[ANN] Blacknet BLN | Staking | Future of zApp & ZeFi

[DrDolittle]

Since Ercoin is going to be distributed via BlackCoin burning, it would be interesting to know the date of the blockchain snapshot for the purpose of BlackNet distribution. If it happens during the burning period, then the two will interfere.

I see two possible outcomes:
1 BlackCoin = 1 Blacknet + 1 Ercoin
1 BlackCoin = 1 Blacknet or  1 Ercoin

In which one are you interested?

I would prefer NOT to see a reduction in the overall supply of Blacknet, therefore Blacknet snapshot before Ercoin/Blackcoin "swap and burn" opportunity.
"1 BlackCoin = 1 Blacknet + 1 Ercoin"
It's assumed here I think that Blackcoin won't need to be burned to receive Blacknet tokens.

Burning is inevitable

[1713409121]

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[1713409121]

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[Gritt-N-Auld]

Since Ercoin is going to be distributed via BlackCoin burning, it would be interesting to know the date of the blockchain snapshot for the purpose of BlackNet distribution. If it happens during the burning period, then the two will interfere.

I see two possible outcomes:
1 BlackCoin = 1 Blacknet + 1 Ercoin
1 BlackCoin = 1 Blacknet or  1 Ercoin

In which one are you interested?

I would prefer NOT to see a reduction in the overall supply of Blacknet, therefore Blacknet snapshot before Ercoin/Blackcoin "swap and burn" opportunity.
"1 BlackCoin = 1 Blacknet + 1 Ercoin"
It's assumed here I think that Blackcoin won't need to be burned to receive Blacknet tokens.

Burning is inevitable

Will the burn be "forever" or just a short period of time? Would link both marketcaps together.

[iYasuo]

Lets let Rat4 decide what to do.

Snapshot option:
There is the option of giving every address who holds BLK on a certain block/or time the same amount or proportional amount in Blacknet.
Then the people who want Ercoin can burn their BLK for Ercoins.

Burn opt-in option:
There is also the option of letting people opt in to Blacknet by burning the amount of Blackcoins that they want to participate in Blacknet. But this comes at a cost to the person participating in not having the Blackcoin that were burned anymore.
Ercoin can also give Ercoin to the people in this list who already burned BLK for Blacknet, or Ercoin can ask people to burn BLK again for Ercoin's own list.

No-burn opt-in option:
There is also another option of letting people opt in to Blacknet by signing that they want to opt in to blacknet with the address that contains the Blackcoin balance that they want to participate in Blacknet without having to burn it. They would have to submit the signature and what they are signing somewhere, for example in a website or something that Rat4 makes that can allow this. Then at a certain block or time it checks the balance of the addresses submitted.

Both the opt-in options come at an additional cost of not giving people who didn't opt in any coins. Perhaps they are exchanges, so people on exchanges wouldn't get any coins. Or they are on vacation and didn't follow the information or anything and would not get any coins.

If he decides to opt-in to get Blacknet?
This will result in a lower coin amount than blackcoin currently has.


The option I would prefer is to just send BTC to Rat4 and get some Blacknet but I don't think that will happen.

[iYasuo]

Can Blacknet have more coins than Blackcoin?
What if every 1 BLK is 1,000,000 blacknet. with 2 decimal places.

The same 1.00000000 can be

Code:

1000000.00
100000.000
10000.0000
1000.00000
100.000000

[eBit]

Since Ercoin is going to be distributed via BlackCoin burning, it would be interesting to know the date of the blockchain snapshot for the purpose of BlackNet distribution. If it happens during the burning period, then the two will interfere.

I see two possible outcomes:
1 BlackCoin = 1 Blacknet + 1 Ercoin
1 BlackCoin = 1 Blacknet or  1 Ercoin

In which one are you interested?

I would prefer NOT to see a reduction in the overall supply of Blacknet, therefore Blacknet snapshot before Ercoin/Blackcoin "swap and burn" opportunity.
"1 BlackCoin = 1 Blacknet + 1 Ercoin"
It's assumed here I think that Blackcoin won't need to be burned to receive Blacknet tokens.

Burning is inevitable

This is a major change from “Wait for a good opportunity to buy BLK, then wait for the snapshot.That simple”

I’m sure many would like to know why “Burning is inevitable.”


