[ANN] [GLB]Globe – One Currency for One Globe - Polished and Ready for Action

[maardein]

Ok, I don't want to be to pessimistic, but as it looks now Globe is going to fail. The volume on poloniex is only 0.08 BTC in 24 hours, and the highest current buy is at 1700 satoshi. Don't you think it is time for the price stabilization to kick in?

I think Globe has another chance, if we start spreading the word now. We need to get more active on twitter. We need to spam the poloniex trollbox about Globe. If we coordinate this with the price stabilization, I think we could have another chance. I also think we should really try to get on coinmarketcap. People are looking there, trying to decide what coin to invest in. If we are on coinmarketcap, and we all buy some, together with price stabilization, price will increase tremendously, and it will be on top of the %increase list of coinmarketcap.

Otherwise, I think Globe is doomed to fail.

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[sphere]

Ok, I don't want to be to pessimistic, but as it looks now Globe is going to fail. The volume on poloniex is only 0.08 BTC in 24 hours, and the highest current buy is at 1700 satoshi. Don't you think it is time for the price stabilization to kick in?

I think Globe has another chance, if we start spreading the word now. We need to get more active on twitter. We need to spam the poloniex trollbox about Globe. If we coordinate this with the price stabilization, I think we could have another chance. I also think we should really try to get on coinmarketcap. People are looking there, trying to decide what coin to invest in. If we are on coinmarketcap, and we all buy some, together with price stabilization, price will increase tremendously, and it will be on top of the %increase list of coinmarketcap.

Otherwise, I think Globe is doomed to fail.

Ok listen up people Its nearly been three months. Drastic times calls for Drastic measures.

I think one of the biggest things holding us back is the reserves and price stabilization. People view it as "half" done and not willing to invest. I will therefore be scrapping the two. I will use the funds for a couple giveaways and the BTC to get some liquidity going in the exchanges. Essentially this will join the dev tax.

This will hopefully free us from the shackles and allow us to just advertise,advertise and advertise.


So at this point you are probably wondering, wait does this not make Globe just another copy and paste coin?

Well no will still have a central entity constantly build-upon and evolving Globe to make it they next global currency.

I think a lot of people where confused by the whole reserve and stabilization idea. Hopefully, this will clear up the air and we can start adverting Globe as they only evolving cryptocurrency.

What I mean by "evolving" is Globe will be they only crypto with a central entity advertising and agilely modifying its code-base to meet market conditions and be they next global currency.


I hope you don't see this as me trying to runaway with all the funds but as a new Globe, a Globe that is agile and does what it needs to survive and prosper. I will not touch the funds in the reserves and price stabilizers for a day or two just in-case you guys completely disagree.

I hope this will be a turning point for our Crypto and we will start to see some growth. I will need your help in spreading the word and will make an announcement once the funds have been transferred, website modified and forum post cleaned.


Thanks
Sphere

[sphere]

I disagree.  I would leave all the funds in the reserve - and transfer the PSM to reserve also.  This is the only "unique" difference between Globe and other coins.

Globe is fundamentally destined to succeed - you just need at least 6 months of patience, to be able to build enough supply.  We only have just over one million coins out...   I suspect that Globe will be an "overnight" success, two years in the making.

Don't make drastic changes in a time where the wind of uncertainty is currently blowing over ALL alt-coins, including LTC, and its last fab; DOGE.  Even at a price of 0.016 mBTC this morning, Globe was still mining at 1.4 BTC profitability.  Which is way better than most ASIC coins that find it hard to pass the 0.6 mark; BEN, UNO, XJO, ZET, DEM....   Volume is low on all crypto-currencies (including BTC), and have been low for the last few weeks due to the MtGox debacle.  When prices are low, they are perfect conditions for mining, buying and accumulate currencies!   Would you prefer to buy and mine when the prices are high and you would have to share each block with thousands of people?  I didn't go into Globe just for a quick "get rich - pump and dump" scheme... 

We can already see the volume going back up on BTC today, from an average of $15M per day, just a few days ago, now reaching $80M per day.  Just hang in there!

But, if you all want to do a fire sale of your Globes... be my guest, you will make some happy buyers!  

