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

[hdmediaservices]

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.

I agree. 

So - I apologize if I am asking already answered questions regarding what happened with 888 (as I'm been a way since a new baby came into the house :-)

The current 888 blockchain -- can it not be fixed by someone legitimate?  Is it just a matter of money?  Or does no one know what is wrong with it?  I'd be glad to invest some real money into this coin - love the 888 symbol.  From what I've seen, some people have given a fraction of a bitcoin here and there to someone to do something -- but then I got lost.

I can also put real hashing power behind this coin to make sure the gears start moving again (3 to 4Gh/s to start).

Can anyone give me a brief history of this coin and what happened?

[GWCalvert]

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.

Firstly, Octo was never intended to be just a gambling coin. The gaming aspect was only one of the eight promised applications... and even that was hinted at being developed for one of their "investors". There were many aspects to the devs plans/scam/whatever, none of which ever materialized.

As far as burning your OctoCoin into OctoParty... Nobody is being forced to do it. That is your decision and only you can make it. But instead of getting your knickers in a twist about it, maybe you should wait and see what the plans are for OctoParty. When frameLAlife posts the times for the Skype calls, get in on them and listen to what is planned and give your opinions. Of course, you could always send them to Xnigma and dump them into that 1 satoshi buy order there...

We want everyone that is holding Octo to be involved in the decision making process. We all started out in this thing nearly a year ago as a community following a "dev team". Now it is time for the community to take the reins and make Octo into something that we can once again believe in.

[hdmediaservices]

Is there any transparency with anyone in this plan?  Why does the PTCCRYPTO.com site have the domain information hidden?

[GWCalvert]

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.

I agree. 

So - I apologize if I am asking already answered questions regarding what happened with 888 (as I'm been a way since a new baby came into the house :-)

The current 888 blockchain -- can it not be fixed by someone legitimate?  Is it just a matter of money?  Or does no one know what is wrong with it?  I'd be glad to invest some real money into this coin - love the 888 symbol.  From what I've seen, some people have given a fraction of a bitcoin here and there to someone to do something -- but then I got lost.

I can also put real hashing power behind this coin to make sure the gears start moving again (3 to 4Gh/s to start).

Can anyone give me a brief history of this coin and what happened?

The 888 block chain is actually moving along just fine. The only issue was with Bittrex on a couple of withdrawals that they double-paid because of a conflicted transaction. The Octo code was a straight rip-off of Doge 1.7 except it was rushed to market before the Doge release. The Doge developers actually made a few changes before their own release. A couple of these relate to transactions, but really do not change the way they are seen on blockchain. Nevertheless, Bittrex will not re-list the coin in its current state and, even with a new client, we will have to show them real development plans before they will even consider listing it again.

The OctoCoin burn into OctoParty is an idea that frameLAlife came up with. I was skeptical at first, not being very familiar with the CP platform. After looking into it and seeing how other coins/tokens built on the CP platform were performing, I agreed that this was the best possible way to go. Since the idea was first put forward here, there has been a mainly positive reception for the idea. There are some other advantages of using the CP platform that should make implementing some of the project ideas easier.

I can update the OctoCoin client... but, at this point, I believe the swap to OctoParty is a better long-term solution. Join in on the Skype sessions when they are announced, and listen to the plans. Express your opinions. Either way we will make this work.

Is there any transparency with anyone in this plan?  Why does the PTCCRYPTO.com site have the domain information hidden?

PTCCRYPTO.com has nothing to do with Octo. That is frameLAlife's site. Many people choose to have private domain registrations. If you have ever owned a domain and seen the number of spam emails you get each day from people who have searched your who-is info, you would understand.

The skype sessions are designed to let the community members know the plans and let them voice their opinions on how we move forward with the coin. Nothing is set in stone, that is why we want to have these discussions on Skype before we release any plans.

And once again... Anyone that doesn't want to participate in the swap does not have to. You can stick with the old Octo and try to keep it going if that is your desire. Nobody will be forced to burn their coins.

[OCTOPARTY]

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.

