Britcoin 2.0 Under New Management: Cryptocurrency For The Masses

[VanityWallets2015]

When I mentioned legal position, any government, or authority can apply legislation in retrospect to the detriment of, or the governance of a sector.

Ah, in your model HMG can retrospectively decree that some selectively-determined prior trades in Britcoin were illegal. We have quite different understandings of the issue. I take a substantial part of mine from http://researchbriefings.files.parliament.uk/documents/SN06454/SN06454.pdf

Cheers

Graham

Thanks Graham, interesting read.

I do think, however, that Parliament or the FSA will draw up clear guidelines or implement legislation for blockchains in the future which would apply in retrospect, for example for a blockchain/currency to be listed on the equivalent of the currency exchanges, or to be compatible with the BoE, that there would for example need to me a maximum of 1 fork every 3 years, there has been no or limited premine, etc etc. So what I am suggesting is that many of the currencies out there today will be disgarded because they have not respected the blockchain or consensus. So by applying legislative regulations in this case it can serve in retrospect, and thats because the blockchain is a continuous timeline. Hope that makes sense.

Cheers

[gjhiggins]

Hope that makes sense.

Yes, thanks for being explicit. I have a quite different model and it points me in a different direction.

My view is more along the lines sketched here: https://medium.com/institute-for-the-future/bitcoin-is-the-sewer-rat-of-currencies-b89819cdf036#.d6ar4k1vq


Cheers

Graham

[britcoin3]

Britcoin 3.0.0.0 Mac wallet now available at britcoin.xyz.  Thanks mammix2

[will7am]

Britcoin 3.0.0.0 Mac wallet now available at britcoin.xyz.  Thanks mammix2

Good news!  Well done mammix

[britcoin3]

If compiling Britcoin 3 from source, you must use Berkeley DB 4 (e.g. 4. and not 5.  Version 5 databases are incompatible with 4.  If you tried with version 5, you'd better delete your copy of the blockchain and start again.

Here are some sample commands for how to get going on an Ubuntu VPS.  Note that you need over 1GB RAM to compile Britcoin because of the TOR stuff.

sudo apt-get update
sudo apt-get install libevent-dev
apt-get install git
git clone https://github.com/greenmo000/britcoin3.0.git
cd britcoin3.0/src
apt-get install nano
nano makefile.unix
<edit the file to change USE_UPNP=0 to USE_UPNP=1.  Save using Ctrl+O and press enter to save under the same filename, then exit using Ctrl+x.>
sudo apt-get install gcc
sudo apt-get install openssl
sudo apt-get install libssl-dev
sudo apt-get install g++

cd ~
wget 'http://download.oracle.com/berkeley-db/db-4.8.30.NC.tar.gz'
tar -xzvf db-4.8.30.NC.tar.gz
cd db-4.8.30.NC/build_unix/
../dist/configure --enable-cxx
make
sudo make install


# Tell your system where to find db4.8
export BDB_INCLUDE_PATH="/usr/local/BerkeleyDB.4.8/include"
export BDB_LIB_PATH="/usr/local/BerkeleyDB.4.8/lib"
sudo ln -s /usr/local/BerkeleyDB.4.8/lib/libdb-4.8.so /usr/lib/libdb-4.8.so
sudo ln -s /usr/local/BerkeleyDB.4.8/lib/libdb_cxx-4.8.so /usr/lib/libdb_cxx-4.8.so

sudo apt-get install libminiupnpc-dev

cd ~/britcoin3.0/src
make -f makefile.unix

./britcoind -daemon -upnp

That gives you a suggested username and password.

nano ~/.britcoin/britcoin.conf

Put these in the text file:

rpcuser=britcoinrpc
rpcpassword=that password you just got
addnode=rhv7dqsrvp7chadj.onion # just until we get some brit 3.0 nodes up
addnode=pqpx555lypwf2uey.onion # just until we get some brit 3.0 nodes up


./britcoind -daemon -upnp

[will7am]

New invoice is here: http://invoices.cryptobe.com/f913c4871c3cd5d62791d150886b99e32b025391

The previous deposit from the old invoice has been carried over.

Thanks mate.  Can someone please donate some BTC to get a block explorer online, I've given what I can

[VanityWallets2015]

To create an additional "premine" on the chain, is the equivalent of banks printing money against thin air (quantitative easing) which is partly why the blockchain was invented to prevent that sort of behaviour.

