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Author Topic: **MANDATORY UPGRADE REQUIRED** [ANN] B&C Exchange - All users must upgrade  (Read 165053 times)
BonTonPlease
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August 15, 2015, 11:59:27 AM
 #521

will Ethereum also be tradable on BCExchange?
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JordanLee
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August 15, 2015, 04:28:54 PM
 #522

will Ethereum also be tradable on BCExchange?

That is up to shareholders. If shareholders pass a motion or grant indicating Ether should be traded on B&C Exchange, then it will be. While I expect B&C Exchange will support a wide variety of blockchains quickly, the initial functional release will support the Nu, B&C and Bitcoin blockchains. Then we will iteratively add more according to the priorities set by shareholders. Based on the current interest in trading Ether, I would expect Ether trading to be one of the first few assets/blockchains to be added iteratively.

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August 16, 2015, 04:25:32 PM
 #523

Motion f8bcd3d068a6b35c92902a8d57e0e773e4e35352 has passed at block 58377, which occurred on August 16, 2015 UTC.

The motion text states:

Quote
This motion confirms BlockShareholders' desire to cease the sale of undistributed BKS. At 23:59 UTC on the 5th day after this motion passes no new buy offers will be accepted by B&C Exchange. For purposes of accounting, this time will be defined as the time a message is received by B&C Exchange, not when the message was sent. At 23:59 UTC on the 7th day after this motion passes all undistributed BKS that have not been requested for purchase will be burned. At 23:59 UTC on the 14th day after this motion passes all undistributed BKS will be burned, including those that had been reserved for purchase, but no payment was sent.

Accordingly, the sale of undistributed BlockShares held in our possession will stop soon. There are three important dates specified by the motion.

August 21, 2015 (23:59 UTC) - We will stop accepting offers to purchase BlockShares. For purposes of accounting, this time will be defined as the time a message is received by B&C Exchange, not when the message was sent. If you are planning on making a final purchase, please don't leave it until the last minute, as we will not extend this deadline for any reason. This date is five days after the motion passed.

August 23, 2015 (23:59 UTC) - Any BlockShares that have not been requested for purchase by August 21, 2015 will be burned. We will post details of the burn transaction publicly so that all shareholders can verify it was completed. This date is seven days after the motion passed.

August 30, 2015 (23:59 UTC) - Any BlockShares remaining that have not been paid for - including those that were requested for purchase but not paid for - will be burned. At this point, all undistributed BlockShares will have been destroyed as per the motion. This date is fourteen days after the motion passed.

We will provide regular updates on total fundraising as we approach these milestone dates.
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August 17, 2015, 09:05:58 PM
 #524

We've added an All Blocks page to our block explorer at https://bcblockexplorer.com/allBlocks/1. This page allows users to easily scroll back through the history of our blockchain.
BonTonPlease
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August 17, 2015, 11:32:00 PM
 #525

It's a little bit annoying that you can't scroll down faster. Would take a day to scroll down to the first blocks. Or am I wrong?

Edit: I know you can check the first block by typing it into the search bar, but you can't really scroll through the first blocks of the chain (if I didn't miss something)
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August 18, 2015, 12:09:46 AM
 #526

It's a little bit annoying that you can't scroll down faster. Would take a day to scroll down to the first blocks. Or am I wrong?

Edit: I know you can check the first block by typing it into the search bar, but you can't really scroll through the first blocks of the chain (if I didn't miss something)

Our current block explorer efforts are focused on adding core functionality as quickly as possible, including motions, voting, and charts. While it would certainly be nice to have an option to start the scrolling from block 1, it is a low priority feature for us at the moment. We are more concerned with making sure BlockShareholders quickly gain access to features that will help them with their decision making.
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August 18, 2015, 12:13:28 AM
 #527

Fundraising has now reached $255,283 US. As a result, all shares at $4.08 have now been sold. The current price of a BlockShare is $4.16. We have now sold 43,553.3325 BKS to second-round purchasers and the total distributed BKS across all groups is 168,483.8849 BKS. The main announcement has been updated with this new information.

As a reminder, these are the three important dates coming up that we will adhere to, as specified by motion f8bcd3d068a6b35c92902a8d57e0e773e4e35352.

August 21, 2015 (23:59 UTC) - We will stop accepting offers to purchase BlockShares. For purposes of accounting, this time will be defined as the time a message is received by B&C Exchange, not when the message was sent. If you are planning on making a final purchase, please don't leave it until the last minute, as we will not extend this deadline for any reason. This date is five days after the motion passed.

