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

[lcmines]

Woah. I'm staking my coins with a fraction of one coin available to spend and the rest locked staking with expected time to reward 16,929 days(!). 

Never seen an expected time anywhere close to that high a number. Sure hope that doesn't mean my coins will be unspendable that entire time...

Speaking of staking, would love to be able to do so without running a second OS in a VM. Any ETA on the promised Mac client? 

Also, I'm considering recording video tutorials on Bitseeds and doing a giveaway to help continue educating my newsletter's 25,000+ subscribers about cryptocurrency.  I can't do that until there's a wallet application for both Windows and Mac.

The reward days doesn't seem to make sense for you. Does anyone else have this problem? I know other people staking with no issues, they are staking 11,000 and it says 8 days for reward.

Now that the blockchain is fixed we have reached out to someone I'm sure you all know to make the Mac wallet. That should be done very soon.

We did reach out to Bittrex to update the wallets and that should be happening soon.

The giveaway idea is awesome and I'm sure Rainforest Foundation will match the amount given away so more people can get BitSeeds. Please PM me I would love to speak with you about this further.

Well, I don't know what happened but I staked all of yesterday then started again 2-3 hours ago and the days to reward jumped up to over 40,000 (!) then dropped to 30K, then jumped around 13-16K but just now it's dropped down to 1 hour and most of my coins are available again.

Really weird, but I guess I won't have to wait decades anymore before having access to them. That's good! Heh.

I'm guessing the Mac wallet will be done by Julian, which is great if so since he signs his builds as an Apple developer, which means Macs with newer versions of OS X are able to run them without changing their security settings. The main focus of my teaching is to help people who are more tech challenged, so the less complication the better. 

I just PMed you. 

I think the wallet is behaving normal and what you were seeing was most of your coins actively Staking (not spendable) while just a tiny amount of a single coin was left Spendable thus making your POS-Weight very very Very small compared to the Weight of the network. Only spendable coins can have a Weight against the network and once your staking balance reached maturity they were placed back into your Spendable and your Weight was then including them once again.

[AtlasONo]

Here's a question.  There is a company with a coincidentally similar named product (Bitseed instead of Bitseeds) and what they make is a low power plug and play hardware node for Bitcoin - but according to this page their new v2 product will be customizable for altcoins:

https://bitseed.org/product/pre-order-bitseed-v2/

 

Their product is just an off the shelf micro computer stuffed in a case with a hdd that has ubuntu and bitcoin installed on it. The mark up is around 100%. You could built it yourself fairly easily.

Here's a start https://bitcoin.org/en/full-node#ubuntu-1410

[bitseedmike]

Here's a question.  There is a company with a coincidentally similar named product (Bitseed instead of Bitseeds) and what they make is a low power plug and play hardware node for Bitcoin - but according to this page their new v2 product will be customizable for altcoins:

https://bitseed.org/product/pre-order-bitseed-v2/

I think the project is very cool and am planning to get a Bitcoin node at some point from them, but I'm especially interested in the potential for supporting smaller networks like Bitseeds with hardware nodes like this. The one thing I'm wondering is would this act to stake coins on a POS network like this?  That would be kinda cool.

Yes, the node can run POS coins, and is ideal for running full nodes for these types of altcoins. We have run Crypti, NXT, Skycoin, and Peercoin on the unit during development.

In response to the comment on the mark-up, it is actually 42% over BOM, not 100%. For someone who makes less then $20 per hour, it might make more financial sense to source and purchase the parts, build the unit, and load the software. We will be posting the CAD files and parts list for those who want to do this, since it encourages development and we are committed to the open source philosophy.

The similarity in names and logos of Bitseed and Bitseeds is coincidental, though Bitseed was used in commerce first. Bitseeds (the coin) has filed an application for registering a trademark, "Bitseeds", http://tmsearch.uspto.gov/bin/showfield?f=doc&state=4808:mm2dq7.2.1 , so this will need to be resolved since we were already shipping units and demoing at Bitcoin meetups well before the filing date on April 3, 2015. We didn't file earlier since we're adverse to IP.

[GabeBitSeeds]

Here's a question.  There is a company with a coincidentally similar named product (Bitseed instead of Bitseeds) and what they make is a low power plug and play hardware node for Bitcoin - but according to this page their new v2 product will be customizable for altcoins:

https://bitseed.org/product/pre-order-bitseed-v2/

I think the project is very cool and am planning to get a Bitcoin node at some point from them, but I'm especially interested in the potential for supporting smaller networks like Bitseeds with hardware nodes like this. The one thing I'm wondering is would this act to stake coins on a POS network like this?  That would be kinda cool.

Yes, the node can run POS coins, and is ideal for running full nodes for these types of altcoins. We have run Crypti, NXT, Skycoin, and Peercoin on the unit during development.

In response to the comment on the mark-up, it is actually 42% over BOM, not 100%. For someone who makes less then $20 per hour, it might make more financial sense to source and purchase the parts, build the unit, and load the software. We will be posting the CAD files and parts list for those who want to do this, since it encourages development and we are committed to the open source philosophy.

