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Author Topic: [ANN]★CryptoBridge★BCO★🔹Decentralized EXchange 📈RELEASED NOW BETA🔹  (Read 62976 times)
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darksidejungle
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October 24, 2017, 12:08:58 PM
 #421

In order to validate my computations, I also calculated the top 100 owner for LTC, it is about 68% of the total.  For BCO, it just does not add up.  top 100 owners is about 110% of the maximum supply.  it just does not add up,  kind of fishy to me unless some one can explain to me

Rich list on these explorers regulary go buggy and show larger ammount than should be.
My wallet should be in top 100, but it hasn't appeared there yet. The explorer definately needs sorting out, it doesn't update very regularly/ at all. Maybe there is some explaination for this
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October 24, 2017, 12:46:19 PM
 #422

Hi I need some help. I start mining Bridgecoin on the pool.bridgecoin.org for a few days.Everything works fine until today. My hash rate and share is up. But there is no income. There is small confirmed amount but unconfirmed is 0. I checked on transactions history. The last transaction is at block #120483 which is 16 hours ago. What's happened to my account? Please anyone help me! Cry
While this problems is not solved, I will move to mine at other pool.
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October 24, 2017, 01:04:01 PM
 #423

copy the top 100 owners to a spreadsheet, add all share together,  you will know there are more than 27 million shares just from the top 100 owners, which is more than the maximum.

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CryptoBridge
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October 24, 2017, 01:29:47 PM
 #424

There is an issue with the block explorer. It shows POS while there was no staking due to a misconfiguration. The top100 list is not accurate due to this. The correct supply currently is 25264960 BCO coins.

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October 24, 2017, 01:40:09 PM
 #425

Hi I need some help. I start mining Bridgecoin on the pool.bridgecoin.org for a few days.Everything works fine until today. My hash rate and share is up. But there is no income. There is small confirmed amount but unconfirmed is 0. I checked on transactions history. The last transaction is at block #120483 which is 16 hours ago. What's happened to my account? Please anyone help me! Cry
While this problems is not solved, I will move to mine at other pool.

There was a problem with the pool, all the missing balances have been credited now.

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October 24, 2017, 02:08:15 PM
 #426

Hi I need some help. I start mining Bridgecoin on the pool.bridgecoin.org for a few days.Everything works fine until today. My hash rate and share is up. But there is no income. There is small confirmed amount but unconfirmed is 0. I checked on transactions history. The last transaction is at block #120483 which is 16 hours ago. What's happened to my account? Please anyone help me! Cry
While this problems is not solved, I will move to mine at other pool.

There was a problem with the pool, all the missing balances have been credited now.

OK. I received the balance. I move back. Thanks!
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October 24, 2017, 07:53:13 PM
 #427

There is an issue with the block explorer. It shows POS while there was no staking due to a misconfiguration. The top100 list is not accurate due to this. The correct supply currently is 25264960 BCO coins.
When will all coins be mined? As max is only 27m?
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October 24, 2017, 08:03:17 PM
 #428

Last time I checked, all coins will be mined by late december this year. Staking at the DEX will be active by then so there's no need to be mining.

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October 24, 2017, 11:08:01 PM
 #429

While,  as far as I can see,  PoS has been going on at least since July 15th and is still going strong  today.  Check below transaction, which is from today, it is for shares created from PoS:

https://explorer.bridgecoin.org/tx/a652d14823e2f08f69439aab2cc439f0e0597fcc92bd723d7b7bd58d32be2cbf

unless you are not in control of the project, someone is inserting shares to the chain other than mining now.

I don't mind of PoS, But claiming the maximum of 27 million shares while actually producing much more shares is of concern.

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October 25, 2017, 03:39:16 AM
 #430

Try looking in the source code: https://github.com/CryptoBridge/bridgecoin/.
I found the miner rewards parts and the halvenings, but I haven't found anything about PoS rewards. If anyone knows how to check a local version of a blockchain I'm sure we can verify whether or not PoS rewards are occuring.
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October 25, 2017, 04:52:02 AM
 #431

While,  as far as I can see,  PoS has been going on at least since July 15th and is still going strong  today.  Check below transaction, which is from today, it is for shares created from PoS:

https://explorer.bridgecoin.org/tx/a652d14823e2f08f69439aab2cc439f0e0597fcc92bd723d7b7bd58d32be2cbf

unless you are not in control of the project, someone is inserting shares to the chain other than mining now.

