[Network Repaired][ANN][BITS] BitSeeds - A Currency that Grows!

[morrisonsa]

The Rainforest Foundation is a very well established and very well respected charity.  The entire point of our process is ecosystem preservation.  That includes the markets as well as the planet.  It would be rather hypocritical to destroy one while supporting the other.

Altcoin speculator mining patterns are analogous to strip miners or fracking: extract as much wealth from a network as quickly as possible and it doesn't matter what happens afterwards.

Mining this coin has the potential to give back for the destruction their mining has caused.

Karma happens.

The kool-aid must come in extra extra large cups around there.  You guys are hilarious.

[vegasguy]

Just so you know, the ticker : BITS is already being used by a well established coin called Bitstar. Might be a very good idea to change it to something else now, while coin is still young.

Vegas

[BitSeedsFoundation]

Thank you for mentioning it.

Should this become a problem we shall work with exchanges to find a solution, not dissimilar to XBT vs BTC.  It's not without precedent.

[DeCrypterManiac]

Looks like the other pool went down, switches my rigs to bs.maxminers.net and the blocks are now found there... Diff dropped a lot too

[Targetbit]

total coin?

[CryptoCamel]

can anyone actually withdraw from maxminers? says need email confirmation to change account details yet no emails.. #redflag

[MaxMinersNet]

can anyone actually withdraw from maxminers? says need email confirmation to change account details yet no emails.. #redflag

Try again, we've disabled the confirmations - seems like some providers block our mails.

[garthkiser]

We were near block 1000 yesterday, and now near block 7000? The block explorer reflects the same numbers. At least the time warp was profitable, thanks to a rented 4TH miner.

 "version" : "v0.7.0.1-BITS",
    "protocolversion" : 60001,
    "walletversion" : 60000,
    "balance" : 5035.95338216,
    "newmint" : 0.00000000,
    "stake" : 0.00000000,
    "blocks" : 6954,
    "timeoffset" : -2,
    "moneysupply" : 100670801.31282648,
    "connections" : 9,
    "proxy" : "",
    "difficulty" : {
        "proof-of-work" : 14981126.69718770,
        "proof-of-stake" : 0.00024414
    },
    "testnet" : false,
    "keypoololdest" : 1429447509,
    "keypoolsize" : 100,
    "paytxfee" : 0.00050000,
    "mininput" : 0.00000000,
    "unlocked_until" : 0,
    "errors" : ""

[Litoshi]

The Rainforest Foundation is a very well established and very well respected charity.  The entire point of our process is ecosystem preservation.  That includes the markets as well as the planet.  It would be rather hypocritical to destroy one while supporting the other.

Altcoin speculator mining patterns are analogous to strip miners or fracking: extract as much wealth from a network as quickly as possible and it doesn't matter what happens afterwards.

Mining this coin has the potential to give back for the destruction their mining has caused.

Karma happens.

The kool-aid must come in extra extra large cups around there.  You guys are hilarious.

To translate the response to my latest post:

We are using the name of a well respected 30 year old charity to push a get rich scheme.  If you lose money on this, well....... its for charity. 

[CryptoCamel]

can anyone actually withdraw from maxminers? says need email confirmation to change account details yet no emails.. #redflag

Try again, we've disabled the confirmations - seems like some providers block our mails.

thanks!

[GabeBitSeeds]

The Rainforest Foundation is a very well established and very well respected charity.  The entire point of our process is ecosystem preservation.  That includes the markets as well as the planet.  It would be rather hypocritical to destroy one while supporting the other.

Altcoin speculator mining patterns are analogous to strip miners or fracking: extract as much wealth from a network as quickly as possible and it doesn't matter what happens afterwards.

Mining this coin has the potential to give back for the destruction their mining has caused.

Karma happens.

The kool-aid must come in extra extra large cups around there.  You guys are hilarious.

To translate the response to my latest post:

We are using the name of a well respected 30 year old charity to push a get rich scheme.  If you lose money on this, well....... its for charity. 

I don't own a single BitSeed. I have not mined even 1. So for you to say that I'm trying to just get rich, is unfair and ludicrous. You can keep thinking that we will sell the 100mil or dump the interest or anything else to justify your reasoning for not mining or joining the community. Listen I completely get it, I have been burned by many altcoins before. I know its very difficult to trust and get behind an altcoin idea, because not 1 has worked successfully yet. But our intentions are to build a long lasting coin built around the concept of benefiting our planet by a major tree planting initiative, and global awareness push. And let's just say we have a few things, we think the community will love, that we've kept secret cause we have a few events this week. Just stay on the forums a lot of your concerns might be laid to rest, by the news.