I appreciate your support but I think the stats speak for themselves. Our hash for a sha-256 is coin is pretty poor, our market cap is poor, our price is very low considering supply and trade volume is a joke even when compared with other alt-coins.

I may at some point bring back the reserves and stabilization but their is a hell lot more stuff I want to do before this.

I think we simply had too many USPs for people and they got confused.

Our USP now is very simple "We are an evolving cryptocurrency doing whatever we have to do, to become they global currency"

The fact we are scrapping these two features shows us we are agile and doing what we need to do, in order to grow and prosper.

I hope you will support continue to support Globe and really help us propel us forward in our new skin.


Thanks
Sphere

[sphere]

Our USP now is very simple "We are an evolving cryptocurrency doing whatever we have to do, to become they global currency"

The fact we are scrapping these two features shows us we are agile and doing what we need to do, in order to grow and prosper.

Thanks
Sphere

Then, please explain how depleting the current reserve and PSM, and giving the GLB away freely, will help increase its price... I don't understand.  To me, it is like dumping a large quantity on the market at once.  Never a good idea, in any circumstances.

I am sorry, but when I hear: "doing whatever we have to do"  - It doesn't sound like a plan to me at all - but rather like a meaningless (and desperate) statement.  Like I said before, doing more novel marketing, yes.   But getting rid of your own identity - just to "fit-in" and be a copy-cat - not sure about that...   That kind of thinking reminds me of Microsoft management, not Apple's.

It is always tempting to go the easy way, but never rewarding.

Hi,

Their will be no dumping. I don't quite understand what you mean when you say "dumping" Im not taking the GLB in the reserves and PSM and shoving them on the exchange.

The strategy is simple. Getting rid of the PSM and reserves will help us gain increased investment. People see Globe with these features to be half built. People don't want to invest in half built products.

We do have an identity we are they only crypto that is going to keep evolving, adding features and advertising unlike any other within the industry. Most cryptos get released any do not get new features built. Look at Bitcoin : Has it changed much since satoshi? No.

Infact much like Apple, Globe is will keep launching features and keep adverting in such as way that we stay ahead of the competition and become the global currency. While Microsoft stands in the corner providing poor advertising and products with poor features, Apple launches really amazing products with phenomenal advertising. In this case Globe is then much like Apple. 

Do see what I mean?

[sphere]

Their will be no dumping. I don't quite understand what you mean when you say "dumping" Im not taking the GLB in the reserves and PSM and shoving them on the exchange.

The strategy is simple. Getting rid of the PSM and reserves ...

If you are not "dumping" them on the exchange, there where will the Reserve and PSM go?   If it is for Giveaways, to me it is like dumping them on the exchange.  So where will the GLBs go? Details please, those funds don't belong to you.

We have been mining GLB for 3 months now - knowing that 10% was going for a cause that we liked - the Reserve and PSM - even if we didn't know really what it ment then, or how it will be implemented.  Those GLB belong to all of us who mined this currency.  We mined faithfully, knowing that those funds would not be touched.  And now, you want to change the rules, unilaterally.  You can't just "give them away" like this, or whatever is the "new" paradigm, without everyones consent.  Again, still not clear to me "where" they will go....

You haven't answered my question still:  When you came up with the idea of a Reserve, what did you have in mind then, how can this concept benefit a currency?  I am sorry, but I have have never be explained that part.  Maybe that is why people don't understand Globe.  If that was explained better, maybe Globe would be better understood.  Isn't it the purpose of a marketing fund to explain the advantages of a product to the users?  Giveaways is just the easy part of a marketing campaign - to attract attention.  But once you've got the attention, you have to go further and expose why your product is better than another.  I don't think we haven't done the later in a satisfactory manner.  Until then, all the giveaways, or all the billboards of the world, won't do much more than what we have now - unless we can explain why we are better.  I believe that is the urgent thing to do - not to change the rules.

Hi,

The GLBs will be donated and used for giveaways I don't intend to keep them simply because I don't want that sort of power.

OK, so long ago Gold was used as money. Later governments pegged their currencies to gold. Basically, for every dollar their was X amount of Gold in a reserve some where. You could actually go and convert your dollar to X amount of gold.

