wasted on a project that is being built up to be abandoned. 

That being said, I say let's go for it!  Let's recruit a couple guys, get a Slack room started and see what we can do to revitalize this crazy idea that we call 8BIT!
And as far as the logo image, your welcome to use it.

Well said! I can do hosting, ssl if needed. Do some programming and webdesign if needed.

Totday i will put the 8bit node on the coinnode website.

[niki25]

I have created the slack: https://8bitteam.slack.com/
When everyone is in, we can structurate it into different channels.
Also i would like some members to be admins of slack, as i dont have the i would like to manage the slack.  

[8-bit-Party]

Yeah!

crypto_graphics Cool, so you will be our designer #1. I am waiting for your public statement allowing me to use your logo for 8BIT project. Let's fix what was wrong by doing everything transparently now.

ShopemNL great, thank you!

niki25, awesome, I am sending you PM with invitation request right now

I see SLACK channel will be our meeting place. C'mon IRC fans, there's still time to vote. Besides you can use IRC client to join SLACK channel.

[niki25]

Yeah!

crypto_graphics Cool, so you will be our designer #1. I am waiting for your public statement allowing me to use your logo for 8BIT project. Let's fix what was wrong by doing everything transparently now.

ShopemNL great, thank you!

niki25, awesome, I am sending you PM with invitation request right now

I see SLACK channel will be our meeting place. C'mon IRC fans, there's still time to vote. Besides you can use IRC client to join SLACK channel.

I dont have time to set up the heroku app for autoinvite, but if anyone has time to set it up, will be much faster than sending invites manually

[8-bit-Party]

I dont have time to set up the heroku app for autoinvite, but if anyone has time to set it up, will be much faster than sending invites manually

Additionally, I guess we should have at least 2-3 admins there.

Shall we try to count how big community we are?

[Gumbork]

I dont have time to set up the heroku app for autoinvite, but if anyone has time to set it up, will be much faster than sending invites manually

Additionally, I guess we should have at least 2-3 admins there.

Shall we try to count how big community we are?

Great. I think its time you start fixing the issues here. How about those masternode fixings?

[Fedoracoins]

i will give the reddit page to the devs

[8-bit-Party]

Great. I think its time you start fixing the issues here. How about those masternode fixings?

Masternodes work awesome, their number grows constantly, nothing to fix. I assume you mean fixing inflation by reducing masternode profits or increasing masternode entry level.
In that case I have made proof it's not big deal on our new github on freshly created alpha branch

https://github.com/8bit-dev/8bit/commit/60c1141682d6a09442e9668dbdd51e6335e97515

this commit sets up masternode cost to 888 8BIT, reduces hipos block value to 0.65 8BIT with 0.44 as masternode payment with hardfork at block 288888. So simple.
Those values are pretty random, just to show you how important right and widely agreed decision is required. We can't contact exchanges again after 2 weeks with YET ANOTHER MASTERNODES PAYMENTS RELATED hardfork. I have already suggested how such important values should be chosen in one of my previous posts. We have to change it with full confidence we are all happy with decision.

[Orestes]

Great. I think its time you start fixing the issues here. How about those masternode fixings?

Masternodes work awesome, their number grows constantly, nothing to fix. I assume you mean fixing inflation by reducing masternode profits or increasing masternode entry level.
In that case I have made proof it's not big deal on our new github on freshly created alpha branch

https://github.com/8bit-dev/8bit/commit/60c1141682d6a09442e9668dbdd51e6335e97515

this commit sets up masternode cost to 888 8BIT, reduces hipos block value to 0.65 8BIT with 0.44 as masternode payment with hardfork at block 288888. So simple.
Those values are pretty random, just to show you how important right and widely agreed decision is required. We can't contact exchanges again after 2 weeks with YET ANOTHER MASTERNODES PAYMENTS RELATED hardfork. I have already suggested how such important values should be chosen in one of my previous posts. We have to change it with full confidence we are all happy with decision.

imho pay-out is good as it is, 888 8BIT per mn would be cool though. Project pay-out should be considered along with project scope & lifecycle. The lower the pay-out the less time there is for early investors to build their position, and for the developer to deliver. Once investors are "leaving" the project will be like a desert walk. With leaving I do not mean the core followers, but the investors that provide the affluence with which developments will proceed more smoothly.

We need a bit of coin supply to grow the market as well!

To combat the "inflation" I refer to my earlier post:

But we have a fixed amount so lets say we increase with 1. Over a starting amount of one. Supply will increase in the following way.

1 | 2 | 3 | 4 | 5 | 6 | 7 | ... | ∞
 
increment then is

0 +1 +1 +1 +1 +1 +1 | ... | +1

0(0) + 1*(1) + 1/2*(2) + 1/3*(3) + 1/4*(4) + 1/5*(5) + 1/6*(6) + | ... | + 1/∞*(∞)

Final term: 1/∞=0

so you see in time, inflation is literally of no concern. Given enough time there will be a shortage of supply.

But I understand that right now it looks like inflation is killing. And it might even look like that for a whole year. But once there is enough wealth locked up in the coin, with a decent supply. Then inflation would be barely noticable yet remain profitable.

Now think about this one step further...

8Bit shows that it is probable that no more then 25% of all coins will be directed at MasterNodes. This ensures profitability for quite some time. But once there are a lot of nodes, lets say 25% of an ∞ supply. Then your reward will decrease to 0. Why? Too much (∞)competition.

