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

[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. 

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.

Maybe I'm stupid, but http://explorer.bitseeds.org:3001/block/b329219bada5fb0f6ec96376713937e6904a313b007d4e7e0637c4bcc4ce749a sure does look like your foundation wallet is staking......and always has been.  But I'm pretty sure you guys are just so full of it that it is fucking funny.


BITS txid: 75222ba774ea366bb6339f0aa97277e57ee70380a3a275a0775eb1239f7c55c3
Confirmations   Block Hash   Timestamp   
9   b329219bada5fb0f6ec96376713937e6904a313b007d4e7e0637c4bcc4ce749a   11th May 2015 09:29:20   
Input Addresses
Address
BITS txid: 75222ba774ea366bb6339f0aa97277e57ee70380a3a275a0775eb1239f7c55c3
Confirmations   Block Hash   Timestamp   
9   b329219bada5fb0f6ec96376713937e6904a313b007d4e7e0637c4bcc4ce749a   11th May 2015 09:29:20   
Input Addresses
Address
PoS
Recipients
Address   Amount (BITS)
bUfeq4Dnw7z8ahAivsFhGDzhLQDa5nqGmG   254.46742719
Recipients
Address   Amount (BITS)
bUfeq4Dnw7z8ahAivsFhGDzhLQDa5nqGmG   254.46742719

[morrisonsa]

Hope you guys realize that in most states deceptive solicitation of charitable funds by a Non-Profit is a misdemeanor.  Which pretty much is your entire coin. 

[GabeBitSeeds]

Hope you guys realize that in most states deceptive solicitation of charitable funds by a Non-Profit is a misdemeanor.  Which pretty much is your entire coin. 

Wow man, you must have some insane trust issues. If you still think we're trying to deceive you after the numerous replies to all of your concerns, then there isn't anything else we can say to appease you. Like I've been saying before you don't like this type of coin or you just think we're such bad people. Either way thanks for you replies, and enjoy the other altcoins that exist. Have a nice day.

[GabeBitSeeds]

Maybe I'm stupid, but http://explorer.bitseeds.org:3001/block/b329219bada5fb0f6ec96376713937e6904a313b007d4e7e0637c4bcc4ce749a sure does look like your foundation wallet is staking......and always has been.  But I'm pretty sure you guys are just so full of it that it is fucking funny.

You said it not me. Again this wallet has not been staking the entire time and if you followed the thread or the coin you'd know that after the blockchain issue staking did NOT work. It was not possible for anyone to stake. We started staking the coins after we fixed the blockchain issue. It is all in the blockchain look for yourself. Please stop saying erroneous things with such conviction.

[GabeBitSeeds]

Just want to confirm that the Rainforest Foundation wallet actually has 96mil+ coins in it. We were informed by the dev of the explorer that there is a bug with the explorer which is reporting incorrect coin totals for wallets. That is being updated shortly. We moved 4mil coins (2mil each) into other wallets for staking purposes and will label them in the explorer for everyone to see.

Mac wallets are being finalized soon and we will post download links as soon as we get them. I am also super excited and been waiting on this myself since I am a Mac user.

[lcmines]

Was there by chance any word from Bittrex about the wallet?

[morrisonsa]

http://explorer.bitseeds.org:3001/tx/168b6e6e0cbbb4509c918f1065e2d918c961111ab3c7ec74fe816d4e520f1a8a


So you are saying this transaction never took place?  Where the foundation additionally sent 1 million to two additional addresses.

And if the Foundation wallet is staking, which it is, then why aren't the other wallets staking, those funds were sent on May 4th?  And if the Foundation wallet is staking, those funds should be sent back.

If you don't like people calling out your shady doings, then you shouldn't use the facade of a charitable organization. 

[solid12345]

http://explorer.bitseeds.org:3001/tx/168b6e6e0cbbb4509c918f1065e2d918c961111ab3c7ec74fe816d4e520f1a8a


So you are saying this transaction never took place?  Where the foundation additionally sent 1 million to two additional addresses.

And if the Foundation wallet is staking, which it is, then why aren't the other wallets staking, those funds were sent on May 4th?  And if the Foundation wallet is staking, those funds should be sent back.

If you don't like people calling out your shady doings, then you shouldn't use the facade of a charitable organization.  

Dude are you not aware the whole network was attacked requiring a total switch to a POS? Any promises about staking only a few days every quarter are null and void now because the situation has changed completely. They now HAVE to be staked 24/7 to prevent another potential 51% attack.