Later during the 1930s depression. Governments around the world realized that this system did not work, essentially using gold and gold pegged system is deflationary. Deflation worsens economic downturns and can cause liquidity problems.

So since then Governments do not peg their currencies directly to gold or other valuable elements but they do have gold reserves and reserves of other countries currencies. With these reserves they can influence their own exchange rates, other countries exchange rates and effect credit rating of a country. In more basic terms makes the currency and economy behind the currency stronger.

I completely understand the 10% was not going to be touched... That is why I am waiting for the rest of the communities response and your opinion is only one out of many within the community. Others have indicated we need some fast changes to save Globe and I now agree. As much as I would like to keep the PSM and Reserves facts are facts and the ones in-front of us are telling us that Globe is not going to work if we keep it on the same path. I am certain these changes will really help propel us forward and someday I may one day  bring back the reserves and PSM but It seems to have turned into a pre-requisite for our success in the eyes of many, something I do not want.

I need to do whats best for Globe and the Globe community even if you can't see it yet.  

[sphere]

Why I am still mining and buying GLB?  

This is how I look at Globe:

To me, the Globe Reserve is essentially the FIRST public investment fund ever created for crypto-currencies.  Every GLB (share) that I own, buys me a share of this crypto-currencies Portfolio. The beauty about the portfolio, is that its value will continue to grow - always!  First, because of a regular injection of new money into it, at every block. Second, by benefiting from the increase in value of the reference currencies, namely BTC and LTC.  So even if GLB is stable, BTC and LTC may go up and up and up.

Therefore, every Globe that I own, entitles me to be co-owner of an equivalent of 0.1 share of the fund.  So far, in the portfolio, there are investments in LTCs, BTCs and GLB.  There is nothing to say that we couldn't invest in others.  At todays exchange rates, the portfolio is valued at about $2000  - not much, you will say. But just wait until the end of 2014... when BTC, LTC and GLB prices will go up, and more liquidity is added by the tax on mining - it could easily reach $20 000 by the end of the year.   Each GLB is like a share of this fund, like if I would own shares of Apple or Microsoft.  It has value. 

The beauty about the fund, is that it will never be liquidated! - so as it grows in value with the years, so will my shares and the value of each GLBs.  

Just stop, and think about it for a moment, and imagine the value of the fund in 10 years from now...  As long as the portfolio also invests in other currencies, the fund can only benefit.  

To me that is also the PSM mechanism - so I would agree to move the PSM fund to increase the Reserve.  Maybe we should also move some of the other 10% of tax (like the dev-team fund) to increase even further the level of Reserve, while we are still young.  Sphere, mentioned the difficulty he has to recruit a good dev-team at the moment.  We should use the opportunity to "borrow" temporarily from the Dev-team fund and allocate it the reserve to make it even more attractive.

See I agree with this view totally but the problem is 95% of the altcoin community don't and if we keep these features in place in their current form we will die. Over a very long period of time the value of each GLB will decrease, it's inflationary even with the reserves.

If you want to invest in a fund their are many, many funds out their just invest in one of them.

I think your viewing the GLB reserves too much like a fund or some bank holding assets. Like I said I agree with you on the beauty of the reserves and PSM but at the moment its pretty half baked and we need to get a foundation of feature built before we tackle something like this.

The statistics in-front of us suggest immediate action needs to be taken and the reality is we need to take it fast and unfortunatly the beauty of the reserves or PSM does not change this fact.

[maardein]

I have to agree with nerioseole that by removing the stabilization and reserve, you essentially remove the unique features of GLB. This just makes it another BTC clone, with just a bit different marketing.

I think removing the price stabilization is probably a good move, since is is quite hard to have objective criteria for how and when to use this money. So I would vote for removing the stabilization part, and transferring all funds to the reserve. I would thus keep the reserve, but it has to be made very clear what the purpose of this reserve is, and when and how it will be used.

Maybe we could implement the traditional system of a backed currency, where people can actually claim what belongs to them. So, it would be made possible to exchange GLB for a proportional part of the BTC reserve. For example, if the reserve is 1 BTC, and I want to exchange 50 GLB at the moment that the total amount mined is 1000 GLB, I would get 0.05 BTC. After this transaction, the exchanged GLB should be destroyed (sent to an address which doesn't have a private key).