I don't mind of PoS, But claiming the maximum of 27 million shares while actually producing much more shares is of concern.
You can see the raw transaction data for that at https://explorer.bridgecoin.org/api/getrawtransaction?txid=a652d14823e2f08f69439aab2cc439f0e0597fcc92bd723d7b7bd58d32be2cbf&decrypt=1.

You can tally up the input transactions, which are the txids in the vin section (here's the first one):
https://explorer.bridgecoin.org/tx/a85a3ee5fc23a918e4cbdc8f574d3e0dae8ef9ad6b94fca863e5f697c762fc75

There are a total of 18 input transactions that tally up to 1152 BCO (they're all 64 coin mining rewards), which is the sum of the outputs of the original transaction.

The BCO is all accounted for, so there must an error in how the block explorer is displaying transactions in its webpage, and PoS rewards are not happening.
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October 25, 2017, 08:32:05 AM
 #432

So couple questions from an investing standpoint.

1. How did you guys come up with the 50% profitsharing number? The way you structured this feels almost like buying stock in a regular business, however a stock in a regular business gets you the same share as what you pay for. In this case, if I buy all the bridgecoins available I only have 50% of the company.

2. I understand there must be an incentive for you to run/maintain the exchange, so rewarding yourself with 50% of the profits is one way to do this instead of doing an ICO and taking x% of coins for yourself. Once you don't have ANY coins, you are purely incentivized to make this exchange grow and reap the rewards. Instead of, like with most ICO's, pumping up some sort of business and running away with a couple million. BUT, I think you also started mining bridgecoins for yourself, so while not explicitly giving yourself x% of bridgecoins, by being the first miner, this is what happened anyway? How many bridgecoins do you have? 

3. Building the product is just the first step in running a succesfull business, redistributing all the profits seems nice, but what happens when you want to grow this exchange and need money to do this (advertising/employees/lawyers/etc). Who will pay for growth, who will decide how to grow?

4. Previous point leads to this point: Who are you? People are saying this isn't relevant, but it is relevant once I buy bridgecoins, become a shareholder and have my profits in your hands. 
striker7334 2.0
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October 25, 2017, 10:44:26 AM
 #433

So couple questions from an investing standpoint.

1. How did you guys come up with the 50% profitsharing number? The way you structured this feels almost like buying stock in a regular business, however a stock in a regular business gets you the same share as what you pay for. In this case, if I buy all the bridgecoins available I only have 50% of the company.

2. I understand there must be an incentive for you to run/maintain the exchange, so rewarding yourself with 50% of the profits is one way to do this instead of doing an ICO and taking x% of coins for yourself. Once you don't have ANY coins, you are purely incentivized to make this exchange grow and reap the rewards. Instead of, like with most ICO's, pumping up some sort of business and running away with a couple million. BUT, I think you also started mining bridgecoins for yourself, so while not explicitly giving yourself x% of bridgecoins, by being the first miner, this is what happened anyway? How many bridgecoins do you have?  

3. Building the product is just the first step in running a succesfull business, redistributing all the profits seems nice, but what happens when you want to grow this exchange and need money to do this (advertising/employees/lawyers/etc). Who will pay for growth, who will decide how to grow?

4. Previous point leads to this point: Who are you? People are saying this isn't relevant, but it is relevant once I buy bridgecoins, become a shareholder and have my profits in your hands.  

Man good questions I wouldn't mind hearing the answers to these myself; I mean so far I like the idea and the product but the author above does bring good questions and I also fail to see how that isn't relevant and would like to know myself. If you don't want to dox yourself then no one can force you to but growth for your product will be a lot slower because ppl wont trust you as easy. I don't bridgecoin gives you ownership of anything but the fees. Here's from the website:  
"How you as a BridgeCoin owner can benefit from CryptoBridge Decentralized Exchange:

After the full version of CryptoBridge launches, participating BCO owners will receive 50% from all profits from operation including:

Trading fees
Coin signup fees
Profit from internal arbitrage
Referral program"

So it doesn't say anything about voting shares for development path going forward therefore I would say bridgecoin is more of a common stock then a bond or blue chip stock.

