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

[sphere]

Thats really good ! Added to first page

EDIT: Also sent some GLB your way .

Can you upload a large version or maybe the psd file ?


Thanks
Sphere

Yay, Thanks

I'll upload the psd, don't have larger but I can do it if you want

Hi,

No problem, no need. The psd will be fine

By the way I think of making a GLB bounty page ? offering GLB for things that move the project forward . What do you guys think?

[successfulbob]

I have full faith in GLB and am getting tired of running my computer all day, so if someone wants to make a good offer of globe coins, I'd sell my 8GH+ Jalapeno for globecoins.  Feel free to send offers to successfulbob@gmail.com

Who knows, maybe I'll auction off several things for globecoin if people are interested

Thanks

-Bob

[sphere]

Hi,


Ok here is what I propose and how we change Globe.


1. Reduce tax the tax to 10% - get rid of price stabalization and reserve until we have them all developed and ready to function on the network this could be a future update.  

2. We can still have the 10% tax for us to keep developing features and advertise

3. We maintain a constant block figure. Instead of increasing 3% each year we keep it super simple and keep the rate constant.


Any views would be appreciated.

The biggest concern I have with this idea is that we would be temporarily deleting one of two Unique Selling Points of the coin. Stable price and backing up of the currency.

EDIT: actually I don't think these changes would be good ,  but would still like to have your views

[sphere]

I would like to share an idea with the GLB community.

Cryptsy is soon about to offer an escrow service to everyone. What if the GLB Reserve was moved permanently to Cryptsy, along with the Price Stabilization Mechanism fund.  Once the PSM code is approved, Cryptsy could operate the code directly from their exchange.  By given control of those two funds, we could gain three things:
1. Get listed on Cryptsy. 
2. Added security and piece of mind for the GLB community that the funds are held by a third party, and that they can't be accessed by the GLB dev-team or hacker.
3. Relieve the dev-team of any wrong doing, if something would happened to the fund in the future.

Not that I don't trust the dev-team - but as GLB becomes more popular, the same question will always be asked by newcomers: "what about if one of them runs away with the money?".  The dev-team could make as many deposits as required, but no withdrawals. The plan was to never have withdrawals of the Reserve anyway.  And the PSM was to be automated.

The rest of the tax could remain as it is at the moment, since it is used for promotion, and for dev-team support.

Cryptsy would also find their profit, as all the PSM trades would be done at home, and they could charge their trading fees to each one of them.  And they could charge a small "escrow" fee that will only grow with time, as more GLB are added to the Reserve.

Wouldn't that be a win-win situation?

This idea actually sounds pretty good but we would need to be in contact with Cryptsy to get something like this done. They are notoriously slow to react to PMs etc. Also this would make the system pretty centralized relying on Cryptsy which itself is not very reliable when it comes to server up-time etc.

I think we can get around the  "What if they run off with all the $$$" in the following manor. I think the best option would be to use the multi-signature address. I think someone mentioned this before. Basically its a way of needing multiple users to spend the funds. Google "multi-signature address bitcoin" to get an idea if you don't know what it is.

[Jdtmp4]

This looks like a very cool coin

[mingophoria]

I believe that "mingophoria" at suprnova.cc got the last block at 8 GLB (block 85259) - equipped with a 20 GH rig

and "et97ta" at ecoining.com got the fi

I believe that "mingophoria" at suprnova.cc got the last block at 8 GLB (block 85259) - equipped with a 20 GH rig

and "et97ta" at ecoining.com got the first block at 4 GLB (block 85260) - equipped with a 5 GH rig

I believe that this historical moment in GLB history should be rewarded with a special giveaway to both block finders - what do you think Sphere?

If both of those miners could come forward and give Sphere their GLB address - I have a feeling that Sphere will feel generous...