It could be implemented otherwise as well, but my opinion is that the reserve should stay, and it should be worked out how this reserve will be used.

Then, how to proceed? Well, the tax is 20%. Half of that went to the reserve/stabilization, the other half went to a development/advertising fund. Why can't this part of the tax be used to, well, advertise? Or has this part been spent already? Currently there is around 2.1 BTC and 65000 GLB in the reserve+stabilization together. A similar amount should be in the dev/advertising fund right? That should be enough to buy some blog posts, tweets, fb posts and poloniex trollbox spam. Maybe busoni is even in for some small scale advertising (small banner between markets and trollbox would be great...)?

[sphere]

I don't think we will become another bitcoin clone with cool advertising.

As new features are launched, maybe not as revolutionary but unique none the less you will see slowly see Globe break apart from the competition and excel. One small feature and another and another slowly you will see Globe get ahead the competition.

I know change is hard but I think we need it.

[maardein]

I don't think we will become another bitcoin clone with cool advertising.

As new features are launched, maybe not as revolutionary but unique none the less you will see slowly see Globe break apart from the competition and excel. One small feature and another and another slowly you will see Globe get ahead the competition.

I know change is hard but I think we need it.

So why exactly would Globe be more capable or likely to include new features than any other altcoin?

[sphere]

I don't think we will become another bitcoin clone with cool advertising.

As new features are launched, maybe not as revolutionary but unique none the less you will see slowly see Globe break apart from the competition and excel. One small feature and another and another slowly you will see Globe get ahead the competition.

I know change is hard but I think we need it.

So why exactly would Globe be more capable or likely to include new features than any other altcoin?

Hi,

Ok so, normally you are dependent on a single developer maybe a group of developers if your lucky to maintain and add new features.

The alt-coin community expects them to simply donate time with no real incentive. Even if they pre-mined it is not an on-going incentive.

Well Globe their is an incentive ( ongoing tax) . We can convert GLB to BTC or offer GLB to developers to develop features and maintain the crypto.

Over the long run you could hire full-time people solely working on the project.

No other crypto will be effectively able to do this. Even Bitcoin a crypto with nearly $10 billion market cap relies on a bunch of contributes donating their spare time, who don't evolve it and add features for it to succeed.

Lets not forget the transaction malleability issue. It took them a very long time to fix it. If you where paying a group of devs to prevent things like this it would be much less likely to happen and if it did happen with money you could employ people to work round the clock to fix it.

I guess what I am trying to say is asking devs to donate time will not get new features built and bugs fixed as well as when you have a full paid team.

Don't get me wrong the best we can do ATM is just offer a couple bounties for some features but maybe someday we could have a full time employed Globe dev team building features maybe even a decentralized reserve or price stabilizer.

Thanks
Sphere

[maardein]

I don't think we will become another bitcoin clone with cool advertising.

As new features are launched, maybe not as revolutionary but unique none the less you will see slowly see Globe break apart from the competition and excel. One small feature and another and another slowly you will see Globe get ahead the competition.

I know change is hard but I think we need it.

So why exactly would Globe be more capable or likely to include new features than any other altcoin?

Hi,

Ok so, normally you are dependent on a single developer maybe a group of developers if your lucky to maintain and add new features.

The alt-coin community expects them to simply donate time with no real incentive. Even if they pre-mined it is not an on-going incentive.

Well Globe their is an incentive ( ongoing tax) . We can convert GLB to BTC or offer GLB to developers to develop features and maintain the crypto.

Over the long run you could hire full-time people solely working on the project.

No other crypto will be effectively able to do this. Even Bitcoin a crypto with nearly $10 billion market cap relies on a bunch of contributes donating their spare time, who don't evolve it and add features for it to succeed.

Lets not forget the transaction malleability issue. It took them a very long time to fix it. If you where paying a group of devs to prevent things like this it would be much less likely to happen and if it did happen with money you could employ people to work round the clock to fix it.

I guess what I am trying to say is asking devs to donate time will not get new features built and bugs fixed as well as when you have a full paid team.