[Litoshi]

The Rainforest Foundation is a very well established and very well respected charity.  The entire point of our process is ecosystem preservation.  That includes the markets as well as the planet.  It would be rather hypocritical to destroy one while supporting the other.

Altcoin speculator mining patterns are analogous to strip miners or fracking: extract as much wealth from a network as quickly as possible and it doesn't matter what happens afterwards.

Mining this coin has the potential to give back for the destruction their mining has caused.

Karma happens.

The kool-aid must come in extra extra large cups around there.  You guys are hilarious.

To translate the response to my latest post:

We are using the name of a well respected 30 year old charity to push a get rich scheme.  If you lose money on this, well....... its for charity. 

I don't own a single BitSeed. I have not mined even 1. So for you to say that I'm trying to just get rich, is unfair and ludicrous. You can keep thinking that we will sell the 100mil or dump the interest or anything else to justify your reasoning for not mining or joining the community. Listen I completely get it, I have been burned by many altcoins before. I know its very difficult to trust and get behind an altcoin idea, because not 1 has worked successfully yet. But our intentions are to build a long lasting coin built around the concept of benefiting our planet by a major tree planting initiative, and global awareness push. And let's just say we have a few things, we think the community will love, that we've kept secret cause we have a few events this week. Just stay on the forums a lot of your concerns might be laid to rest, by the news.

You have no viable business model.

Here is your expense/income ledger:

Expense:
Develop coin
Promote coin
Server fee$

Income:
?


Potential income:
100 million coin dump once any exchange lists our coin

[GabeBitSeeds]

The Rainforest Foundation is a very well established and very well respected charity.  The entire point of our process is ecosystem preservation.  That includes the markets as well as the planet.  It would be rather hypocritical to destroy one while supporting the other.

Altcoin speculator mining patterns are analogous to strip miners or fracking: extract as much wealth from a network as quickly as possible and it doesn't matter what happens afterwards.

Mining this coin has the potential to give back for the destruction their mining has caused.

Karma happens.

The kool-aid must come in extra extra large cups around there.  You guys are hilarious.

To translate the response to my latest post:

We are using the name of a well respected 30 year old charity to push a get rich scheme.  If you lose money on this, well....... its for charity. 

I don't own a single BitSeed. I have not mined even 1. So for you to say that I'm trying to just get rich, is unfair and ludicrous. You can keep thinking that we will sell the 100mil or dump the interest or anything else to justify your reasoning for not mining or joining the community. Listen I completely get it, I have been burned by many altcoins before. I know its very difficult to trust and get behind an altcoin idea, because not 1 has worked successfully yet. But our intentions are to build a long lasting coin built around the concept of benefiting our planet by a major tree planting initiative, and global awareness push. And let's just say we have a few things, we think the community will love, that we've kept secret cause we have a few events this week. Just stay on the forums a lot of your concerns might be laid to rest, by the news.

You have no viable business model.

Here is your expense/income ledger:

Expense:
Develop coin
Promote coin
Server fee$

Income:
?


Potential income:
100 million coin dump once any exchange lists our coin

You can keep saying the same rhetoric about we will dump the 100mil. But like we've said numerous time already we CANNOT sell those. Rainforest Foundation will not sign off on that, neither would I, but you don't know me. Rainforest Foundation has a long standing reputation to uphold, not some ploy to take your money. But like I said before, you believe whatever you want to believe.

About our expenses and income ledger we will release that, when its time. We soft launched this coin early for the community. We weren't going to launch till Tuesday originally, but thought well let's give it to the community to mine and to hear their issues/ideas. All we've been doing this weekend has been compiling your thoughts, this week we will address many of them.

[Litoshi]

The Rainforest Foundation is a very well established and very well respected charity.  The entire point of our process is ecosystem preservation.  That includes the markets as well as the planet.  It would be rather hypocritical to destroy one while supporting the other.

Altcoin speculator mining patterns are analogous to strip miners or fracking: extract as much wealth from a network as quickly as possible and it doesn't matter what happens afterwards.

Mining this coin has the potential to give back for the destruction their mining has caused.

Karma happens.

The kool-aid must come in extra extra large cups around there.  You guys are hilarious.

To translate the response to my latest post:

We are using the name of a well respected 30 year old charity to push a get rich scheme.  If you lose money on this, well....... its for charity.  

I don't own a single BitSeed. I have not mined even 1. So for you to say that I'm trying to just get rich, is unfair and ludicrous. You can keep thinking that we will sell the 100mil or dump the interest or anything else to justify your reasoning for not mining or joining the community. Listen I completely get it, I have been burned by many altcoins before. I know its very difficult to trust and get behind an altcoin idea, because not 1 has worked successfully yet. But our intentions are to build a long lasting coin built around the concept of benefiting our planet by a major tree planting initiative, and global awareness push. And let's just say we have a few things, we think the community will love, that we've kept secret cause we have a few events this week. Just stay on the forums a lot of your concerns might be laid to rest, by the news.