August 23, 2015 (23:59 UTC) - Any BlockShares that have not been requested for purchase by August 21, 2015 will be burned. We will post details of the burn transaction publicly so that all shareholders can verify it was completed. This date is seven days after the motion passed.

August 30, 2015 (23:59 UTC) - Any BlockShares remaining that have not been paid for - including those that were requested for purchase but not paid for - will be burned. At this point, all undistributed BlockShares will have been destroyed as per the motion. This date is fourteen days after the motion passed.
BonTonPlease
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August 18, 2015, 02:21:59 PM
 #528

Is it correct to assume that with this level of funding the development of CHECKLOCKTIMEVERIFY and and Android app has at least been secured? Also, JordanLee mentioned that (estimation) with another 10-20k dollars a specific type of escrow service could be developed by making certain changes to the protocol. That should also more or less be covered, shouldn't it?
I really hope that the recent boost in funding pays off for us instead of diluting all our shares without really getting something extra to the version that we were supposed to see with 200k funding.
For the future, I would really like to see an outline of a certain feature and the required funding for the development. Otherwise it might be tempting for those in charge of the funds to talk down the raised amount of money and overemphasize the required development efforts.
Looking forward to see as many additional features as possible for the extra 50k raised.

Cheers,
BTP
JordanLee
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August 18, 2015, 08:47:34 PM
 #529

Is it correct to assume that with this level of funding the development of CHECKLOCKTIMEVERIFY and and Android app has at least been secured? Also, JordanLee mentioned that (estimation) with another 10-20k dollars a specific type of escrow service could be developed by making certain changes to the protocol. That should also more or less be covered, shouldn't it?
I really hope that the recent boost in funding pays off for us instead of diluting all our shares without really getting something extra to the version that we were supposed to see with 200k funding.
For the future, I would really like to see an outline of a certain feature and the required funding for the development. Otherwise it might be tempting for those in charge of the funds to talk down the raised amount of money and overemphasize the required development efforts.
Looking forward to see as many additional features as possible for the extra 50k raised.

Cheers,
BTP

It will be months before those projects can be started. That means the situation might shift some between now and then. For instance, a better and more urgent use of the funds may emerge. For these reasons I'm not sure it is optimal to commit funds to it now. I do think they ought to be the top priorities (CHECKLOCKTIMEVERIFY and the Android app, with the escrow framework as a third priority).

When it does become time to decide whether to commit to an Android app, it makes the most sense to pass a motion to transfer a specific quantity of NuBits raised to the developer that commits to developing it, such as Giannis or Cybnate. There isn't much reason for me to be directly involved in that because it doesn't pertain to the core client software.

So, shareholders can decide whatever they want to about how funds raised are allocated and spent. As always, I will be very responsive to motions. But it is probably premature to commit to specific features many months before development begins.

Reputation voting has been implemented. You can see screenshots of the user interface for it here. Once the reputation reward is done (currently in progress), the other new voting types are complete (also in progress) and Bitcoin dividends are supported we will push a release to test net. It probably makes sense to push this release to production so that reputed signers can get established before the exchange is operational.




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BCExchange
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August 20, 2015, 05:09:22 AM
 #530

Fundraising has now reached $297,433 US.

The current price of a BlockShare is $4.16.

As a reminder, these are the three important dates coming up that we will adhere to, as specified by motion f8bcd3d068a6b35c92902a8d57e0e773e4e35352.

August 21, 2015 (23:59 UTC) - We will stop accepting offers to purchase BlockShares. For purposes of accounting, this time will be defined as the time a message is received by B&C Exchange, not when the message was sent. If you are planning on making a final purchase, please don't leave it until the last minute, as we will not extend this deadline for any reason. This date is five days after the motion passed.

August 23, 2015 (23:59 UTC) - Any BlockShares that have not been requested for purchase by August 21, 2015 will be burned. We will post details of the burn transaction publicly so that all shareholders can verify it was completed. This date is seven days after the motion passed.

