[ANN] [888] [SCRYPT] OctoCoin ◦ The Power of Eight ◦ Don't Blink

[frameLAlife]

I suppose you wouldn't even have to take control of the blockchain. If one made a new wallet and we used that one Octo address as the "burn" address any participants could send their Octo to that address. But then how do we be sure that if someone took over the Octo blockchain those coins aren't spent in the future. Highly doubt that would ever happen but to be sure of it you can't just rely on trust. How can you be sure that the private keys are destroyed or lost. Is it even possible to create a non-spendable address on the Octo blockchain? I suppose but I'm no dev. I would think if it could be done on Bitcoin it could be done for any blockchain. I'll try to find out on the CP forums.

[frameLAlife]

I will see if anyone at the CP forums can give light to some of the questions I posed.

https://forums.counterparty.io/discussion/966/transitioning-abandoned-altocoin-to-a-counterparty-asset-through-proof-of-burn-and-crowd-sale#latest

http://www.reddit.com/r/counterparty/comments/2suguh/transitioning_abandoned_altocoin_to_a/

[djslick]

yeah, i guess...

i mean, i personally don't want to abandon this amazing ticker we have. "888" is worth it's weight in gold alone. we just need a developer who can take it and run with it.

barring that, then the counter party thing is really the only other thing on the table. so i'd say if we don't see anyone step up to the plate, then go for it.

[frameLAlife]

We can do 888OP or 888OCTOPARTY or 888OCTO. You cannot do just 888 because they require 4 letter minimum.

[frameLAlife]

Ugh My last long, long post was deleted when the site was down. oh well.

[frameLAlife]

Ok guys.. so we have had some talks with vennd.io about doing the burn for Octoparty. We will have a Skype call sometime soon but before that one of the main things we need to do is reach out to all potential Octocoin holders.

I am going to try to copy/paste a message in PM to all or most of the names who posted on here. I guess I'll start at page 1 and go back through nearly 200 pages of users to message. I would like if anyone has time to do the same as much as possible. Even if you just pick 20 pages worth of posts and copy/paste a quick message inviting people to visit this board again to find out about how they can burn their coins and join the skype call. We need to get the board active again so we can let everyone know the info.

I will start tomorrow and try to get through all 200 pages over the weekend. But the more messages they have from users here the more likely they will at least visit the last few pages and may participate.

My guess is that we won't get 100% of current Octoholders. Many have gave up and moved on. Many may not care at all. Many may not trust new people coming along and picking the ball up and running. Many may not like our ideas. Many may think for some crazy reason that this blockchain will be picked up by a dev or devs and it's safer to wait.

If you want to move on from this crap though and try something new, then get on board and start by letting other Octocoin holders know what we are doing as a community. We don't have to have everyone. We only need whomever wants to keep this community alive and participate.

This new coin is not mined. We have the burn to create the new coin, the crowd sale to sell the new coin and raise some btc and we will also create some coins to distribute to the community for participation, to developers for incentive, to other Counterparty assets in cross promotions and to Counterwallet holders to introduce ourselves.

If you decide to message some of the old posters, please post here and let us know who all you messaged or at least the forum page number you messaged. We need to try to hit each person at least 2-3 times if possible.

Thanks! Skype call to announce burn plans and cost coming soon. There will be a discussion about what the burn is, how it will work and why we need to do it. Hopefully it will answer a lot of questions for people. I am hoping if there is enough interest and a large enough crowd on a skype call that we invite one of the devs from vennd.io to come on and speak to us. I will check on that once we guage what the turnout is.

I think we need a goal of at least 100 people to participate in the burn. That is doable. I don't know how many posters were active in Octo but hopefully we can get at least 100 people interested to burn their Octocoins and move to the new Octoparty platform so we can move on to the next stage of gearing up for a crowd sale.

[madmartyk]

What do we get in exchange for burning coins?

[frameLAlife]

Well I got a start. 16 pages and my 120 message limit in 1 hour. I think breezing through close to 200 pages is doable by the end of this weekend.

[frameLAlife]

What do we get in exchange for burning coins?

We will discuss this more on the skype call soon. But when you send your octocoins to the website vennd.io will conduct a burn of octocoin in exchange you will receive OCTOPARTY coins. The ratio needs to be discussed. We could trade out at a 1:1 ratio. We also could trade out to a higher ratio for people that pay part of the burn fee. Or we could just do a pre sale of a small amount of coins to raise btc to pay the burn fee. We want to make it as easy as possible for octocoin holders to burn their coins. If some cannot afford to pay and we have a way to pay the fee then that's fine. We still want octocoin holders who mined our traded btc for octocoin to be able to participate.  Vennd.io will charge us for the burn and we will discuss why it is worth it to do it this way on the call.

Another cool thing about Counterparty is the voting. We will figure this out but you will get voting rights to participate in future decision making and project voting. I think it's a good idea to give original octocoin holders some extra votes since we were the originals and paid btc for octocoin back in the day.