The similarity in names and logos of Bitseed and Bitseeds is coincidental, though Bitseed was used in commerce first. Bitseeds (the coin) has filed an application for registering a trademark, "Bitseeds", http://tmsearch.uspto.gov/bin/showfield?f=doc&state=4808:mm2dq7.2.1 , so this will need to be resolved since we were already shipping units and demoing at Bitcoin meetups well before the filing date on April 3, 2015. We didn't file earlier since we're adverse to IP.

Yes the name choice and logo similarities (leaves are commonly used for the word seed) are definitely coincidental. We did file for TM last month, but this was not in response to Bitseed. We are completely for what you are doing and will not be entering into any TM war with you guys unless that is your plan. We did it for copycats who might try to use the name and Rainforest Foundations standing to con/scam people. I believe both parties are doing a different enough thing in the crypto world to not be mistaken too much. I would also (if we don't enter into a TM war) would like to use Bitseed for BitSeeds, I'm not and neither are a lot of my friends, technical enough to build nodes. Hope all is well with Bitseed, and good job on the name choice, I really like it! =)

[bitseedmike]

I'd rather not do a trademark war, since I consider legal proceedings to be a gross waste of time and money. We'll need to file an application to make sure are both accepted and to protect interests, see if the USPTO allows both to coexist in the space.

[GabeBitSeeds]

I think the only way 2 companies can use the same trademark is with a TM Coexistence Agreement. I will speak with my lawyers about the process of this agreement. I'm not sure you can also own the trademark. If you want to contact the USPTO and see if they will also grant you a TM also that's up to you. I can just let you know that we will not be pursuing you not to use it as I completely agree with you about legal proceedings being a waste of money and time. Also like I said before I think both companies are far enough in the same space to not cause confusion.

[lcmines]

Can anyone share insight as to why Bittrex is taking so long with the new wallet implementation?

[zing96]

Can anyone share insight as to why Bittrex is taking so long with the new wallet implementation?

Was just about to ask the same thing.  Market has been down for what seems like forever.

[GabeBitSeeds]

We have reached out to Bittrex, and will keep you posted when they reply.

[worth]

Their product is just an off the shelf micro computer stuffed in a case with a hdd that has ubuntu and bitcoin installed on it. The mark up is around 100%. You could built it yourself fairly easily.

Here's a start https://bitcoin.org/en/full-node#ubuntu-1410

Thanks. I'm happy to put something like this together for fun and self-education, and will at some point.

But I'm always thinking more in terms of people like my own students and the general public who need an off the shelf plug and play option.  I'm also thinking in terms of Bitseeds specifically, which through the Rainforest Foundation has huge potential to reach a mass audience, most of whom will only be interested if it's dead simple. And people would tend to be buying on the benefit of supporting the Foundation and the goal of reforestation, not the price that much.

Yes, the node can run POS coins, and is ideal for running full nodes for these types of altcoins. We have run Crypti, NXT, Skycoin, and Peercoin on the unit during development.

OK, so then you have the potential for a preconfigured, Rainforest Foundation branded device that could be sold to Foundation supporters on the basis of owning a low-power device that you plug in and forget as it helps support the network and the reforestation mission.  Neat.

[bitseedmike]

Yes, the units in the field are proving to be very reliable. We'd like to see a lot of alt coins running on them as well.

[bitseedmike]

Does anyone know the RAM requirements of Bitseeds off hand?

[garthkiser]

Does anyone know the RAM requirements of Bitseeds off hand?

I'm running bitseedsd on a VPS from DigitalOcean, and it is staking. Here's a screenshot of the results of running the "top" command: http://imgur.com/FGnnAKU

[bitseedmike]

looks good, about 100K RAM for the bitseedsd process plus 240K cached. We have 1 GB on board plus 4 GB flash along with the 160 Gb SATA HDD.

[lcmines]

Still no wallet on Bittrex. What went wrong?

[kondiomir]

The entire project i wrong... IMHO.. 

[garthkiser]

In the right hands, a "pre-mine" can be a powerful tool for ensuring long-term growth.

The BitSeeds Foundation should adjust their amount of staking coins according to fluctuations in market prices.

The ability of the average user to stake at least a block or two each week helps to create a very strong network, and a loyal community over time.

Such a move would be in the best interest of everyone, including the Foundation.

