[ANN][XRB]Cryptocurrency's killer app: RaiBlocks micropayments

[Cryptorials]

I haven't read everything that's been said about the distribution but just to put my two cents in: I would like to retain the faucet in some way.

The reason for this is because I am going to use the micropayments to allow users to view my site with all the ads blocked. It would be great it people who have never heard of RAI could go and get some free coins to do this with, rather than having to go through all the hassle of buying them (which nobody will do - limiting the use of this to people who already own some Mrai).

I know that's a selfish reason for me, but I think the same principle will apply for anybody else who does this on their site / app.

I think DEV wont hear about faucet right now.. he is collecting money right now..

Maybe we could make this coin worthless again..

Lol, maybe.

 I do find it a bit strange that the guy was happy to give people this coin for free and then a bunch of people came along and complained about that, but they seem to be happy to pay for it instead. Who are all these people who don't like free stuff?

[Flomess]

I think 475k Mrai per lot is to much

This was the distribution schedule.

2^128 initial, 50% first year, 365 days per year, 10^30 per Mrai.

2^128 / 2 / 365 / 10^30 = 466,140  per day.

No, you don't understand. It's to much to sell 475k (0,13% of total coin) to only one person.

*

137 MIL (remaining) to be distributed the first year. It means that AT BEST 280 investors will hold ALL the coins in circulation by October 2016...
Please, please just do an ICO / IPO

[clemahieu]

I haven't read everything that's been said about the distribution but just to put my two cents in: I would like to retain the faucet in some way.

The reason for this is because I am going to use the micropayments to allow users to view my site with all the ads blocked. It would be great it people who have never heard of RAI could go and get some free coins to do this with, rather than having to go through all the hassle of buying them (which nobody will do - limiting the use of this to people who already own some Mrai).

I know that's a selfish reason for me, but I think the same principle will apply for anybody else who does this on their site / app.

I'd like it to be around too, the issue I see is the proposals out there for retaining the faucet would make it almost useless to new users.  A 1 or 12 hour timer means we need to wait that long from when the session starts to when the user can first hit the faucet, otherwise someone can drain it simply clearing browser cache and attempting again.

The recommendation to just let it empty for the day also means the legion of people who will be pounding it when its filled up will get everything and an average user who arrives and wants to try will always find it empty.

Even if we could divide the faucet amount down there's still the situation that people who pay others to click for them will get >95% of everything that comes out of it which is why I'm very confused why this is such a popular wish.

[TheBomber999]

137 MIL (remaining) to be distributed the first year. It means that AT BEST 280 investors will hold ALL the coins in circulation by October 2016...
Please, please just do an ICO / IPO

+1 


This is the way to destroy this coin

[Cryptorials]

I'd like it to be around too, the issue I see is the proposals out there for retaining the faucet would make it almost useless to new users.  A 1 or 12 hour timer means we need to wait that long from when the session starts to when the user can first hit the faucet, otherwise someone can drain it simply clearing browser cache and attempting again.

Your using a cookie or something for the timer? Why not log user IP? I know that can still be gamed but there are plenty of faucets around who seem to be able to operate without it being a major issue.

[HostFat]

Even if we could divide the faucet amount down there's still the situation that people who pay others to click for them will get >95% of everything that comes out of it which is why I'm very confused why this is such a popular wish.

Because some of them are naive and don't understand this problem, and the others are waiting to exploit it as you wrote

[cyberhacker]

Even if we could divide the faucet amount down there's still the situation that people who pay others to click for them will get >95% of everything that comes out of it which is why I'm very confused why this is such a popular wish.

this is free market.

what is the problem that ppl click and trade for money.

You can't play god. in a free market.

[cyberhacker]

if you want to true fairness. then drop to all BTC/ltc/doge holder


or  do Proof of Burn.

[jokumat]

Coins always go to those who are wealthy enough to buy them. This is inevitable. The "distribution to human workers" idea was naive. Yes, maybe some percentage can go through the faucet. But more like marketing, not as a way to distribute "fairly".  