Don't get me wrong the best we can do ATM is just offer a couple bounties for some features but maybe someday we could have a full time employed Globe dev team building features maybe even a decentralized reserve or price stabilizer.

Thanks
Sphere

Ok, you've got a point there. There still is the problem that if GLB ever becomes valuable, you will get the taxes anyway, so you would have to be very transparent how they are spent (so we can verify you are actually buying devs, and not expensive holidays ).

But where does that leave us now? I think we should come up with some sort of 'marketing plan'. We could spend some money on bounties, but only if they are really adding something. I also think this should be paid from the 'other 10%', and that for now at least the reserve should stay, with the funds from the price stabilization moved to the reserve as well.

I think, however, that marketing should start with some basic (free) things. It should be made sure we are on sites like coinmarketcap, it should be made sure that whenever there is a poll about 'which crypto will be big in 2014' or whatever, it is at least possible to vote for GLB. We should make sure that if there is a new exchange on which users can vote which crypto they want to have added, GLB is at least on the list. These are really basic thing, that are lacking at the moment.

[sphere]

Ok, totally agree with you on the marketing. Their is a long list of things we need to do. Unfortunately, I am only one person and prioritizing the tasks. If you want to help out I would be very happy.

I want to run the project almost like a private organization but naturally the interests of the so called organization will be aligned with the interests of Globe.

 I do agree that if and when Globe does become big, 20% will in real terms be a lot of money and we will need to make a judgment on reducing that when we hit that point


I still wish to get rid of the reserves and PSM simply to keep our USP simple as possible and to be able to advertise Globe as a polished and finished product.

Thanks
Spherr

[maardein]

Ok, totally agree with you on the marketing. Their is a long list of things we need to do. Unfortunately, I am only one person and prioritizing the tasks. If you want to help out I would be very happy.

I want to run the project almost like a private organization but naturally the interests of the so called organization will be aligned with the interests of Globe.

 I do agree that if and when Globe does become big, 20% will in real terms be a lot of money and we will need to make a judgment on reducing that when we hit that point


I still wish to get rid of the reserves and PSM simply to keep our USP simple as possible and to be able to advertise Globe as a polished and finished product.

Thanks
Spherr

Ok, I really need to go to get some sleep now, but I will think about what I can do to support Globe. I am glad that at least we are having a discussion now, instead of a thread with barely any activity.

I like your idea of how Globe could differentiate itself, but I still would be inclined to keep the reserve for now. It can always be scrapped later, but I think it's much harder to put it back one it's gone.

Also, just a general question, is it possible to reduce tax with a wallet update? Or is a hardfork needed?

[sphere]

We would need a wallet update and hard fork would occur.  I don't want to get generate a hard fork just for lower tax.

In the future if and when Globe has very high market cap and we don't need all the $$$ we could reduce it and add it to an update that would probably have many more features.

Anyway, don't think it will be too difficult to build a new reserve if we decdie that feature is needed. This issue is holding us back and need to get rid of it to attract investors.

[bcfanminer]

Hi sphere, nerioseole, and maardein,

First, thanks for your contribution to the future of Globe.
I agree with sphere that GLB needs some big changes, otherwise it might die.
I agree with nerioseole and maardein that reserves make GLB unique.

Here is my suggestion:
1. 10% Reserve and 5% Dev/Ad. Merge PSM funds to reserves. And keep the reserves (10%) and dev/ad (5%) taxes. Set the hard fork point to some block, e.g., 150000, so that pool operator and GLB owners have time to upgrade their wallet. If owners don't upgrade their wallet, the synchronization will stop at a particular checkpoint and a notification will ask owners to upgrade. If miners don't upgrade their wallet, their found blocks will become orphan. So the most important thing is to keep our mining pools upgraded. At this point, it is not a big deal for such change.
2. Reserves. The reserves are reserves. GLB owners could claim their GLB for BTC, if their GLBs are older enough. That is, if their GLBs were received, e.g., 10000 blocks, ago. This can prevent instant dumping. Also, their must be some limitation on the amount. The exchange rate is determined by (GLBs to be claimed)/(Total Mined GLBs)*Reserved GLBs.