[morrisonsa]

The BitSeeds Custody Address
---------------------------

The custody amount of 100,000,000 BITS was generated in Block 1 and shall be staked for seven days to form a core of funds to kickstart the BitSeeds Foundation.  The custody amount is to be held in a 3-of-4 multisig wallet (BhHpy32LSFgpqNp8ZUpq1dvyJYkuG83JTW) generated with the following public keys:

> **Gabe Aronovich**
> 02f79cdcc8dde477bd4547fda9bc4405081067da7e631dcfb01fce0bc5e0b0402a

> **Coin.co**
> 0314b1e751d0ae6d51805820ea5f64b9fc879454341e259d9b1a919e4710e9ede7

> **Rainforest Foundation**
> 028b9da0d90bc9919648dc95dc07e4c8ac18512277acf6d9620bd24264de8920eb

> **Bryce Weiner**
> 02567e06ff807804a16f189e43f3da8b6647bb0ad1a616386b0aa3e27363a2bdb6

The custody amound shall not be spent, but shall be staked no more frequently than a quaterly basis after the initial seven days following launch.  Interest generated will be directly reinvested into development of the BitSeeds ecosystem by incentivizing participants and vendors to accept BitSeeds for the automatic charitable tax deduction (see below).  The interest paid on the first seven days shall be held and staked by the BitSeeds Foundation as a means of thanking donors for supporting our mission and that of the Rainforest Foundation.

Love how none of this is true.... The custody wallet sent out 6 million bitseeds to a few addresses, dropping it below the 100,000,000,000 custody amount.  Also they have been staking the wallet the entire time and not for only 7 days once per quarter. 

[solid12345]

The BitSeeds Custody Address
---------------------------

The custody amount of 100,000,000 BITS was generated in Block 1 and shall be staked for seven days to form a core of funds to kickstart the BitSeeds Foundation.  The custody amount is to be held in a 3-of-4 multisig wallet (BhHpy32LSFgpqNp8ZUpq1dvyJYkuG83JTW) generated with the following public keys:

> **Gabe Aronovich**
> 02f79cdcc8dde477bd4547fda9bc4405081067da7e631dcfb01fce0bc5e0b0402a

> **Coin.co**
> 0314b1e751d0ae6d51805820ea5f64b9fc879454341e259d9b1a919e4710e9ede7

> **Rainforest Foundation**
> 028b9da0d90bc9919648dc95dc07e4c8ac18512277acf6d9620bd24264de8920eb

> **Bryce Weiner**
> 02567e06ff807804a16f189e43f3da8b6647bb0ad1a616386b0aa3e27363a2bdb6

The custody amound shall not be spent, but shall be staked no more frequently than a quaterly basis after the initial seven days following launch.  Interest generated will be directly reinvested into development of the BitSeeds ecosystem by incentivizing participants and vendors to accept BitSeeds for the automatic charitable tax deduction (see below).  The interest paid on the first seven days shall be held and staked by the BitSeeds Foundation as a means of thanking donors for supporting our mission and that of the Rainforest Foundation.

Love how none of this is true.... The custody wallet sent out 6 million bitseeds to a few addresses, dropping it below the 100,000,000,000 custody amount.  Also they have been staking the wallet the entire time and not for only 7 days once per quarter.  

I would assume anything that was "planned" from the beginning was derailed by the network attack, the massive amount of coins have to be staked now to maintain security of the network.

Anyway people here are paranoid, if you think it's a scam why not contact the Rainforest Foundation yourself? I don't get why people around here trust newbie accounts to do the right thing more than a 30 year charity with public faces and addresses, go ahead, contact them.

[GabeBitSeeds]

The BitSeeds Custody Address
---------------------------

The custody amount of 100,000,000 BITS was generated in Block 1 and shall be staked for seven days to form a core of funds to kickstart the BitSeeds Foundation.  The custody amount is to be held in a 3-of-4 multisig wallet (BhHpy32LSFgpqNp8ZUpq1dvyJYkuG83JTW) generated with the following public keys:

> **Gabe Aronovich**
> 02f79cdcc8dde477bd4547fda9bc4405081067da7e631dcfb01fce0bc5e0b0402a

> **Coin.co**
> 0314b1e751d0ae6d51805820ea5f64b9fc879454341e259d9b1a919e4710e9ede7

> **Rainforest Foundation**
> 028b9da0d90bc9919648dc95dc07e4c8ac18512277acf6d9620bd24264de8920eb

> **Bryce Weiner**
> 02567e06ff807804a16f189e43f3da8b6647bb0ad1a616386b0aa3e27363a2bdb6

The custody amound shall not be spent, but shall be staked no more frequently than a quaterly basis after the initial seven days following launch.  Interest generated will be directly reinvested into development of the BitSeeds ecosystem by incentivizing participants and vendors to accept BitSeeds for the automatic charitable tax deduction (see below).  The interest paid on the first seven days shall be held and staked by the BitSeeds Foundation as a means of thanking donors for supporting our mission and that of the Rainforest Foundation.

Love how none of this is true.... The custody wallet sent out 6 million bitseeds to a few addresses, dropping it below the 100,000,000,000 custody amount.  Also they have been staking the wallet the entire time and not for only 7 days once per quarter. 

No your statement is not true. We have not been staking the entire time. We just started staking after we had the issues with the blockchain. The amount you see that left the wallet around 6mil went into staking wallets and will return to the original wallets days from now. We cannot stake them in the multi sig wallet, but are working on creating that feature.