PS: I do have a screen shot of both pools showing the winners! (just don't know how to post it on this bloody forum...)

i saw my name..... lol... ^^

GLB : 1CfhU6xADgrVzkTbH9RnsgHEGHJMLMKd27

Hi,

Sent you a little something. Could et97ta please also provide his address

I believe that this historical moment in GLB history should be rewarded with a special giveaway to both block finders - what do you think Sphere?

If both of those miners could come forward and give Sphere their GLB address - I have a feeling that Sphere will feel generous...

PS: I do have a screen shot of both pools showing the winners! (just don't know how to post it on this bloody forum...)

i saw my name..... lol... ^^

GLB : 1CfhU6xADgrVzkTbH9RnsgHEGHJMLMKd27

Hi,

Sent you a little something.

Thanks a lot !!

[svebos]

Don't mean to be rude.
.
For those of you who wants to know the BTC profitability for any coins, while not on Coinwarz.com:

1.  Go to your Pool Statistics.
2.  Take the highest guy on the list, and divide the number of coins per day, by its GH/S mining rate.  Example:   3975 GLB per day / 125.6 GH = 31.6 GLB per day, per GH.
3.  Multiply the result of #2 above by your own GH/s rating.  This gives you your how GLB per day.
4.  Multiply the number in #3 with the best GLB/BTC offer on Poloniex.com - giving you the best BTC per day for your rig. 
5.  Check Coinwarz.com - if you put your own GH/s on top, you should get about XXX BTC per day for your rig.
6.  Divide result of #4 by #5.  You end up with GLB profitabilty compared to mining BTC.



   

Ecoining pool shows wrong mining rate because of halving mining block to aprox. 4 GLB per block. So overall mining rate is aprox. 1/2 GLB .

[maardein]

Hi,


Ok here is what I propose and how we change Globe.


1. Reduce tax the tax to 10% - get rid of price stabalization and reserve until we have them all developed and ready to function on the network this could be a future update.  

2. We can still have the 10% tax for us to keep developing features and advertise

3. We maintain a constant block figure. Instead of increasing 3% each year we keep it super simple and keep the rate constant.


Any views would be appreciated.

The biggest concern I have with this idea is that we would be temporarily deleting one of two Unique Selling Points of the coin. Stable price and backing up of the currency.

EDIT: actually I don't think these changes would be good ,  but would still like to have your views

I completely agree with you that this is a very bad idea. Price stabilization and reserve are the unique points of Globe, and are exactly the reason why I like Globe.

What you could do, but I think it's a little early for that, is reduce the amount for development and advertisement. If the coin becomes valuable and popular, less advertisement is needed. Also less Globe would be valued at the same amount of fiat, so less Globe would be needed to pay the devs. (Imagine bitcoin with 10% tax for dev/advertisement. This would have been reasonable when it started, but not anymore today).

Removing the inflation could be a good thing for the value of Globe, but of course there would be less Globe in total. The problem I have with inflating cryptocurrencies is that, contrary to fiat, you usually do not get interest on your 'savings'. So, your savings decrease in value every year, instead of staying more or less equal in value. This stimulates selling/using Globe, but does not stimulate long term support, or saving some for later use. So, I would say either keep the inflation, and add some kind of interest rate, or remove the inflation.

I would like to share an idea with the GLB community.

Cryptsy is soon about to offer an escrow service to everyone. What if the GLB Reserve was moved permanently to Cryptsy, along with the Price Stabilization Mechanism fund.  Once the PSM code is approved, Cryptsy could operate the code directly from their exchange.  By given control of those two funds, we could gain three things:
1. Get listed on Cryptsy. 
2. Added security and piece of mind for the GLB community that the funds are held by a third party, and that they can't be accessed by the GLB dev-team or hacker.
3. Relieve the dev-team of any wrong doing, if something would happened to the fund in the future.

Not that I don't trust the dev-team - but as GLB becomes more popular, the same question will always be asked by newcomers: "what about if one of them runs away with the money?".  The dev-team could make as many deposits as required, but no withdrawals. The plan was to never have withdrawals of the Reserve anyway.  And the PSM was to be automated.

