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

[Sampey]

i'm donating 20% of Tax for each block against my will. Isn't enough? 

[myhoho]

i'm donating 20% of Tax for each block against my will. Isn't enough? 

You have huge early adopter premium. Probably it make sense to help coin to roll on.

[Sampey]

In all honesty, i hope this coin will hit an Exchanger, to sell all and make profit. 
I have told some reply back what i think about this coin and the dev strategy. 

[myhoho]

 No doubt, we need some improvements on managing side. Only 100% transparent management may help it survive. I've invested some bitcoins into this project because of some kind of innovative idea.
 that's just a miracle it's still alive. So, let's use this occasion.

[sphere]

I have updated the balance of reserved BTC to our website:
http://www.globecrypto.com/#where-are-taxes-going-to

Currently they look like this:

Reserved GLB Balance
Monitored by bcfanminer (GLB: 1Hb5woVrbnxdXzsthd9qhVvyND9JX2Vc3j):
1.00


Reserved BTC Balance
(BTC: 1ES5tS9y83iyXQAGrGdcnxLENgKTK6yXEe):
0.06

Since we have address confirmed I will send remaning 50% reserves here is a break-down

38550 blocks
-650 GLB ( converted into BTC)
= 37900

So i will send half of this = 18950

Thanks

[sphere]

So guys what do you think about this idea ?


Hey Globe community,

I just came up with an idea that might help completely de-centralize the reserve and price stabilization system. Not sure if this would work in practice but what if we cold-store all the reserves, encrypt the private-keys with a password and send them as a message in the block chain. Would this work? I think the difficult part would be trying to send it into the block-chain and not quite sure how this would be done.


Thanks

[myhoho]

 I believe most interested miners here have to find local coworking spaces and try to convince them to play with Globe.
 This coin is not innovative on technical side, but it be succesful if it targets businesses directly.

[sphere]

I believe most interested miners here have to find local coworking spaces and try to convince them to play with Globe.
 This coin is not innovative on technical side, but it be succesful if it targets businesses directly.

Hi, you are correct. My aim is not to build a cryptocurrency that is technically very different because I think Bitcoin itself covers most of that but to make it economically viable for mass use.

[sphere]

So guys what do you think about this idea ?


Hey Globe community,

I just came up with an idea that might help completely de-centralize the reserve and price stabilization system. Not sure if this would work in practice but what if we cold-store all the reserves, encrypt the private-keys with a password and send them as a message in the block chain. Would this work? I think the difficult part would be trying to send it into the block-chain and not quite sure how this would be done.


Thanks

[myhoho]

Hi, you are correct. My aim is not to build a cryptocurrency that is technically very different because I think Bitcoin itself covers most of that but to make it economically viable for mass use.

 So, get up and involve some businesses in your location to show us a  real example .

[sphere]

Hi, you are correct. My aim is not to build a cryptocurrency that is technically very different because I think Bitcoin itself covers most of that but to make it economically viable for mass use.

 So, get up and involve some businesses in your location to show us a  real example .

Yes sir 

[bcfanminer]

So guys what do you think about this idea ?


Hey Globe community,

I just came up with an idea that might help completely de-centralize the reserve and price stabilization system. Not sure if this would work in practice but what if we cold-store all the reserves, encrypt the private-keys with a password and send them as a message in the block chain. Would this work? I think the difficult part would be trying to send it into the block-chain and not quite sure how this would be done.


Thanks

I didn't quite understand this idea. Do you mean just send a message with encrypted private-key with a password to some address? then the transaction with the message will be stored into the block chain?
If doing this, you will open your private key to the world. If someone hacks your password, then the reserved money will go along the wind.
And this has nothing to do with de-centralization.

Feel free to correct me.

[bcfanminer]

As a matter of principle I still send a couple Globes your way .

Just as said before, you don't need to send me GLBs for the domain and host staff.
The domain and simple hosting can be considered as my donation to the GLB community.