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October 25, 2017, 03:05:38 PM
 #434

The new website is quality.https://crypto-bridge.org/

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October 25, 2017, 03:17:32 PM
 #435

So couple questions from an investing standpoint.

1. How did you guys come up with the 50% profitsharing number? The way you structured this feels almost like buying stock in a regular business, however a stock in a regular business gets you the same share as what you pay for. In this case, if I buy all the bridgecoins available I only have 50% of the company.

2. I understand there must be an incentive for you to run/maintain the exchange, so rewarding yourself with 50% of the profits is one way to do this instead of doing an ICO and taking x% of coins for yourself. Once you don't have ANY coins, you are purely incentivized to make this exchange grow and reap the rewards. Instead of, like with most ICO's, pumping up some sort of business and running away with a couple million. BUT, I think you also started mining bridgecoins for yourself, so while not explicitly giving yourself x% of bridgecoins, by being the first miner, this is what happened anyway? How many bridgecoins do you have? 

3. Building the product is just the first step in running a succesfull business, redistributing all the profits seems nice, but what happens when you want to grow this exchange and need money to do this (advertising/employees/lawyers/etc). Who will pay for growth, who will decide how to grow?

4. Previous point leads to this point: Who are you? People are saying this isn't relevant, but it is relevant once I buy bridgecoins, become a shareholder and have my profits in your hands. 

Good questions, would be great to see the responses. I'm particularly interested in exchanges that are sharing fees with token holders which creates a steady future income flow.

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October 26, 2017, 06:28:08 AM
 #436

Many people still don't know how bad centralized exchanges, bittrex example - blocked users under false pretences - prior to fork btc. And immediately after that begins to demand a complete user authentication. Bittrex is already a Scam. Only decentralized exchange now the security segment!

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October 26, 2017, 08:52:02 AM
 #437

Thank you for your questions. Going to try to answer them as best as we can.

1) There are no shares in a company. There is no exchange company. This is a decentralized exchange supported by a group of developers (us). There's nothing to own other than being entitled to 50% fee payouts from the DEX as a smart contract, there is no exchange company where you could own shares or stocks.

2) Bridgecoin was fairly mined as a scrypt-compatible coin from Day 1. The dev-team mined in competition with everyone else, there was no pre-mine. The early miners can second that. Our mined BCO will finance the development of the decentralized exchange, assuming it reaches a higher price. Right now the funding is secured until the end of the year, as we were able to sell at the good prices last week. This is very much in contrast to the usual ICO launch where some budget is reserved.

Doing an ICO in our juristiction is very illegal and we want to stay out of jail, this is why we created BridgeCoin to finance the development of the DEX.

3) Future (business) development will be paid out of the 50% fee that stays with the CryptoBridge devs, or alternatively with BCO, if we haven't sold them yet, to finance the application. As there is no exchange company, there are no voting rights in what direction the DEX will take. Our experience with BitShares tells us that it is almost impossible to reach consensus in which direction the project should move, that is part of the reason why it is not very successful so far.

4) You're not investing into us, nor are we selling coins directly to you. You're buying them on the free market. You, as an investor, have to decide on the value proposition. You're welcome to compare this project to other (exchange) ICOs out there. Compared to them, we already have a working product and completed several milestones already. We're dependant on the BCO price to go up to continue to finance the development, so we're very commited to this project. There's nothing in for us to abandon the project since we're heavily invested in it. Knowing or not knowing who the devs are does not change this situation.

So couple questions from an investing standpoint.

1. How did you guys come up with the 50% profitsharing number? The way you structured this feels almost like buying stock in a regular business, however a stock in a regular business gets you the same share as what you pay for. In this case, if I buy all the bridgecoins available I only have 50% of the company.