The rest of the tax could remain as it is at the moment, since it is used for promotion, and for dev-team support.

Cryptsy would also find their profit, as all the PSM trades would be done at home, and they could charge their trading fees to each one of them.  And they could charge a small "escrow" fee that will only grow with time, as more GLB are added to the Reserve.

Wouldn't that be a win-win situation?

I don't think putting the reserve in the sole hands of cryptsy would be a good idea. Why wouldn't cryptsy or one of its employees run away with it, but the dev would? The idea op splitting it up between ~3 reliable exchanges could be a good idea, especially if this would mean the price stabilization could be automated.

On the other hand I also like the idea of a multi-sig address, but I haven't looked into the details of that system. What if, say, one of the persons who has to sign a transaction suddenly dies, and no one of his relatives even knows about Globe? Would it become impossible to ever spend the funds again?

[maardein]

By the way, why is everyone suddenly mining at suprnova again? Please spread the hash a little!

[bcfanminer]

1. Reduce tax the tax to 10% - get rid of price stabalization and reserve until we have them all developed and ready to function on the network this could be a future update. ?
2. We can still have the 10% tax for us to keep developing features and advertise
3. We maintain a constant block figure. Instead of increasing 3% each year we keep it super simple and keep the rate constant.

Thank you sphere so much for taking these ideas seriously and quickly.

The biggest concern I have with this idea is that we would be temporarily deleting one of two Unique Selling Points of the coin. Stable price and backing up of the currency.

I agree with you - if you remove the features, than GLB is just another copycat alt-coin. ?I believe the reserve will be super important to the corporate investors. ?But we need a third party. ?Multi-signature is good, but.... third party is always the best. ?

I completely agree with you that this is a very bad idea. Price stabilization and reserve are the unique points of Globe, and are exactly the reason why I like Globe.

I totally agree with you guys that price stablization is the most attracting feature of GLB.
Instead of using third escrow to frequently trade GLBs, let's think again the idea of price stablization. How stable do we want? How to decide the value of GLBs? The best option is to let the market decide by itself. By trading, people can get profit. So we cannot make price stable as fine-grained levels. Now recall why we love price stablization? Imagine one day, if all cryptocoins crash to zero value. The GLB will still have values, because the GLB reserves in USD, Gold, or something else. If the total reserves worth 1 million, every GLB owner will share the 1 million when all cryptocoins crash to zero.

For the third party escrow, we can keep discussion to find the best solution. We still have time. Rightnow, we can find more trusted people to keep the reserves. And sphere has already started doing this.

What you could do, but I think it's a little early for that, is reduce the amount for development and advertisement. If the coin becomes valuable and popular, less advertisement is needed. Also less Globe would be valued at the same amount of fiat, so less Globe would be needed to pay the devs. (Imagine bitcoin with 10% tax for dev/advertisement. This would have been reasonable when it started, but not anymore today).

I agree that we can keep the 10% for reserves, but less for dev/advertisement.
sphere, you can update the code that after some blocks, the dev tax is reduced.

Removing the inflation could be a good thing for the value of Globe, but of course there would be less Globe in total. The problem I have with inflating cryptocurrencies is that, contrary to fiat, you usually do not get interest on your 'savings'. So, your savings decrease in value every year, instead of staying more or less equal in value. This stimulates selling/using Globe, but does not stimulate long term support, or saving some for later use. So, I would say either keep the inflation, and add some kind of interest rate, or remove the inflation.

It's a very interesting idea. If we give GLB holders some interest, like 2% annually, then we can fight for the inflation. In this way, more people might hold GLBs, and then less GLB on the market. As as result, the GLB value itself will grow slightly. That is, more valuable instead of more stable. :-)

Overall, I think people like the idea of price stabilization very much, understand the tax for dev/advertisement at this moment, but prefer to reduce the tax for dev/advertisement for the long term. Moreover, think about the 'saving account's interst'. It looks intersting and innovative.