Therefore there will come a point of equilibrium for the total amount of MasterNodes with respect to cost/return.
Fees for services then offer a solution. Because they are outside of theses restrictions. Its scalability is directly linked to market usage.

[8-bit-Party]

I agree that it's worth considering to promote buying own masternodes instead of limiting supply. Newcomers have to see and get their earnings.

I also agree that killing inflation is a myth a bit. At this moment we need rather sell walls to let whales buy cheap. I would rather say that masternode operators are pretty greedy that they don't send at least part of their earnings to market to let newcomers buy larger amounts at current price.

Sure we can say why they don't buy what is offered. ASKs are so small that buying larger amounts would move a rate to a moon without a non-speculative reason (new features, new adoptions etc.). It might sound weird for some, but I don't like P&D crap coins so do not expect I will support any market abuse. I love stable and STRONG growth.

I think we should focus on advertising masternodes to get the right balance between number of masternodes and coin supply. If number of masternodes will grow, inflation should not change to keep running masternode profitable. If number of masternodes will stay constant or decrease we should beat inflation to do not let small group accumalate too much without real effort. Morever, I have technical solution for it although it's not a time to disclose it. Yet.

However, do not look at me to see final decision. I am ignorant of economics so I might be completely wrong. I am here to support coin, not to predict price nor orderbooks show.

[skidog]

I agree that it's worth considering to promote buying own masternodes instead of limiting supply. Newcomers have to see and get their earnings.

I also agree that killing inflation is a myth a bit. At this moment we need rather sell walls to let whales buy cheap. I would rather say that masternode operators are pretty greedy that they don't send at least part of their earnings to market to let newcomers buy larger amounts at current price.

Sure we can say why they don't buy what is offered. ASKs are so small that buying larger amounts would move a rate to a moon without a non-speculative reason (new features, new adoptions etc.). It might sound weird for some, but I don't like P&D crap coins so do not expect I will support any market abuse. I love stable and STRONG growth.

I think we should focus on advertising masternodes to get the right balance between number of masternodes and coin supply. If number of masternodes will grow, inflation should not change to keep running masternode profitable. If number of masternodes will stay constant or decrease we should beat inflation to do not let small group accumalate too much without real effort. Morever, I have technical solution for it although it's not a time to disclose it. Yet.

However, do not look at me to see final decision. I am ignorant of economics so I might be completely wrong. I am here to support coin, not to predict price nor orderbooks show.

I can sell some....a little ...

[8-bit-Party]

last two weeks observation


http://www.8-bit.party/masternodes-chart.html

WE GROW

[Orestes]

I'm not saying killing inflation is a myth

I am saying that inflation itself is "the" myth,
a fixed rate interest will converge to 0%!  (relative to total supply)

here are some graphs/models to represent what i mean:

Supply increment. Increment/total supply converges, and in time will approximate 0%


Double S Curve. Projects and businesses can have many cycles. Imagine the legs and number of cycles 8Bit could have!


Hype curve, look what happens at every cycle... Now image what a linear supply growth could do instead of an exponential one. Every cycle inflation will get a bad reputation because of its exponential sibling. Inflation is not our problem, inflated expectations is.

[8-bit-Party]

OK, now let's focus on current tasks. We need online communication channel. Shall we use Slack or just IRC? Let me know. You have 24 hours since now to show your opinion here. After 24 hours I will count posts. It will be not permanent decision, it's just something we need ASAP to discuss background of incoming storm - hardfork (especially roadmap to convince exchanges to follow new version).

Timeout. I expected higher activity, but it's not most important thing here. We go SLACK - group is created and maintained by niki25. Contact him get an access. I am already there.

[niki25]

Although i think the inflation is a bit high at moment. I would like to expose the idea of an optional deflationary system.
There are examples as viral or gambit, which propose a burning system while offering a service (not that far, than what we have been talking here, services for masternodes).
That creates pressure into the market, and in the long haul, if the service gets a userbase, the growth should be steady and wealthy.
On the other hand if no users are attracted by the service, it will be useless

[Gumbork]

I think the masternodes should be more expensive, and that the dev should listen to the community and not only his ideas. The masternodes are paying out too much 8bit for how little they cost to operate. =/

[8-bit-Party]

I think the masternodes should be a bit more expensive, to increase demand. But we still have to attract smaller investors, so price should not be too high.

I agree.

and that the dev should listen to the community and not only his ideas.

I agree. Will (s)he listen to us?

The masternodes are paying out too much 8bit for how little they cost to operate. =/

That's more complex topic. Two weeks ago payout for single MN was 30% higher.  What's interesting, CRAVE inflation is very similiar to 8BIT one. They have a bit smaller reward with a bit shorter block time. So at the end of day amount of new coins is almost equal. And seems like this is not their problem. Best solution is to attract more investors and convince them to run own masternodes. Win-win. The only thing that makes me accepting reward reduction is thinking of 8BIT as very rare-coin it is now. So we might use reward reduction as a way to keep 8BIT being very rare coin. Now we have to consider, what's our real goal. Having very-rare-coin or having a bit less but still rare, more popular-coin. Not so easy to decide.

I had a little hope that masternode cost can be increased without hardfork. Nope. Different priced masternodes will treat each other as mibehaving peers thus they will refuse to talk. It will lead to random, harmful forks. It's also a bit more sophisticated to plan such change in future (in code), neither dash nor crave did it before so such simple action requires extra development. It's because masternode capability checking has no connection with block height and it has to be changed... I have just finished making this connection. So we can change price from certain block height and set a transition period (few hours - ~500 blocks?) within which both prices will be accepted.