On the other side longterm distribution can be a good idea. Maybe. Because nobody will feel he "missed the boat". But the price must be set as sharply rising, maybe in "investment" rounds. There should be incentives to hold now. No real coin can exist without speculation

[clemahieu]

Even if we could divide the faucet amount down there's still the situation that people who pay others to click for them will get >95% of everything that comes out of it which is why I'm very confused why this is such a popular wish.

Because some of them are naive and don't understand this problem, and the others are waiting to exploit it as you wrote

Probably, some very vocal users that have posted recently private messaged me recommending I put everything on the faucet with no limit and distribute it within a week, somehow this was viewed as fair to them.

[jokumat]

if you want to true fairness. then drop to all BTC/ltc/doge holder


or  do Proof of Burn.

Drops to other coin holders result in value destruction.

[clemahieu]

Coins always go to those who are wealthy enough to buy them. This is inevitable. The "distribution to human workers" idea was naive. Yes, maybe some percentage can go through the faucet. But more like marketing, not as a way to distribute "fairly".  

On the other side longterm distribution can be a good idea. Maybe. Because nobody will feel he "missed the boat". But the price must be set as sharply rising, maybe in "investment" rounds. There should be incentives to hold now. No real coin can exist without speculation

Right, the idea on the distribution schedule was a tradeoff between not overly favoring early adopters and finishing at a defined timepoint.  Maybe 4 years, 2 years, would be a better idea but blasting it all out in a couple weeks makes little sense.

[TheBomber999]

Even if we could divide the faucet amount down there's still the situation that people who pay others to click for them will get >95% of everything that comes out of it which is why I'm very confused why this is such a popular wish.

I think you are confused by earn satoshi from the auctions

If not, why not make bids on a like counterparty's address?

[johny08]

A question as a newbie, how do you work without fees. Will it stay like that?

[ajareselde]

I don't get why anyone would even bid in an auction; why would investor think he will sell higher later on, if noone
made bid higher than him.

person 1 buys at 100 sat at auction and wants to sell at 120 sat later on
person 2 didn't want to pay higher at auction - so why the hell would he pay more now to person 1?

[Cryptorials]

I don't get why anyone would even bid in an auction; why would investor think he will sell higher later on, if noone
made bid higher than him.

person 1 buys at 100 sat at auction and wants to sell at 120 sat later on
person 2 didn't want to pay higher at auction - so why the hell would he pay more now to person 1?

I agree. I don't think I would buy in an auction.

[3worlduser]

have you seen the bid? this guy will collect at least 1 BTC daily keep dreaming he is going to give any coin away now that it has some value
free - fair - equal means nothing, now is just the daily 7 big fish to sell them his coins.... for the next 2 maybe 4 years, it a soooo fair distribution plan

[cyberhacker]

Even if we could divide the faucet amount down there's still the situation that people who pay others to click for them will get >95% of everything that comes out of it which is why I'm very confused why this is such a popular wish.

Because some of them are naive and don't understand this problem, and the others are waiting to exploit it as you wrote

Probably, some very vocal users that have posted recently private messaged me recommending I put everything on the faucet with no limit and distribute it within a week, somehow this was viewed as fair to them.

that is me.  no problem point it out.

all i want is not making distribution painful.

either do it as recaptcha or ICO  is far less controversial than bid auction.

I have no problem letting dev get funds by ICO.

BUT please, don't do it by bid auction.  which is most destructive way for you to collect money or get fairness in distribution.

make ppl think you are fishing ppl by some faucet and actually greedy to collect btc from noobs dreaming getting rich by bid each other.

[honghaisea]

I suggest people to consider to sell as fast as possibile Mrai because this system works with trust, but is only my suggestion... Feel free to decide.

Yes,   you are right.

[HostFat]

I think another good way is the CLAM method:
https://bitcointalk.org/index.php?topic=623147.0