The problems I see with burning BLK for Blacknet or Ercoin are:
1.   Trusted Third Party or Swap Software needed to facilitate the swap
  a.   People involved may be unreliable or have ulterior motives causing possible loss of Blackcoin with nothing in return.
  b.   Swap software may have bugs, or can be hackable causing possible loss of Blackcoin with nothing in return.
2.   BLK holders are trading something that has present value and is tradable across several exchanges including shapeshift.io and flyp.me for something not tradable and which may or may not be tradable at some future time, at some value which may be higher or lower than that of the burned BLK.
3.   BLK Proven peer to peer transfer network exchanged for new “untested in real world” networks
4.   BLK total coin supply & market cap calculations become invalid.
5.   Existing BLK supply gets more concentrated in the hands of centralized exchanges.
6.   If any crash and burn occurs, both burned BLK and the new tokens are gone.

A snapshot avoids all these issues, requires no trust, and is pretty much invisible to BLK, except for the trading occurring before and after. If something goes wrong in the processes, no one is at risk of losing anything.

If coin holders are going to be asked to burn BLK in exchange for a new coin, they should have detailed information about the exchange processes, and enough information on the new coin networks to make an informed decision.

I really want to like Blacknet, but at this point, it’s just vaporware wanting to eat my Blackcoin.

[IdealisticAnarchist]

I am very interested in blacknet, but I don't want to burn my precious blackcoin to get blacknet...

I hope distribution is done via snapshot.

I am willing to buy some extra blk to burn to get ercoin though.

[icolancer]

I think it’s actual, serious technology in project, super project for invesment!

[eBit]

Can Blacknet have more coins than Blackcoin?
What if every 1 BLK is 1,000,000 blacknet. with 2 decimal places.

The same 1.00000000 can be

Code:

1000000.00
100000.000
10000.0000
1000.00000
100.000000

Sounds plausible.
Total max coins 76 trillion
Purchase .01 Blacknet for .000000000002 BTC.

All you need is to submit a Bitcoin Improvement Proposal to add 4 decimal places to BTC and hope that the Blacknet/BTC price never falls by more than 50% causing 0 exchange volume at the 1/10000 Satoshi price.

[krzysiekj]

Since Ercoin is going to be distributed via BlackCoin burning, it would be interesting to know the date of the blockchain snapshot for the purpose of BlackNet distribution. If it happens during the burning period, then the two will interfere.

I see two possible outcomes:
1 BlackCoin = 1 Blacknet + 1 Ercoin
1 BlackCoin = 1 Blacknet or  1 Ercoin

In which one are you interested?

An interesting dilemma. When asking the original question I had snapshot in mind as a method of Blacknet distribution, but whether it is snapshot or burning may be not that important in the considerations below.

If 1 blackcoin = 1 blacknet or 1 ercoin, then investors will have an opportunity to make a decision of how to divide funds between Ercoin and Blacknet. If 1 blackcoin = 1 blacknet and 1 ercoin, then investment preferences in this regard will not be reflected in the initial distribution and there will likely be a lot of trading after the launches to achieve state from the former case.

In the latter case, the fact that obtaining Ercoin via burning will also mean obtaining Blacknet and vice versa may mean that more people in total will hold both currencies, which may result in greater adoption. On the other hand, if people are not allowed to choose between the two currencies, then it may form an incentive to not purchase BlackCoin at all, wait until the launch of the currency they’re interested in and purchase it on an exchange. In particular it may therefore result in a lower value of BLK burnt/snapshotted and therefore lower perceived value of both currencies.

“Merged burning” (allowing the same burned BLKs to participate both in Blacknet and Ercoin distribution) may form an interesting marketing opportunity, but so may another alternatives.

Weighing the pros and cons above, I’m currently leaning toward 1 blackcoin = 1 blacknet or 1 ercoin.

[DrDolittle]

In the latter case, the fact that obtaining Ercoin via burning will also mean obtaining Blacknet and vice versa may mean that more people in total will hold both currencies, which may result in greater adoption. On the other hand, if people are not allowed to choose between the two currencies, then it may form an incentive to not purchase BlackCoin at all, wait until the launch of the currency they’re interested in and purchase it on an exchange. In particular it may therefore result in a lower value of BLK burnt/snapshotted and therefore lower perceived value of both currencies.

