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[rafzalan]

For who find this project interesting:
ATM you can buy 2500 BCPT for 1 ETH, and this is much lower than 50% bonus in first round of pre-sale (1500 for 1ETH) and lower than private sale (2000 for 1ETH)
https://etherdelta.com/#BCPT-ETH

[dr_thuytien]

I am waiting for the fourth quarter of the year, when Mobile data browser might be released as the roadmap mentioned. Please keep up your good work, devs.

[rafzalan]

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28 OCTOBER 2017
Centralized is BADDDDD!!!! ...right?
Overview
Centralized apps are bad. Everyone knows this: if you want your blockchain idea to sound good, you just say that's its decentralizing something. Money, funding, love...you name it, it should be decentralized!

Well, a key component of our initial Fiddy (Friend in Debt) implementation is centralized, and we think that's a good thing.

But is that true? What if some aspects of decentralization that are useful, but others are useless or actively harmful?

What Blockchains Are Good for
It's important to understand what blockchains, in their current form, are good for, and what they don't do well.

Blockchains are awesome at taking processes that required bureaucracy to guarantee storage and trust, and offloading those while keeping the same guarantees. They also excel at simplifying processes that require lots of human mental effort to track or monitor.

Our Needs
Fiddy (and Credit Protocol) needs both of those features. People either offload tracking of money and debts to banks (bureaucracy guaranteeing storage and trust), the cloud (mental effort), or pen-and-paper (mental effort). By both recording debts on the blockchain and requiring both parties to confirm the debt, Fiddy takes advantage of the best features of the blockchain.

However, large public blockchains suck at speed and cost. And if we want people to use Fiddy, we need speed and low cost, otherwise we'll just have an ideologically pure app that no one gives a shit about.

The solution we've chosen is an architecture that makes certain decentralized guarantees for Fiddy, and then puts the rest of the information in centralized systems.

Guarantees Fiddy Makes
All debts are recorded on the blockchain
All Eth addresses that created those debts are recorded on the blockchain
Memos saying what the debt is for are recorded on the blockchain
Both users must have cryptographically signed in order for the debt to exist
If everyone from BlockMason died in a plane crash tomorrow (or a freak gardening accident, or any type of disastrous event, really), users could recreate all data from Fiddy and keep going as if we had never existed
How Fiddy Uses Centralization
Fiddy centralizes all operations that are short-term, and don't form part of the permanent debt record. The main portions of that are:

Friend requests between users
Pending debts and friendships
Holding debts that are signed by one party until the other party signs or rejects the debt
Notice that all of these operations are essentially temporary, and also ones that users don't want or need to pay for. By centralizing them, we create a much smoother user experience, while preserving all the key features of decentralized, trustless debt recording.

Final Thoughts
Most dapps will have this pattern: a high-value, decentralized core, with lots of centralized infrastructure around it to make it accessible and clean for end-users. It's important to understand exactly what the key value propositions of your dapp are: the design will flow directly from that understanding and analysis.

If you like thinking about the boundaries between centralized and decentralized systems, you should join our Telegram and yell about things you want to see in future blog posts. I'll probably make fun of you for yelling, and then write about those things.

Timothy Galebach
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Sunday Funday: Art and Other Things

Something a little lighter for the weekend before the product and hiring announcements start up next week... Stickers 97.4% of crypto action happens on Telegram, and we want to provide the stickers

TIMOTHY GALEBACH
Fiddy Updates

BlockMason is making a ton of progress on our first app on top of the credit protocol, Fiddy (Friend in Debt), and I just wanted to update you on exactly where we're at.

TIMOTHY GALEBACH
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[rafzalan]

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30 OCTOBER 2017
Sunday Funday: Art and Other Things
Something a little lighter for the weekend before the product and hiring announcements start up next week...

Stickers
97.4% of crypto action happens on Telegram, and we want to provide the stickers that drive the experience and build up hype across chats.

We're having artists work in their spare time on this, and now have a big pack of Mason stickers that we're going to release next week. They're a bit goofy, but it's an easy way to spread the word about the project.

We also want your ideas: tell us in chat about all the stickers you want, no matter how wacky they are, and we'll make them happen if they make Tim laugh.

2017-10-30-08.08.20

Comics
Also as a fun thing in our downtime, we're preparing a more narrative series of comics in the style of Calvin and Hobbes meets Rick and Morty. It's still in the planning stages, but the initial story arcs will be happening quite soon.

