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mineral (OP)
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February 21, 2014, 09:37:55 PM
Last edit: February 22, 2014, 01:38:17 AM by mineral |
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hey bitgemers, I have done substantial progress with sending gems. I have added an aditional tab "Send gems", enabling straight sending gems feature. Still work is needed, but I think a BETA pre-release is affordable for middle of next week. Besides, I will need beta-testers for testing sending gems feature. This is a true innovative coin, with new source and features. For this reason, it will be needed a full software cycle completion, ending up with testing the new feature. This is the looking of the new PRE-ALPHA wallet, with sending gems feature. Amazing, doesnt it?  |
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novaboy2k
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February 22, 2014, 11:45:22 AM |
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hey bitgemers, I have done substantial progress with sending gems. I have added an aditional tab "Send gems", enabling straight sending gems feature. Still work is needed, but I think a BETA pre-release is affordable for middle of next week. Besides, I will need beta-testers for testing sending gems feature. This is a true innovative coin, with new source and features. For this reason, it will be needed a full software cycle completion, ending up with testing the new feature. This is the looking of the new PRE-ALPHA wallet, with sending gems feature. Amazing, doesnt it? Truly amazing, I was hoping you would add a seperate tab for the gems. I will contribute to the testing if needed, I would like to be the 1st gem recipient/sender if that's possable :-) I hope you give your self a pat on the back for bitgem, its going to be a huge success. |
Darkcoin, the only fungible crypto currency.
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iampingu
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February 23, 2014, 12:28:03 AM |
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Will someone explain the point of the individual gems with the colored coins please, I don't understand it and would like to
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mineral (OP)
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February 23, 2014, 12:49:54 AM
Last edit: February 23, 2014, 01:07:12 AM by mineral |
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Will someone explain the point of the individual gems with the colored coins please, I don't understand it and would like to
BTG can be forged into Diamonds, Rubys, Sapphires or Emeralds, or abbrev. DMD, RBY, SPR, EMD (obviously our colored gems blockchain are not related with string copy-clones there out ). There are two processes implied: 1) Gem-forging process is represented like BTG -> {DMD, RBY, SPR, EMD}. It is carried out when user forges DMD, RBY, SPR, EMD with explicit settings of carat, color, clarity, cut and shape properties. 2) Bitgeminization is represented like {DMD, RBY, SPR, EMD} -> BTG. It is the opposite of Gem-forging, and it is carried out when an incoming BTG transaction is refunded to existent gems and re-forged. The aim of current developement is to provide a native method for sending colored gems, ie. DMD, RBY, SPR, EMD. Gem-forging and Bitgeminization process are planned to be developed next. I hope to have clarified a bit here. Regards. |
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novaboy2k
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February 23, 2014, 11:27:46 AM |
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Will someone explain the point of the individual gems with the colored coins please, I don't understand it and would like to
BTG can be forged into Diamonds, Rubys, Sapphires or Emeralds, or abbrev. DMD, RBY, SPR, EMD (obviously our colored gems blockchain are not related with string copy-clones there out ). There are two processes implied: 1) Gem-forging process is represented like BTG -> {DMD, RBY, SPR, EMD}. It is carried out when user forges DMD, RBY, SPR, EMD with explicit settings of carat, color, clarity, cut and shape properties. 2) Bitgeminization is represented like {DMD, RBY, SPR, EMD} -> BTG. It is the opposite of Gem-forging, and it is carried out when an incoming BTG transaction is refunded to existent gems and re-forged. The aim of current developement is to provide a native method for sending colored gems, ie. DMD, RBY, SPR, EMD. Gem-forging and Bitgeminization process are planned to be developed next. I hope to have clarified a bit here. Regards. Are Gem-forging and bitgeminization going to be included in the update next week? |
Darkcoin, the only fungible crypto currency.