“Merged burning” (allowing the same burned BLKs to participate both in Blacknet and Ercoin distribution) may form an interesting marketing opportunity, but so may another alternatives.

Weighing the pros and cons above, I’m currently leaning toward 1 blackcoin = 1 blacknet or 1 ercoin.

I think the market showed that it's ready to abuse all three projects if we go for 1 blackcoin = 1 blackcoin + 1 blacknet + 1 ercoin.
So, explicit choice via burning seems to be the most fair option.

[Gritt-N-Auld]

In the latter case, the fact that obtaining Ercoin via burning will also mean obtaining Blacknet and vice versa may mean that more people in total will hold both currencies, which may result in greater adoption. On the other hand, if people are not allowed to choose between the two currencies, then it may form an incentive to not purchase BlackCoin at all, wait until the launch of the currency they’re interested in and purchase it on an exchange. In particular it may therefore result in a lower value of BLK burnt/snapshotted and therefore lower perceived value of both currencies.

“Merged burning” (allowing the same burned BLKs to participate both in Blacknet and Ercoin distribution) may form an interesting marketing opportunity, but so may another alternatives.

Weighing the pros and cons above, I’m currently leaning toward 1 blackcoin = 1 blacknet or 1 ercoin.

I think the market showed that it's ready to abuse all three projects if we go for 1 blackcoin = 1 blackcoin + 1 blacknet + 1 ercoin.
So, explicit choice via burning seems to be the most fair option.

Personally I think BLK snapshot for Blacknet then burning of either Blacknet / Blackcoin for Ercoin is better, depending on timelines.

[krzysiekj]

I’ve released burnt-explorer 2.0.0. It now outputs more data (which may be helpful for statistics and visualisations) in standard CSV format. It is also possible to specify a custom blackcoind command.

[janmb]

of course i wish i had more and more blackcoin ,blacknet and ercoin. dont you?

[chinaBLK]

Do not use the name "blacknet".、
"Black" is not a good word in many cultures.

I hope that the future BLACKNET is a free transfer, which is fast. Just like EOS.

Otherwise it is not competitive.

[DrDolittle]

Do not use the name "blacknet".、
"Black" is not a good word in many cultures.

Any good ideas? 

[Gritt-N-Auld]

Do not use the name "blacknet".、
"Black" is not a good word in many cultures.

Any good ideas? 

"Whitenet" =P

[muleroaa]

Do not use the name "blacknet".、
"Black" is not a good word in many cultures.

Any good ideas? 

Phoenixnet

You seem to be around, haven't you thought about further specifics to Blacknet and it's contents and future?

[AltScope]

Do not use the name "blacknet".、
"Black" is not a good word in many cultures.

https://en.wikipedia.org/wiki/Black
Black is a colour, please name one culture that believe the word black is not a good word
all this pc culture bs makes me want to die

anyway can someone exlpain whats going on with blackcoin> blacknet cant find any information just some vague references to a snapshot for blacknet and burning for ercoin 

whats ercoin? can someone provide a link to its ann/website
is blacknet happening if so whats the expected timeframe?
is blackcoin continuing? I thought the community were going to keep it going due to the lack of information and apparently interest from rat4

[hacksmash]

Do not use the name "blacknet".、
"Black" is not a good word in many cultures.

Any good ideas?  

"Whitenet" =P

WhiteCoin ... and it would be REALLY convenient if it could atomic swap with BlackCoin from within the SAME WALLET software

[Gritt-N-Auld]

Do not use the name "blacknet".、
"Black" is not a good word in many cultures.

https://en.wikipedia.org/wiki/Black
Black is a colour, please name one culture that believe the word black is not a good word
all this pc culture bs makes me want to die

anyway can someone exlpain whats going on with blackcoin> blacknet cant find any information just some vague references to a snapshot for blacknet and burning for ercoin 

whats ercoin? can someone provide a link to its ann/website
is blacknet happening if so whats the expected timeframe?
is blackcoin continuing? I thought the community were going to keep it going due to the lack of information and apparently interest from rat4

BLK Community continuation here: https://bitcointalk.org/index.php?topic=3017838.0