2. I understand there must be an incentive for you to run/maintain the exchange, so rewarding yourself with 50% of the profits is one way to do this instead of doing an ICO and taking x% of coins for yourself. Once you don't have ANY coins, you are purely incentivized to make this exchange grow and reap the rewards. Instead of, like with most ICO's, pumping up some sort of business and running away with a couple million. BUT, I think you also started mining bridgecoins for yourself, so while not explicitly giving yourself x% of bridgecoins, by being the first miner, this is what happened anyway? How many bridgecoins do you have? 

3. Building the product is just the first step in running a succesfull business, redistributing all the profits seems nice, but what happens when you want to grow this exchange and need money to do this (advertising/employees/lawyers/etc). Who will pay for growth, who will decide how to grow?

4. Previous point leads to this point: Who are you? People are saying this isn't relevant, but it is relevant once I buy bridgecoins, become a shareholder and have my profits in your hands. 

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October 26, 2017, 09:07:09 AM
 #438

Is there any chance of us getting a more accurate explorer? I think this would enhance the project a great deal by providing more transparency to investors and miners.
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October 26, 2017, 09:37:24 AM
 #439

Thank you for your questions. Going to try to answer them as best as we can.

1) There are no shares in a company. There is no exchange company. This is a decentralized exchange supported by a group of developers (us). There's nothing to own other than being entitled to 50% fee payouts from the DEX as a smart contract, there is no exchange company where you could own shares or stocks.

2) Bridgecoin was fairly mined as a scrypt-compatible coin from Day 1. The dev-team mined in competition with everyone else, there was no pre-mine. The early miners can second that. Our mined BCO will finance the development of the decentralized exchange, assuming it reaches a higher price. Right now the funding is secured until the end of the year, as we were able to sell at the good prices last week. This is very much in contrast to the usual ICO launch where some budget is reserved.

Doing an ICO in our juristiction is very illegal and we want to stay out of jail, this is why we created BridgeCoin to finance the development of the DEX.

3) Future (business) development will be paid out of the 50% fee that stays with the CryptoBridge devs, or alternatively with BCO, if we haven't sold them yet, to finance the application. As there is no exchange company, there are no voting rights in what direction the DEX will take. Our experience with BitShares tells us that it is almost impossible to reach consensus in which direction the project should move, that is part of the reason why it is not very successful so far.

4) You're not investing into us, nor are we selling coins directly to you. You're buying them on the free market. You, as an investor, have to decide on the value proposition. You're welcome to compare this project to other (exchange) ICOs out there. Compared to them, we already have a working product and completed several milestones already. We're dependant on the BCO price to go up to continue to finance the development, so we're very commited to this project. There's nothing in for us to abandon the project since we're heavily invested in it. Knowing or not knowing who the devs are does not change this situation.

So couple questions from an investing standpoint.

1. How did you guys come up with the 50% profitsharing number? The way you structured this feels almost like buying stock in a regular business, however a stock in a regular business gets you the same share as what you pay for. In this case, if I buy all the bridgecoins available I only have 50% of the company.

2. I understand there must be an incentive for you to run/maintain the exchange, so rewarding yourself with 50% of the profits is one way to do this instead of doing an ICO and taking x% of coins for yourself. Once you don't have ANY coins, you are purely incentivized to make this exchange grow and reap the rewards. Instead of, like with most ICO's, pumping up some sort of business and running away with a couple million. BUT, I think you also started mining bridgecoins for yourself, so while not explicitly giving yourself x% of bridgecoins, by being the first miner, this is what happened anyway? How many bridgecoins do you have? 

3. Building the product is just the first step in running a succesfull business, redistributing all the profits seems nice, but what happens when you want to grow this exchange and need money to do this (advertising/employees/lawyers/etc). Who will pay for growth, who will decide how to grow?

4. Previous point leads to this point: Who are you? People are saying this isn't relevant, but it is relevant once I buy bridgecoins, become a shareholder and have my profits in your hands. 

Thank you for your clarification. An explorer which shows the right numbers would be really helpful.
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October 26, 2017, 10:01:46 AM
 #440

By unaminous verdict, please upgrade the explorer! I'm not bothered who the devs are, I can see they're working relentlessly on a good product.  Cool
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