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mineral (OP)
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February 23, 2014, 12:07:00 PM |
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Will someone explain the point of the individual gems with the colored coins please, I don't understand it and would like to
BTG can be forged into Diamonds, Rubys, Sapphires or Emeralds, or abbrev. DMD, RBY, SPR, EMD (obviously our colored gems blockchain are not related with string copy-clones there out ). There are two processes implied: 1) Gem-forging process is represented like BTG -> {DMD, RBY, SPR, EMD}. It is carried out when user forges DMD, RBY, SPR, EMD with explicit settings of carat, color, clarity, cut and shape properties. 2) Bitgeminization is represented like {DMD, RBY, SPR, EMD} -> BTG. It is the opposite of Gem-forging, and it is carried out when an incoming BTG transaction is refunded to existent gems and re-forged. The aim of current developement is to provide a native method for sending colored gems, ie. DMD, RBY, SPR, EMD. Gem-forging and Bitgeminization process are planned to be developed next. I hope to have clarified a bit here. Regards. Are Gem-forging and bitgeminization going to be included in the update next week? I would like that, really! It would be rather the next development stage, problably mid March. It would be the ending point for our proposal of built-in colored gems wallet, the first coin embodying succesfully a built-in colored coin wallet, within of a user-centered process implying gem-forging and bitgeminization when you send/receive a tx. It will be explained in a whitepaper, too. |
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novaboy2k
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February 23, 2014, 12:48:15 PM |
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What is being released next week exactly? if the working gem system isn't included?
I'm misunderstanding allot you say when it comes to your posts, as i was under the impression a working gem wallet was being released next week?
Am i wrong?
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Darkcoin, the only fungible crypto currency.
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mineral (OP)
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February 23, 2014, 12:56:39 PM |
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What is being released next week exactly? if the working gem system isn't included?
I'm misunderstanding allot you say when it comes to your posts, as i was under the impression a working gem wallet was being released next week?
Am i wrong?
Gem Sending feature are going to be released next week. It is just part of colored gems system, the overall gemwallet including colored gems and bigeminization/forging. This last point will be the next implementation to be carried out. |
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iampingu
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February 23, 2014, 02:31:16 PM |
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So, why would I split my bit gems into seperate gems? To pay to other bit gem wallets without having to transact into BTC, knowing the exact price of what I'm sending?
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mineral (OP)
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February 23, 2014, 03:36:55 PM |
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So, why would I split my bit gems into seperate gems? To pay to other bit gem wallets without having to transact into BTC, knowing the exact price of what I'm sending?
I too am confused on the purpose of the system. I believe I understand how it works, but I'm not sure exactly what the point is or what advantage it offers an end-user. Colored coins define user-oriented currencies allowing some additional features. This is the case of Gem Sending feature as a previous step to a full colored coin system with forging/mixing of gems managed by user. You have the option of splitting (aka forging ) BTG into DMD, RBY, SPH or EMD or you can just send BTG. This is your choice. Forging gems is really an amazing property that you can benefit because it enables the possibility to define as many colored gems as possible settings there. The benefits are obvious as you can trading with your preferred commodity embodying 4C's model properties as it was user-defined. If you are not confortable with colored gems, you can always to use BTG non-colored part; this is the point, non-colored and colored gems coexist and it lets so much freedom as user wants. |
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novaboy2k
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February 23, 2014, 04:04:12 PM |
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So, why would I split my bit gems into seperate gems? To pay to other bit gem wallets without having to transact into BTC, knowing the exact price of what I'm sending?
I too am confused on the purpose of the system. I believe I understand how it works, but I'm not sure exactly what the point is or what advantage it offers an end-user. You could use diamond - 1 carat - j color - vvs2 clarity - good cut... as say mortgage contracts. diamond - 2 carat - j color - vvs2 clarity - good cut... as say gold contracts. diamond - 2 carat - e color - vvs2 clarity - good cut... as say silver. So on so on. BTG can be used to create 1000s of different contracts. If mineral can achieve these things btg will get allot of interest. This is my basic understanding of the gem system. |
Darkcoin, the only fungible crypto currency.
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mineral (OP)
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February 23, 2014, 07:20:08 PM |
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So, why would I split my bit gems into seperate gems? To pay to other bit gem wallets without having to transact into BTC, knowing the exact price of what I'm sending?