We have a good idea for the first project but we will need good ideas and voting for the community to decide where to take OCTOPARTY after the first project is launched.

More to come. I hope you stick around and see if you are interested in making the jump.

[neleonele]

What do we get in exchange for burning coins?

We will discuss this more on the skype call soon. But when you send your octocoins to the website vennd.io will conduct a burn of octocoin in exchange you will receive OCTOPARTY coins. The ratio needs to be discussed. We could trade out at a 1:1 ratio. We also could trade out to a higher ratio for people that pay part of the burn fee. Or we could just do a pre sale of a small amount of coins to raise btc to pay the burn fee. We want to make it as easy as possible for octocoin holders to burn their coins. If some cannot afford to pay and we have a way to pay the fee then that's fine. We still want octocoin holders who mined our traded btc for octocoin to be able to participate.  Vennd.io will charge us for the burn and we will discuss why it is worth it to do it this way on the call.

Another cool thing about Counterparty is the voting. We will figure this out but you will get voting rights to participate in future decision making and project voting. I think it's a good idea to give original octocoin holders some extra votes since we were the originals and paid btc for octocoin back in the day.

We have a good idea for the first project but we will need good ideas and voting for the community to decide where to take OCTOPARTY after the first project is launched.

More to come. I hope you stick around and see if you are interested in making the jump.

Good work LA,

i am interessting to see what will be happen.

regards to all

[mafort1469]

I am definitely interested in this. Thanks for taking the initiative!! Truly appreciated. Can you please give us some insight on timelines, etc. on when this when/will take place. Awesome man, just plain awesome!!!

[PTseller]

Thank for this pelase save 888

just a question i had my coins on bittrex but market has been removed few weeks back but my balance still shows up. Can i still get my coins in my wallet ?

[madmartyk]

I was able to send coins from Bittrex to my wallet.

[marcoman22]

Bittrex always works fine, never had any problem.

[GWCalvert]

Thank for this pelase save 888

just a question i had my coins on bittrex but market has been removed few weeks back but my balance still shows up. Can i still get my coins in my wallet ?

If you have coins at Bittrex, they need to be removed by the end of the month! Richie posted here that they would be closing the 888 wallet and that all coins should be withdrawn before the end of January.

I am definitely interested in this. Thanks for taking the initiative!! Truly appreciated. Can you please give us some insight on timelines, etc. on when this when/will take place. Awesome man, just plain awesome!!!

frameLAlife will be posting times for Skype group chats in the thread. After having a few of these discussions, sharing plans and getting feedback from the community, then a final timeline will be set. The goal is to get the swap going around the 1 year anniversary of Octo (March 8th).

The whole idea is to keep things as transparent as possible... to be the opposite of the original devs  There have been several ideas floated for the direction and projects of Octo. By getting the whole Octo community involved in deciding the direction and the projects, it will make for a better coin where everyone has an input on how things are done.

That being said; not all projects that get proposed can be taken up, even if they are wildly popular. There are many areas to look into when deciding on a project including: time, resources, cost and legality. We want to keep things moving forward and add features/services for Octo on a regular basis. This will keep current community members excited and also attract support from a whole new group of OctoManiacs.

Bottom line is... There have been some discussions going on that have laid out a rough plan for Octo and we need the community's input before any final decisions are made. We are looking at an untapped target demographic. We really don't want to discuss the exact ideas in the open thread (and have someone steal our market by hammering out another shit-clone overnight) until they are finalized and the community is ready to move forward. At the same time, we want to be transparent with and involve the current Octo community: Hence, the Skype discussions.

I can say this... The target market we have in mind and the Octo name/theme are an excellent fit. 

[OCTOPARTY]

Well guys, This is frameLAlife. My account was locked/suspended... i think for 7 days... for you guessed it: spamming. Maybe they will unlock it soon.

I see some familiar names from messaging you all last night. I went through quite a bit of the 200 pages of posts.

If you need me I guess PM this name for now.

As for a timeline:

1. Gain interest here and set up a group Skype call so we can discuss a little more in depth.
2. After discussion hold a pre-sale or buy in for the burn. If I can get Jonathan from vennd.io or another dev from there on the Skype call I will.
3. Hold the Burn. Will it be possible to hold this in March around the 1 year anniversary or at least announce it and have the website up? I have no idea. We need to raise the BTC to pay for the burn and vennd.io will probably set the date and we can try to get some media attn about this. There may be octocoin holders who are not even on this board or aware.
4. Begin the planning stages for the crowd sale. This will take a lot of discussion and planning in the community.
5. Hold the crowd sale.
6. Determine how we ended up for the crowd sale and start pushing the development of the first project.

That's just a basic plan. We need to discuss things more and see what vennd.io says.

I think we can get this going fairly quickly though if we can get the word out about the burn.

Vennd.io quoted $1500 for the burn and we need a website for them to implement the code to accept Octocoin at a Counterwallet address.