By the way, don't be panic at this time. All ALT-coins are dropping these days. They will rise up again once people have their faith in cryptocurrencies again.
Three months also let the GLB community realizes that sphere is trustable to manage these reserves. So keeping the reserves is not a bad idea. If sphere insists to remove all taxes, then we can have a test. For example, you can set between xx and yy blocks, there will not be any taxes. After yy blocks, there will be xx% taxes for reserves and dev/ad. One-time code change is enough.

What do you think?
bcfanminer

[sphere]

I don't think the PSM and Reserves have in any way been a positive factor in our performance. Once we get rid of them I think you guys will see a much faster rate of growth. Like I said alot of people in the community feel these two ideas to be half-baked and I kind of agree once we get rid of them you will hopefully see an acceleration in our growth.

I totally agree that all alt-coins have faced price drops etc. but even then we are in a very bad position. Even when compared with all the other altcoins our trade volume and market cap is very very low. I'm not completely writing off the two features I just think their are many more features we can build to better Globe before we try and tackle something as complex as this.

So I hope I have your support and I hope that these two changes will really make a positive impact on the future.

I am not doing this due to some over reaction regarding the Mtgox debacle or the recent price crash. It's been three months and even before these incidents Globe was not doing well.

Thanks
Sphere

[zamot]

I see, you have heavy discussion about GLB.  Ok that is cool, but i thing there is an little major problem in which we are looking.
GLB must be seen from mass of people which are miners mainly from alt coins. How to do this ? GLB must be listed in www.coinwarz.com. If the people see that is constantly listen on the top with percentage 100%+or around 100% then we will get miners. When we get miners we will get volume and the price will also be stabilized. With more miners we need at least two additional pools. There were two in the past, but both are dead now (poolerino and ecoining). The only alive pool is suprnova which have some issues in last days.
Sphere, i think you should talk to some pool owners to add GLB into their pool environment. The best would be to add GLB into some switch pool. Sorry to mention that, but coinew.pw could be good start. There are pools, there is exchange and it could be good covered there.
I talked with captainfuture from coinex.pw time ago if they have plans to implement GLB into exchange. He told me that they have GLB on list.

That would be maybe the first to do, before you goes to reserves and giveaways. I am also not for giveaways, because this does not help GLB. Giveaway is ok when the coin is extremely young, but GLB is not anymore and now this giveaway will produce more dump then stabilization.

And nerioseole has right, all coins have problems now, because of the latest situation of Mt.Gox and other negative marketing of BTC.

This is how i see the current situation.

[sphere]

Already talking to some pool OPs.  .

 I have not made the decision regarding the reserves and PSM simply because of the mtgox incident or the issues facing bitcoin and alt-coins. We need to change and the stats have indicated this well before the incidents.

Plus with the reserves and PSM now out of the way I hope to really get Globe accepted and used in new places like coinwarz.  The giveaway will not be a tradional one, more details to come .

Not a fan of switch pools. They can seriously make the hash volatile and maybe even kill Globe. Unlikely due to our difficulty algo but possible none the less.

Thanks
Sphere

[maardein]

Sphere, I get the feeling that you have actually decided already decided what you are going to do with the RES and PSM, and that our opinion doesn't really matter.

About coinwarz/coinmarket cap etc, I have been following Premine (PMC) as well since the beginning, and the day we got listed on coinmarketcap there was a temporary 15x increase in price, which then went down to a 10x increase. The volume also increased around 10x however, and stayed there. Volume is what we need as well, price will automatically follow.

[sphere]

Sphere, I get the feeling that you have actually decided already decided what you are going to do with the RES and PSM, and that our opinion doesn't really matter.

About coinwarz/coinmarket cap etc, I have been following Premine (PMC) as well since the beginning, and the day we got listed on coinmarketcap there was a temporary 15x increase in price, which then went down to a 10x increase. The volume also increased around 10x however, and stayed there. Volume is what we need as well, price will automatically follow.

Hi,

Having slept over it I think I have made a final decision to scrap them. I have considered all your opinions and feel the drawbacks of scrapping does not out weigh the benefits.

Yep agreed volume is just as important as price and we need to get some volume going. Price may not necessarily follow but volume is what we need to attract companies and people to adopt Globe.