August 30, 2015 (23:59 UTC) - Any BlockShares remaining that have not been paid for - including those that were requested for purchase but not paid for - will be burned. At this point, all undistributed BlockShares will have been destroyed as per the motion. This date is fourteen days after the motion passed.
masterOfDisaster
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August 21, 2015, 10:25:43 AM
 #531

Wouldn't it be nice to find the design paper on https://bcexchange.org/?
Currently there's only a link to it in the announcement here on bitcointalk to https://nubits.com/sites/default/files/assets/Blocks%20%26%20Chains%20Decentralized%20Exchange.pdf
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August 21, 2015, 04:30:28 PM
 #532

Wouldn't it be nice to find the design paper on https://bcexchange.org/?
Currently there's only a link to it in the announcement here on bitcointalk to https://nubits.com/sites/default/files/assets/Blocks%20%26%20Chains%20Decentralized%20Exchange.pdf

We'll look at incorporating it onto the site. Note that there is a link to the design document in the Source Code link on https://bcexchange.org too.
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August 21, 2015, 04:31:32 PM
 #533

Fundraising has now reached $303,050 US.

The current price of a BlockShare is $4.16.

The sale of undistributed BlockShares will stop at 23:59 UTC today as specified by motion f8bcd3d068a6b35c92902a8d57e0e773e4e35352. There are currently a little over seven hours remaining.
masterOfDisaster
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August 21, 2015, 04:45:21 PM
 #534

[...]Note that there is a link to the design document in the Source Code link on https://bcexchange.org too.

People might expect to find the design document (linked) on the official website. I was looking there for it as well and wondered where to find it.
A button with the link next to "source code" to it would be better than not knowing where to find it on the website.
Would someone expect to find the link to the design document in the source code?
I don't know...

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August 21, 2015, 06:57:43 PM
 #535

Our B&C Block Explorer now has two new features: Motions and Voting!

Motions (https://bcblockexplorer.com/motions) shows the status of any shareholder motion on the network, along with the current support. A motion requires a vote in 5001 of the previous 10000 blocks to pass. By clicking "Successful Motions" you can see an example of successful motion f8bcd3d068a6b35c92902a8d57e0e773e4e35352, which specifies that BlockShare sales end at 23:59 UTC on August 21, 2015. When the B&C Forum is eventually running users will be able to search for a specific motion by motion hash.

Voting (https://bcblockexplorer.com/custodians) shows the status of any custodial grants on the network, along with the current support. For example, it appears that a small shareholder cast a test vote for BlockCredit address "CfMpuMotZeDPtiYpgB4y4NxBScJMYmjBe6" for 1 BKC but only received 6 votes in the past 10000 blocks. We recommend not filling up the blockchain with meaningless votes, although every shareholder is able to vote as they desire. As with motions, a successful custodial grant requires a vote in 5001 of the previous 10000 blocks to pass.
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August 22, 2015, 01:07:42 AM
 #536

Also, the team is currently debating how to structure our forum. While we're waiting for an official B&C forum to be launched, if any motions need to be posted, the team created this temporary board for B&C on the Nu forum...

https://discuss.nubits.com/c/b-c-exchange

Try and keep the conversation in this thread though, since keeping this thread bumped and on the first page is important for awareness.
masterOfDisaster
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August 22, 2015, 09:23:26 AM
 #537

Time to update the initial post - no BKS left for sale Wink

[...]as specified by motion f8bcd3d068a6b35c92902a8d57e0e773e4e35352.[...]

BonTonPlease
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August 22, 2015, 04:01:50 PM
 #538

We should definitely keep this thread updated as many people new to cryptocurrency will scroll through Bitcointalk first.
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August 22, 2015, 04:37:22 PM
 #539

Time to update the initial post - no BKS left for sale Wink
[...]as specified by motion f8bcd3d068a6b35c92902a8d57e0e773e4e35352.[...]

The original announcement has been updated. We will continue to update the BKS distribution table in the coming days, as the last BlockShare purchase requests are finalized. BlockShares are no longer available for purchase from us as of 23:59 UTC August 21, 2015.
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August 22, 2015, 06:53:13 PM
 #540

The new BlockShares fundraising total is $309,995. We are no longer accepting requests to purchase BlockShares, but still expect the fundraising total to change as we finalize the remaining purchase requests.

Motion f8bcd3d068a6b35c92902a8d57e0e773e4e35352 states that all undistributed BlockShares must be burned by 23:59 UTC August 30, 2015. We would like to request that all payments be made by August 28, 2015 to ensure that records can be reviewed and the burn completed before the 31st. If this will be a problem for a purchaser due to a lack of access to their funds until August 29 or August 30, please send us an email and BitMessage to work out alternative arrangements.

We would also like to remind people who purchased shares before the blockchain was created, but who haven't sent us BKS addresses to send them to, to please do so as soon as possible. There are a number of people in this position. We will hold onto their shares for an extended period in the hopes that we will have an opportunity to send them eventually. We will be following up with each of these users individually as well.
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