This Week
We've finished interviewing and testing a couple new hires in programming, corporate structure, and operations/admin. We'll be announcing everyone over the next few days as we finalize the terms of their employment. Really excited!

Timothy Galebach
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Centralized is BADDDDD!!!! ...right?

A key component of our initial Fiddy (Friend in Debt) implementation is centralized, and we think that's a *good* thing.

TIMOTHY GALEBACH
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[rafzalan]

Wonderful idea plus active development, this token will be the best of 2018.
Only buy and hold.

[rafzalan]

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31 OCTOBER 2017
How Do Credit Protocol Tokens Work With Apps?
Since the first mainnet example apps are about to go live, I figured this would be a good time to explain how tokens work, and how app providers can acquire and use them.

Token Usage
Tokens are staked to a UCAC
Each token gives a certain number of transactions per hour
A transaction is a write operation (updating the balance of a debt between two parties)
The number of tokens needed to do a transaction can be updated by BlockMason currently -- in the future, we will make this community or market-driven
Tokens are not "burned" when used, they simply have to wait an hour to be usable again
Token Staking
Tokens can be staked by ANYONE who owns tokens
Tokens are staked to UCACs
UCAC operators can choose to reward stakers if they want (example code for that coming soon)
Staking actually transfers tokens to the Credit Protocol contract (to prevent double-spend), but they can be returned to users at any time
How Do You Get Tokens for Apps?
Have them from the ICO sale
Buy them from someone else in a private sale or on a secondary market
Receive them in an airdrop (details to follow)
We at BlockMason are excited to see this all goes, and we are going to monitor early usage of tokens quite closely to figure out the best mechanisms for balancing the Credit Protocol ecosystem going forward.

Timothy Galebach
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Sunday Funday: Art and Other Things

Something a little lighter for the weekend before the product and hiring announcements start up next week... Stickers 97.4% of crypto action happens on Telegram, and we want to provide the stickers

TIMOTHY GALEBACH
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© 2017
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[rafzalan]

Very good explanation of bcpt usage, we need to know the ether part.
I think user should pay ether to stake bcpt, and may also pay for each transaction, but transactions need both parties signature, what if one pay for transaction but the other do not sign it?

[rafzalan]

Do you think friends are willing to write their debts on block chain?
Looks a bit unfriendly.
But using a kyc service and some bcpt anyone chould borrow some money from block mason community. Ok?
Interesting

[manolentor1492]

When more exchanges? bittrex, cryptopia? i see only ehterdelta and volume is down.

[rafzalan]

When more exchanges? bittrex, cryptopia? i see only ehterdelta and volume is down.

There is an announcement about being on shapeshift.

[rafzalan]

Today volume have significantly increased, now bcpt have the first rank on ED:
https://coinmarketcap.com/exchanges/etherdelta/

[woodkid]

Today volume have significantly increased, now bcpt have the first rank on ED:
https://coinmarketcap.com/exchanges/etherdelta/

Yeah, i've seen that too. Looks like it's going up short term.

[fightingflask]

why do you need blockchain for this project?

[rafzalan]

why do you need blockchain for this project?

My idea in a sentence:
BlockChain help us working with cash, in the same manner it could help creating, moving and spending credit.
Even in the case of credit it could be more helpful because we have many off chain tools to work with cash but it is not true when dealing with credit.

[rafzalan]

what platforms do you use on your token?

It is on Ethereum. tradable on EtherDelta.
Dapp will be on mobile (both android and ios)
First one will be launched soon (https://github.com/blockmason/fiddy-mobile)
Before it, a web based version is developed using meta-mask, but they decide to switch to mobile (http://announcements.blockmason.io/why-were-going-mobile/)

[rafzalan]

Will be a AMA session with blockmasons on telegram.
https://www.timeanddate.com/countdown/generic?iso=20171107T14&p0=377&msg=Blockmason+Ask+Me+Anything&font=cursive

[timblockmason]

AMA is here:

https://www.reddit.com/r/blockmason/comments/7bf5bd/blockmason_ama_with_timothy_galebach_and_michael/

[rafzalan]

AMA is here:

https://www.reddit.com/r/blockmason/comments/7bf5bd/blockmason_ama_with_timothy_galebach_and_michael/

"First product's mobile app and server are finished internally, and we're testing now to get it in your hands in 5-14 days."

[manolentor1492]

It will be nice to see how we grow together, the app will surely be magnificent and will cover a lot of financial markets full of bureaucracy and that will create the need to use bcpt by all, greetings.

[stek33]

what was the ICO price?