Well, QE was something to bail out private banks, wasn't it?  We're talking about using Britcoins to pay to keep Britcoin running, maintained, and supported, which is more like the the BoE using some of the money they print to pay for petrol, printing presses, educational leaflets, whatever.  (Which is surely better than the BoE employees, including unpaid interns, having to pay for that from their own pockets!)

This.  Also increasing the PoS payouts is closer to QE than adding new coins, since just like QE the new coins will go in to the hands of those who have the most coin already.  At least if we mint 1m new coins we can have a plan in place as to where exactly those coins go and can track them via the blockchain.

To be honest if there was an exchange where I could buy 1m coins at the last price then I'd prolly do that and not add additional coins, but the fact is Brit has 0 volume.  So long term I don't think people will have a problem, especially considering I suspect over 3m-5m Brits have been lost since launching due to people forgetting about them or HD failures etc.

To be fair Wil, to be honest you decided no longer to guide the coin and left (I also clearly remember the rather unsavoury dispute from the original thread), and then this Ken guy was obviously completely made up, no one would pay for something then not do it, Ken doesnt even exist.

Increasing POS payouts benefits investors who have been supporting the coin for a number of years and kept the stake, unlike others who dumped for Bitcoin before it was removed from the exchange, so it's their loss really. Experience has shown that actually people who have premined coins have dumped at some point along the timeline, additional premine is not a trust based mechanism.

Any premine is going to be dumped on an exchange as soon as it is listed to pay for development, and to maximise the revenue for the dev team other people have to keep buying to keep the price high so you can sell the premine to make enough for development.

The facts are;

- there are insufficient coins to create enough market interest, increasing to 250 million + for a mass use cryptocurrency would be better (particularly for a global audience)
- increasing POS over a 2 year period (or sooner) to that level and then being guided by stakeholders contributions would be a fasttrack way for achieving both aims
- the development team should make money trading crypto like everyone else who has invested that way?

The assumption that 3 - 5 million "may have been lost" is a bit absurd, there is no way of quantifying that at all. However if that were true the remaining coins are of increased value rather than the $28 you were offering for 100,000 units earlier in this thread!

So therefore I dispute and disagree with the option to create an additional premine for a dev team that (1) has picked up the coin without consensus and thus has not demonstrated trust yet and (2) you already decided not to participate (when you sold it all to the non existent Ken) so why come back now?

Management of cryptocurrency may seem like a bit of fun just now, but if you manage to create a currency that is used by millions of people, will you accept your financial responsibility or will you just dump it like you did before and leave millions of people without being able to use money? It's a very worrying prospect.

Existing stakeholders are being asked to support a level of unreliability and perhaps dishonesty.

Do you have a telephone number, address, website, business contact details for "Ken" Wil? And can they be verified in a public digital/business/telephone directory? Or do you have a copy of an invoice/payment from Ken for the Britcoin stuff?

I think now would be a good time to pass on that information so we can be demonstrated that there is honesty and transparency, and we can ask "Ken" why he has chosen not to take on the development of something he purchased.

One or more people have to be officially responsible. I smell a scam, particularly as Cryptsy said they had been scammed by a Dev including a backdoor into a wallet that stole Bitcoins, there has to be a significant element of trust built before moving forward.

Look forward to hearing some details.

[will7am]

To be fair Wil, to be honest you decided no longer to guide the coin and left (I also clearly remember the rather unsavoury dispute from the original thread), and then this Ken guy was obviously completely made up, no one would pay for something then not do it, Ken doesnt even exist.

I stopped working on Britcoin because it was costing me too much (I have spent a lot more on Britcoin than I've made) and I just didn't have the time to keep working at a loss.  As for your "Ken doesn't even exist" comment, you're so wrong it's painful.  Keep your moronic assumptions to yourself, I don't appreciate being called a liar by someone who has no clue.

I'm not even going to respond to the rest of the crap you wrote tbh, I have more productive things to do with my time.

I'm trying (with mogreen and others) to get Britcoin going again because it's a cool project and has great future potential, but since you're a giant bag holder and clearly an asshat then I don't think I'm going to bother.  Why should I put my time and effort in to something when the largest stake holder is a blithering moron who throws around false accusations at the drop of a hat?  I'd rather start a new coin with the Britcoin name than put up with your shit.