You have no viable business model.

Here is your expense/income ledger:

Expense:
Develop coin
Promote coin
Server fee$

Income:
?


Potential income:
100 million coin dump once any exchange lists our coin

You can keep saying the same rhetoric about we will dump the 100mil. But like we've said numerous time already we CANNOT sell those. Rainforest Foundation will not sign off on that, neither would I, but you don't know me. Rainforest Foundation has a long standing reputation to uphold, not some ploy to take your money. But like I said before, you believe whatever you want to believe.

About our expenses and income ledger we will release that, when its time. We soft launched this coin early for the community. We weren't going to launch till Tuesday originally, but thought well let's give it to the community to mine and to hear their issues/ideas. All we've been doing this weekend has been compiling your thoughts, this week we will address many of them.

You really expect me to believe that you do not have access through a back door to a wallet that you coded?  

Also, you dont need 4 sigs to open it, just the private key for the wallet and you can gain access directly from the block chain.  

Dont believe me?  Post your private key to your BTC wallet here, or PM it to me.  I dont need the account number or your wallet password, just the private key.

[CryptoCamel]

sounds like some people have no idea how multi sig works sheesh

[BitSeedsFoundation]

As of last night 130 petahash appeared on the bitseeds network outside of the control of anyone involved with launching this network.

It is purposefully extracting proof of work coins at an accelerated rate.

This is not an attack.  

[ipominer]

As of last night 130 petahash appeared on the bitseeds network outside of the control of anyone involved with launching this network.

It is purposefully extracting proof of work coins at an accelerated rate.

This is not an attack.  

That seems impossible; I suspect there's a bug with your source of information. 130PH is nearly 40% of the Bitcoin hashrate.

If there were actually 130PH mining BitSeeds, you would see spikes in all SHA rental prices to many times current rates, hashrates on all SHA altcoins would have dropped significantly (including the newly launched Coven and Neutron), and Bitcoin's block finding rate would slow to a crawl.

[louiseth1]

Hmmmm. Skeptical aswell.

[ocminer]

As of last night 130 petahash appeared on the bitseeds network outside of the control of anyone involved with launching this network.

It is purposefully extracting proof of work coins at an accelerated rate.

This is not an attack.  

If your diff retarget would be working correctly even if someone throws 100000000 Petahashes to this coin - blocks would and should move with same speed as with 100 MH/s (or even 10 MH/s) as you (claim to) have implemented KGW.

It is NOT working like you put 10 MH/s on the coin and get 1 Block per Minute or you put 100 MH/s on the coin and get 10 Blocks per minute etc..

[morrisonsa]

The Rainforest Foundation is a very well established and very well respected charity.  The entire point of our process is ecosystem preservation.  That includes the markets as well as the planet.  It would be rather hypocritical to destroy one while supporting the other.

Altcoin speculator mining patterns are analogous to strip miners or fracking: extract as much wealth from a network as quickly as possible and it doesn't matter what happens afterwards.

Mining this coin has the potential to give back for the destruction their mining has caused.

Karma happens.

The kool-aid must come in extra extra large cups around there.  You guys are hilarious.

To translate the response to my latest post:

We are using the name of a well respected 30 year old charity to push a get rich scheme.  If you lose money on this, well....... its for charity. 

I don't own a single BitSeed. I have not mined even 1.

Finally, you've said something I can respect you for.  If this was my coin I wouldn't mine it either.


The only reason why (in my opinion) some of us are calling you out on the obvious items here, is because you've dragged a reputable ACTUAL charity into this.  I'm sure on paper, your claims of how much you can produce in revenue off of a 100,000,000 10% interest staking wallet seemed great to the Rainforest Foundation.  But you guys flat out lied to them, and are lying to yourselves about the good your doing.  You will actually do more harm to crypto's and the reputation of them within that community of Charities.

If you had just announced this, without being tied to the Rainforest Foundation, I would have NEVER have commented.  Never mined it, because the stats are bullshit.  There are plenty of shit ass suck coins that are launched every day that I never feel the slightest inkling to comment on.  Yours, I took exception to.

In fact, I've even emailed Suzanne and the foundation with the potential damage to their publicity and lack of professionalism you all have shown here.  And I'm not talking about the rhetoric going back and forth since you're getting slammed, but just the overall view of this launch.  Pretty website, but that's it.