And also these coins are pretty much useless right now without an open bittrex wallet or any buy support? What kind of scam do you think they are trying to pull exactly?

First people bitched about the 100 million premine, now you are paranoid over a few thousand coins made staking which are worth a couple of dollars at most? LOL

[GabeBitSeeds]

Bittrex is online and with a brand new look. I like it, way to go guys.

[solid12345]

Bittrex is online and with a brand new look. I like it, way to go guys.

Finally, great news. Anything in the pipeline coming to bring the interest back after these nightmare few weeks?

[GabeBitSeeds]

Bittrex is online and with a brand new look. I like it, way to go guys.

Finally, great news. Anything in the pipeline coming to bring the interest back after these nightmare few weeks?

Absolutely. We have a bunch of stuff lined up that we'll start releasing in the coming days. We were just waiting for everything to finalize and settle down.

[InceptionCoin]

Guys i checked your blockchain. Looks like almost all blocks generated by BitSeed foundation addresses. The reason why nobody else staking is very big difficulty: you are staking with 2m of coins and nobody else(with for example 2-3k of coins) couldn't meet the difficulty requirement. So to sanitize the network you should smoothly decrease difficulty, for example: create a sequence of wallets with 2m, 1m, 500k, 250k, 100k and so on and step by step switch off one wallet and switch on next one.

[AtlasONo]

They now HAVE to be staked 24/7 to prevent another potential 51% attack.

How convenient

[garthkiser]

They now HAVE to be staked 24/7 to prevent another potential 51% attack.

How convenient

Then the fair solution would be for the Foundation to send most the staked coins to a burn address.

[lcmines]

They now HAVE to be staked 24/7 to prevent another potential 51% attack.

How convenient

Then the fair solution would be for the Foundation to send most the staked coins to a burn address.

To make this initiative possible, each year BitSeeds will yield 10% interest to each person who holds the currency. At the launch of the currency, 100 million BitSeeds will be set aside in a special multisig wallet that will generate interest for the Rainforest Foundation. The yearly interest income the Rainforest Foundation receives will enable them to help local communities conserve and restore forests on a scale never before possible.

The purpose behind the project is to generate a lot of coins for the Rainforest Foundation. Burning the coins created does not make sense, nor does dumping them on a market. So I would not anticipate either.

[jasemoney]

so 3 million are in the hands of people aside form the developers/foundation. this is put up against 4 million of developers/foundation staking or against 100 million staking.

the general population needs to pitch in and stake while the devs reduce their staking to normalize the network.

[worth]

so 3 million are in the hands of people aside form the developers/foundation. this is put up against 4 million of developers/foundation staking or against 100 million staking.

the general population needs to pitch in and stake while the devs reduce their staking to normalize the network.

I've got a good chunk of the existing coins, have been staking every day, am right now, and I'll continue to.  

[garthkiser]

I've got a good chunk of the existing coins, have been staking every day, am right now, and I'll continue to.  

My experience with just over 15k coins is that they can't pay for the $5/month VPS charge. This has been running since the client release and hasn't staked.

Code:

 "version" : "v1.1.0.0-g",
    "protocolversion" : 70003,
    "walletversion" : 60000,
    "balance" : 15510.96910135,
    "newmint" : 0.00000000,
    "stake" : 0.00000000,
    "blocks" : 1301,
    "timeoffset" : 0,
    "moneysupply" : 103210565.78836463,
    "connections" : 9,

-edit: It appears that the Foundation's coins were not staking for a short time, during which this wallet staked 8 blocks. Here's one of them: http://explorer.bitseeds.org:3001/tx/933a231626d5209eab9c5814ecd48a1c6f15e55d95bb159570c158761d17ad08

And now we're back to business as usual, with:

Code:

"netstakeweight" : 3134554734419970

That's 31 million coins and some change staking on the network again.

-edit #2 - May 25: This wallet has staked 71 BitSeeds. It is split into ten outputs of of 1000 each.

[GabeBitSeeds]

Mac wallet is up. Here is the link its also on our site.

http://sourceforge.net/projects/bitseedsofficialrepository/files/

[worth]

Mac wallet is up. Here is the link its also on our site.

http://sourceforge.net/projects/bitseedsofficialrepository/files/

Awesome. It's nice to be able to stake without booting a VM. My iMac is running cooler already.

Checking Bittrex's status page, it looks like their Bitseeds wallet is finally working, too.