I smell a scam

Yes, I'm planning on dumping £50 worth of coins on an exchange that Brit is not even listed on, you discovered my master plan! 

Get your head out of your arse mate.

[Nxtblg]

This is great news guys.  Sorry I've only just seen the new posts, I don't have any notifications setup so I just check back once in awhile.  Will put on email notification now before I forget. 

Hi, will7am & everyone. I got an Email notification about the revival effort, which is why I'm posting here. To be honest, I lost track of Britcoin a long time ago but it's nice to see the revival effort.

[britcoin3]

Have got a new 3.0 node with Crowncloud.

addnode=w3guguvt2hqjollp.onion

Have another node with DigitalOcean but it's having trouble staying running; not sure why.

Mo

[britcoin3]

An node that will be good for another week or two:
addnode=rttbnwomigc4t7ex.onion

[penambang]

got bunch of this error on my ubuntu server when running britcoind daemon:

Code:

tor: exit policy

Any clue what happened?

[britcoin3]

got bunch of this error on my ubuntu server when running britcoind daemon:

Code:

tor: exit policy

Any clue what happened?

Yes, I get those too, but unfortunately all this TOR stuff is above my head for now and I can't figure it out.

Are you managing to connect to other Britcoin 3.0 nodes?  You can see by running

./britcoind getpeerinfo

when the daemon's already running, as you probably already know.

[penambang]

got bunch of this error on my ubuntu server when running britcoind daemon:

Code:

tor: exit policy

Any clue what happened?

Yes, I get those too, but unfortunately all this TOR stuff is above my head for now and I can't figure it out.

Are you managing to connect to other Britcoin 3.0 nodes?  You can see by running

./britcoind getpeerinfo

when the daemon's already running, as you probably already know.

Nope, still unable to connect to britcoin 3 nodes, I only have 2 peers connected.
could you take a look korecoin tor source code? I never have problem with tor on korecoin, maybe you can compare/tweak it to work with britcoin.

[britcoin3]

got bunch of this error on my ubuntu server when running britcoind daemon:

Code:

tor: exit policy

Any clue what happened?

Yes, I get those too, but unfortunately all this TOR stuff is above my head for now and I can't figure it out.

Are you managing to connect to other Britcoin 3.0 nodes?  You can see by running

./britcoind getpeerinfo

when the daemon's already running, as you probably already know.

Nope, still unable to connect to britcoin 3 nodes, I only have 2 peers connected.
could you take a look korecoin tor source code? I never have problem with tor on korecoin, maybe you can compare/tweak it to work with britcoin.

Well, I'm getting similar problems on my Linux servers tbh.

Let's try to narrow down the problem.  How about this one?  This one's running Britcoin 3.0 on Windows.  Can anyone connect to this from another Windows wallet?

An node that will be good for another week or two:
addnode=rttbnwomigc4t7ex.onion

[VanityWallets2015]

This is great news guys.  Sorry I've only just seen the new posts, I don't have any notifications setup so I just check back once in awhile.  Will put on email notification now before I forget. 

Hi, will7am & everyone. I got an Email notification about the revival effort, which is why I'm posting here. To be honest, I lost track of Britcoin a long time ago but it's nice to see the revival effort.

I agree, Britcoin is a fantastic project, but it needs high level investors which it is unlikely to get unless it starts to co-opt existing banking infrastructure.

[VanityWallets2015]

To be fair Wil, to be honest you decided no longer to guide the coin and left (I also clearly remember the rather unsavoury dispute from the original thread), and then this Ken guy was obviously completely made up, no one would pay for something then not do it, Ken doesnt even exist.

I stopped working on Britcoin because it was costing me too much (I have spent a lot more on Britcoin than I've made) and I just didn't have the time to keep working at a loss.  As for your "Ken doesn't even exist" comment, you're so wrong it's painful.  Keep your moronic assumptions to yourself, I don't appreciate being called a liar by someone who has no clue.

I'm not even going to respond to the rest of the crap you wrote tbh, I have more productive things to do with my time.

I'm trying (with mogreen and others) to get Britcoin going again because it's a cool project and has great future potential, but since you're a giant bag holder and clearly an asshat then I don't think I'm going to bother.  Why should I put my time and effort in to something when the largest stake holder is a blithering moron who throws around false accusations at the drop of a hat?  I'd rather start a new coin with the Britcoin name than put up with your shit.