If you still want to send some GLB to me, 1 GLB is enough.

[atta2k15]

I have updated the balance of reserved BTC to our website:
http://www.globecrypto.com/#where-are-taxes-going-to

Currently they look like this:

Reserved GLB Balance
Monitored by bcfanminer (GLB: 1Hb5woVrbnxdXzsthd9qhVvyND9JX2Vc3j):
1.00


Reserved BTC Balance
(BTC: 1ES5tS9y83iyXQAGrGdcnxLENgKTK6yXEe):
0.06

Superb, good work guys!  

[sphere]

Ok. Sending 20,000 I know its slightly above 50% but its a good round number and will average out to 50% in the coming days anyway. 

[sphere]

So guys what do you think about this idea ?


Hey Globe community,

I just came up with an idea that might help completely de-centralize the reserve and price stabilization system. Not sure if this would work in practice but what if we cold-store all the reserves, encrypt the private-keys with a password and send them as a message in the block chain. Would this work? I think the difficult part would be trying to send it into the block-chain and not quite sure how this would be done.


Thanks

I didn't quite understand this idea. Do you mean just send a message with encrypted private-key with a password to some address? then the transaction with the message will be stored into the block chain?
If doing this, you will open your private key to the world. If someone hacks your password, then the reserved money will go along the wind.
And this has nothing to do with de-centralization.

Feel free to correct me.

Ok, I will try and better describe it. To my knowledge ( Im still looking this up) you can place messages into the block-chain via a transaction. Once this message is placed everyone on the network will have a copy of this message.

So my idea is as follows. If we encrypt the private key using a strong form of encryption and strong password and place it into the block-chain. Everyone on the network will have the reserves stored in their block-chain but they will not be able to access the private key as the message can't be de-crypted without the password.

Certain trusted individuals will know the password to de-crypt the message and get the private key. This way we do not need to rely on any computers or servers as it will be stored on the block-chain and we can view the encrypted message via a block-chain viewer.

I agree that this does have the added risk that someone might un-encrypt the private key but if we use a strong password and strong method of encryption the key It will take a very long time to crack without the password ( I have been doing some reading and a mix of good encryption and complex password means it could take centuries to crack a message or file) . Please correct me if I am wrong  

In the future scripts could be built to help automate the reserve (Exchange API to buy and sell etc) this way we would not even need to know the private-keys as the scripts would handle all the trades.

We would not rely on individual machines but on the entire network. Is this not a more de-centralized method of keeping the reserve  ?

[sphere]

20,000 GLB has been sent to bcfanminer to keep in his reserve.

An additional 1 GLB has been sent in exchange for all he has done for the community  

[atta2k15]

just an idea...

Perhaps an better idea is to put the wallet on a separate VPS,
and make a shell script for all admin users controlling Globe.

Next to this script sent an email to all users a login has taken place.

On this script, for every user an password can be given in.
(every user has to login and run the script)

1. The script will make an md5/sha2 of the password, and append it to 1 file. ex. <username>.password
like

password=....

2. the script will never encrypt if length of password isnt the length of all passwords combined.

the content of the line 'password'= (combined of all <username>.password files) will be the password of the encrypted wallet.dat
The script should be able to encrypt/decrypt the wallet.dat using the external files mentioned in 1.)

After wallet usage,
every user should supply a new password for the next encryption of the wallet.

this way, everyone has knowledge of wallet access, because not 1 user is possible to open the wallet.


ex. Menu for script

[ User #1 has filled in password. ]
[ User #2 has filled in password. ]
[ No users has filled in password. ]

Choose:
1) user #1 setup password
2) user #2 setup password
3) encrypt wallet *
4) decrypt wallet *

* after decryption/encryption the <username>.password files of all users will be deleted.

[atta2k15]

but if one of the admins dies, the wallet will be useless... 

[sphere]

but if one of the admins dies, the wallet will be useless... 

True. Plus users have mentioned a VPS is not secure