We will discuss more, but don't let the word presale or $1500 scare you away. IF you are weary or broke but hold octocoin, you can still participate in the burn. We need original coin holders who mined or spent bitcoin for octocoin for this to work. However, if you do participate in the fund raiser, pre sale or whatever we decide on, you will be rewarded, either with a better tradeout ratio that 1:1, or as GWCalvert suggested hold a presale of 500,000 for like 2 satoshis a piece, and when we figure out how to implement the voting system, we can issue you some extra voting power since you were willing to raise the $1500.

Think about it: 100 people at $20 a piece is $2000. That's fairly cheap per person. I'm sure there may be some heavier hands that want to purchase more so maybe the pre sale is the way to go. That way of you only have $5 to spend you can still help out and get some OCTOPARTY.

Again, we do not want people to feel like they have to spend more money. You spent plenty of time and Bitcoin the first time around. We are not here to scam anybody. We will discuss holding the Bitcoin in multisig wallets before payment is sent to vennd.io.

3-5 people will have control of the Bitcoin so that you know someone can't just take off with it. I think we can make this as fair and transparent as possible.

PS. I am not a dev. There's a reason I went with CP and didn't take over the Blockchain. When we hold a crowd sale we will figure out how to get a CP dev to implement Counterwallet into our first website project.

If anyone knows a good Counterparty dev that is trustworthy and affordable please refer them here so we can begin building relationships with these guys. We need to vet them, get to know them and see what their experience and intentions are.

I'll say this, an anonymous donor has already committed 250,000 OCTOPARTY to go towards development and promotion. Yes, we will have to pay Bitcoin as well but there will be some opportunity for everyone in the community to step up and do something that you are good at and experienced with.

[OCTOPARTY]

to expand a little more on what GW said: it will depend on vennd.io's schedule for the burn. Those dudes are legit and busy. However, we can do our part and at least get the website up and the new threads, facebook, twitter, reddit, youtube, all this going in a few weeks. anyone that is good at writing, we are going to need someone to prepare and re prepare press releases. we will probably need to run any press releases by vennd.io before we announce anything.

as for the first project, we think we have a good idea. remember, CP is very new and exciting platform. as devs and their community grow and add features it may give us a lot of options for future projects.

[GWCalvert]

Any OctoCoin that you pick-up between now and the time of the swap can be exchanged for OctoParty. While we are waiting to finalize the details of the OctoCoin/OctoParty swap, you can still be acquiring OctoCoin by either mining or trading.

There is only one active pool (that I am aware of) right now: http://ltcd.lifeforce.info/ Do not mine at Fusionhash... they have not made any payouts and have had backend issues since December 1, 2014... The Fedaykin (Edric) pool has been offline since the middle of December. The good news is Octocoin mining difficulty is pretty low, so you may be able to pick up a few blocks solo mining, too.

Xnigma is the only current exchange trading and there is some OctoCoin to be had very cheaply. I created an account and bought a few earlier today as a test. Now, I am just waiting for them to be transferred into my wallet. Withdrawal seems to be a bit slow there... Not sure if they are manually verifying each one or what. I would advise to be careful while trading there. Is there someone who has experience trading there that can enlighten us on how quick their withdrawals usually are... how well support responds... etc. If not, I will report back later when I finally do get my withdrawal processed.

[OCTOPARTY]

One technical aspect we need to figure out about Counteparty for the first project:

Counerparty runs on top of Bitcoin. You can do automated escrow with Bitcoin. Can you set up automated escrow for Counterparty?

From what I understand you can store Counterparty in a regular Bitcoin address. Counterparty and any tokens created on Counterparty is using the Bitcoin blockchain and addresses already.

If we have a project where multiple people pay into an address and the winner is paid out to their address that they sent the payment with?

I will continue looking. I would think it would not make a difference but it may.

You also have to think, since you can store Counterparty in a regular Bitcoin wallet and in Counterwallet and you can set both of those up in to the website, which one should be used? Will that make a difference in coding escrow transactions to pay winners?

I know this is vague. But it is also pretty straightforward. Don't want to give away exactly what the first project is but we need to see what is technically possible. Of course I  will be questioning some devs on this as much as possible in the next 2 weeks.

Any input is appreciated.

[djslick]

for myself and the dozens who have no idea about, nor even heard of before... what is counterparty?

are we burning octo into another coin that already exists? is counterparty a coin?

or are we burning through counterparty which is a service, and it will turn into octoparty which is our new currency?

i'm glad to see some progress being made on taking control, but i'm just in the dark as to what this is really entailing. and what the $1500 is actually for.

also, there doesn't seem to be discussion on what to do with a new currency once we have it.

i'll say it again, as i've done 1000 times here already, we need a gaming portal. a simple, even text-based online poker app which people can bet with our currency. that's gotta be #1, and would make our currency immediately more useful than 99% of others, as you can actually USE it for something.

online gambling is where 888 needs to stay. and we need to keep the 888 ticker, i'm not burning 888 into CP.