I smell a scam

Yes, I'm planning on dumping £50 worth of coins on an exchange that Brit is not even listed on, you discovered my master plan! 

Get your head out of your arse mate.

Wil, yes, like many IT people you largely did the work single handedly with little in return at that time, but you should realise these are 25 year projects not 2 year projects, blockchain is long term.

I offered to take it off your hands and continue with its development even partially funding it, however you wanted money for the websites etc which kind of goes against the grain of a "community" project and consensus without quantifying time and value.

I have offered a challenge for you to open up to the community about Ken, however you seem to have declined the challenge, that in itself raises some suspicion - I am not saying you arent a good person and you have clearly done alot with a hope of at least a small return on your efforts however you need to be straight with the community.

Anyone can fork Britcoin and make the new fork undesirable (as long as there are blockchain checkpoints) so a community must work together.

Im not a "giant bagholder" I am a stakeholder and an investor - it is disrespectful to call someone an asshat when they have the best intentions for the coin, blockchain and other investors - if that makes me an asshat looking out for other people then so be it.

Lets look at the Britcoin values, when purchased each coin was around 120 sats, which means even my 500,000 are only worth 0.6 BTC at purchase value (not including losses or gains from trading), given only 10 million coins these are well undervalued (considering DMD with 4 million are around 70,000 sats) so a realistic value at the current time as is should be around 28,000 sats each.

Now that would make my 500k worth 140 bitcoins, around $56,000. Tidy.

So if you, for example, initiated another premine of 10 million which would reduce the value to around 14,000 sats each that would still give you a potential income of 1,400 BTC which is $560,000.

This is EXACTLY why I am against an additional premine, but for the official establishment of a foundation.

I will checkpoint the current blockchain and remain on that chain for the purposes of a rollback to preserve the value and integrity of the chain.

I'm looking forward to seeing the new roadmap, establishment of a foundation with a 25 year timeline, and more information about the mysterious Ken.

[penambang]

Well, I'm getting similar problems on my Linux servers tbh.

Let's try to narrow down the problem.  How about this one?  This one's running Britcoin 3.0 on Windows.  Can anyone connect to this from another Windows wallet?

An node that will be good for another week or two:
addnode=rttbnwomigc4t7ex.onion

My v3 wallet peers:

Code:

[
{
"addr" : "pqpx555lypwf2uey.onion:9197",
"services" : "00000001",
"lastsend" : 1456748842,
"lastrecv" : 1456748845,
"conntime" : 1456748839,
"version" : 60013,
"subver" : "/BritCoin:2.1.0/",
"inbound" : false,
"startingheight" : 806851,
"banscore" : 0
},
{
"addr" : "rhv7dqsrvp7chadj.onion:9197",
"services" : "00000001",
"lastsend" : 1456748884,
"lastrecv" : 1456748886,
"conntime" : 1456748883,
"version" : 60013,
"subver" : "/BritCoin:2.1.0/",
"inbound" : false,
"startingheight" : 806851,
"banscore" : 0
}
]

Still won't connected to v3 nodes

[britcoin3]

Well, I'm getting similar problems on my Linux servers tbh.

Let's try to narrow down the problem.  How about this one?  This one's running Britcoin 3.0 on Windows.  Can anyone connect to this from another Windows wallet?

An node that will be good for another week or two:
addnode=rttbnwomigc4t7ex.onion

My v3 wallet peers:

Code:

[
{
"addr" : "pqpx555lypwf2uey.onion:9197",
"services" : "00000001",
"lastsend" : 1456748842,
"lastrecv" : 1456748845,
"conntime" : 1456748839,
"version" : 60013,
"subver" : "/BritCoin:2.1.0/",
"inbound" : false,
"startingheight" : 806851,
"banscore" : 0
},
{
"addr" : "rhv7dqsrvp7chadj.onion:9197",
"services" : "00000001",
"lastsend" : 1456748884,
"lastrecv" : 1456748886,
"conntime" : 1456748883,
"version" : 60013,
"subver" : "/BritCoin:2.1.0/",
"inbound" : false,
"startingheight" : 806851,
"banscore" : 0
}
]

Still won't connected to v3 nodes

Keep your nodes up as much as you can and stand tight; am gonna see if mammix2 will help me figure this out.

[mammix2]

We've worked through some issues found in the code, mostly port definitions and build specifications.
The connectivity is looking good now