[sphere]

Hi,


Thanks for everyone's opinions. I will be keeping the price stabilization and reserve mechanism.

Regarding the 10% dev tax , I think we can defiantly reduce it in the future. Maybe once the trading price of GLB is higher we would need less to advertise and develop. However,it is a judgment call and can't really be imputed into the code. I don't think alot of people have been complaining about the 20% tax .. Have they?

Regarding inflation and interest. I think for Globe to be sustainable we need to maintain a rate of inflation. I agree this does reduce the interest to some investors but over the short and medium term a lot of money can be made by trading GLB and investing in it. E.g. the price was 0.000035 BTC when we where first on poloniex.com the last trade now was at 0.00008 BTC . A great jump any investor should be pleased with.

I agree with your statements on how inflation slowly erodes peoples wealth if left un-invested . I agree that over the very long run you will have this affect. It will push investors and stakeholders to invest and grow the Globe economy, develop businesses invest in infrastructure etc. Also their is a fairness factor, cryptocurrencies are always advertised to be against the "man" and against the highest "1% of earners" .

In-fact this is not true. Deflation promotes in-equality as someone who holds XXBTC is getting much wealthier overtime by not doing anything. Compare that with inflation where if someone is not smart about their money and does not invest it will very slowly erode away.

Deflation also causes other issues e.g. market liquidity and worsening of economic downturns.

I think offering some sort of interest rate would have a similar affect and also make GLB much less a currency.

So I think smart investors will know that over the short/medium term (1-10 years) they can make great returns as the increased adoption of the currency pushes up the price. Then the even smarter investors will invest their capital into creating Globe businesses etc.  

I totally agree with you guys regarding the security of the reserves and finding a way to spread the keys etc is important and as I trust more people I will start very slowly giving more keys to the wallets.

Maybe split the private key un-encryption passwords into 4 pieces and give it to a group of 16 people. Multisignature is also another way to go.

The biggest thing on my TODO list at the moment is to find a couple great devs who can turn this minimum viable product into a polished crypto-currency with all the price stabilization and reserves automated.

Thanks again for everyone's view.

Thanks
Sphere

[bladech]

Great coin!  
I'm mining @ suprnova, at the moment I found 925 blocks  

[sphere]

Great coin!  
I'm mining @ suprnova, at the moment I found 925 blocks  

Thanks Buddy !! 

[bladech]

Thanks Buddy !! 

 

[sphere]

I have full faith in GLB and am getting tired of running my computer all day, so if someone wants to make a good offer of globe coins, I'd sell my 8GH+ Jalapeno for globecoins.  Feel free to send offers to successfulbob@gmail.com

Who knows, maybe I'll auction off several things for globecoin if people are interested

Thanks

-Bob

Have any of you miners read this ?

I would jump in and buy it fast

By the way this cryptocurrency is called "Globe"

Nonetheless miners don't miss this opportunity !

[sphere]

This fella wants to buy some GLB for LTC  : https://bitcointalk.org/index.php?topic=441808.0

Wanna help him ?

[sphere]

Another person who want to buy GLB with BTC : https://bitcointalk.org/index.php?topic=442943.0

[mingophoria]

hi, i need help with my globe pool account from supernova globe pool , i have accidently locked my account out , could you please unlock it thanks.



thanks. Edited my previous post. Thanks for pointing it out.

[svebos]

It's time to make Block Explorer/Crawler, i think . For example continuumcoin has block explorer almost instantly after launch  http://singleblade.info/ctmcoin/block_crawler.php  .

[sphere]

It's time to make Block Explorer/Crawler, i think . For example continuumcoin has block explorer almost instantly after launch  http://singleblade.info/ctmcoin/block_crawler.php  .

Wayy ahead of ya got a 0.1 BTC bounty for the first person to setup a block explorer : https://bitcointalk.org/index.php?topic=442778.0