I too am confused on the purpose of the system. I believe I understand how it works, but I'm not sure exactly what the point is or what advantage it offers an end-user. You could use diamond - 1 carat - j color - vvs2 clarity - good cut... as say mortgage contracts. diamond - 2 carat - j color - vvs2 clarity - good cut... as say gold contracts. diamond - 2 carat - e color - vvs2 clarity - good cut... as say silver. So on so on. BTG can be used to create 1000s of different contracts. If mineral can achieve these things btg will get allot of interest. This is my basic understanding of the gem system. that's the idea. REally there are near to "infinite" "user-defined" contracts, intending as hard commodities forged with determined settings. Hard commodities are the ones that are extracted through mining, what is just the case of gems. Using novaboy2k metaphore, each <gem_type, carat, color, clarity, cut, shape> tuple depicts an user-defined contract, being each tuple exactly a colored gem. |
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skywave
Sr. Member
 Offline
Activity: 420
Merit: 250
"to endure to achieve"
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February 23, 2014, 09:30:42 PM |
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hmm - I'm also trying to get my head around this. So if I then create e.g. a special diamond with high specs in cut, clarity, shape etc - how do I send that specific one to another wallet? And will the owner of that other wallet then be able to convert this diamond into something other in his wallet - or why would he? It's very complex - but maybe I will eventually understand it  |
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novaboy2k
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February 23, 2014, 10:21:30 PM |
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hmm - I'm also trying to get my head around this. So if I then create e.g. a special diamond with high specs in cut, clarity, shape etc - how do I send that specific one to another wallet? And will the owner of that other wallet then be able to convert this diamond into something other in his wallet - or why would he? It's very complex - but maybe I will eventually understand it Good questions! |
Darkcoin, the only fungible crypto currency.
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mineral (OP)
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February 23, 2014, 11:32:13 PM
Last edit: February 26, 2014, 02:57:18 PM by mineral |
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hmm - I'm also trying to get my head around this. So if I then create e.g. a special diamond with high specs in cut, clarity, shape etc - how do I send that specific one to another wallet? And will the owner of that other wallet then be able to convert this diamond into something other in his wallet - or why would he? It's very complex - but maybe I will eventually understand it Really you do not have to worry of setting or mode (color/non color) used at destination address, it is done programmatically by means of: 1) shared address space : BTG, DMD, RBY, SPH and EMD share the same address scheme. This property of colored coins lets to delay the computing of net coin spending at the moment of tx processing. 2) refunding <=> forging process: gems are packed into BTGs just when you send a tx. It is similar to TCP/IP stack, where you send bits in phisical layer, but you are receiving an HTTP response in Application Layer at the same time. When you recieve an incoming tx, gems are refunded and forged again and process is repeated again. Note: when we say DMD, RBY, SPH and EMD we are referring to colored gems within of BTG blockchain. |
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novaboy2k
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February 24, 2014, 01:22:52 AM |
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So say if someone would send me 1 diamond at 1 carat, i would then receive that 1 diamond which is automatically then transferred back to Bitgem?
How would i attach a contract to that, if it cancels the diamond back to btg?
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Darkcoin, the only fungible crypto currency.
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mineral (OP)
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February 24, 2014, 02:15:48 AM
Last edit: February 26, 2014, 02:57:36 PM by mineral |
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So say if someone would send me 1 diamond at 1 carat, i would then receive that 1 diamond which is automatically then transferred back to Bitgem?
How would i attach a contract to that, if it cancels the diamond back to btg?
If sender cancels tx, diamond will go on forged as before. If tx goes on, you would receive the same diamond refunded into bitgems, ready for being forged again. This is the trick, it can be re-forged as often as desired. Somehow, refund-forge process provides the malleability of gems not present in physical gemstones. |
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novaboy2k
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February 24, 2014, 03:03:24 AM |
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Yes more information you give the more i understand. Thanks.
I look forward to reading your whitepaper, this will give me and others interested in BTG a broader understanding of how the system works.
These questions will arise on first glance of BTG, but if we keep these questions coming, people can easily get more of an understanding by reading these pages.
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Darkcoin, the only fungible crypto currency.
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novaboy2k
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February 26, 2014, 01:40:24 PM |
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Any news on the update mineral?
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Darkcoin, the only fungible crypto currency.
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novaboy2k
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February 27, 2014, 04:51:50 PM |
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Darkcoin, the only fungible crypto currency.
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