Counterparty is a protocol that was created to run on top of Bitcoin. When they say Bitcoin 2.0 that is what they mean. People "burned" Bitcoin by sending Bitcoin to an address where it can never be spent again. They raised like 2400 Bitcoins back when it  was around $800 a coin I think. They created around 2.4 million XCP with the "burnt" Bitcoins. Now XCP is Counterparty's own currency.

The cool thing about Counterparty is anyone can create your own token to use. They also have their own exchange in wallet where any tokens created by people like use or other companies like StorjCoinX, FoldingCoin, GEMZ, Swarm, etc can be traded in wallet. But other exchanges carry all of those tokens and most trade for between half a cent all the way up to 5 cents. XCP is at about $2 a coin right now. But it's been as high as $8. Most Counterparty assets are listed in the top 50 all the way to the top 10 coins on coinmarketcap at any given time.

So the only altcoin that has "burned" coins was ScotCoin. They burned damn near their whole blockchain I guess cuz they created 1 Billion ScotCoins on Counterparty. Their ticker is XCPSCOT. I do not know how they burned theirs.

So vennd.io is a company that works with Counterparty, Swarm, Koinify and such that does Counterparty projects. They basically created a vending machine for websites where you put Bitcoin in and spit whatever coin, token or asset you create out.

So if you wanted to sell something virtual like a coin or something in real life and make a Counterparty token to represent that you could spend Bitcoin and buy whatever item it is.

The good thing about Counterparty is it's cheap to make. You can pay .5 XCP which is roughly a dollar and name your token, put whether the token is whole or divisible to the 8th decimal like Bicoin, choose the number of coins you want and either lock that number or leave it unlocked to create future tokens for whatever reason.

It will also allow things like smart contracts and other Bitcoin 2.0 features in the future as they develop them. Some of these things include smart contracts and betting through the blockchain. Some of this is already available even. Granted the betting blocks US IP addresses but with VPN you can try it out cuz other places in the world can use that wallet to create betting contracts that run on the blockchain.

We can discuss the burn and stuff on the call. Honestly we could just make a new token but how do you fairly distribute them? Without burning what ppl mined and paid for with Bitcoin, like Octocoin, and trading them out to an address that can never be spent in the future, how would we have value?

Now, all of the coins mentioned above have value, they were created when ppl spent Bitcoin and bought the token. The token was created and not mined but what really gives it value is the Bitcoin they spent and what that Bitcoin funded those companies to do. Whether it's projects or marketing, paying devs, we could possibally raise a lot of Bitcoin to pay for all of this if we burn Octocoin and create our token then hold a crowdsale to sell the tokens we make in the future.

It's weird to think about but Counterparty, vennd, Swarm and all of those companies got a lot of media attention and raised a lot of bitcoin to pay for their projects.

Also, nobody is saying we have to do this. If the majority of people aren't behind it there is no point. If people would rather not be a part of this, it doesn't have to be an Octo project. Some may not want to but I highly doubt anyone is ever gonna take over this blockchain and make it profitable for us so I figured I'd throw this idea out.

If you want to see how it works go to:

counterwallet.co and make a password for your wallet and post your address here.

I have created PTCRYPTO and I can send you that coin/token so you see how it works.

Counterwallet holds Bitcoin and any/all Counterparty tokens/coins/assets that will ever be created.

[mafort1469]

I will put in my $20 to get this moving. I actually will put in more to ensure that this WILL happen! Thanks for taking this on!

[OCTOPARTY]

Is there any transparency with anyone in this plan?  Why does the PTCCRYPTO.com site have the domain information hidden?

PTCRYPTO was a site that Joshycoin and I created. We are roommates. We never followed through with it really. We tried but where we live in KY nobody gives 2 shits about Bitcoin. Every business I talked to wasn't interested in accepting Bitcoin for the most part.

My normal screen name on here is frameLAlife.

As far as the domain info I dunno why it's hidden. Josh registered the site on squarespace with his card and his personal info. He is kinda burned out on crypto from getting burnt with Octocoin.

So I have a wallet full of cryotocoin called PTCRYPTO that I thought about doing something with but never did. We never held a crowd sale for it or anything.

PTCRYPTO doesn't have much to do with Octo though. I can use that created token to show you how counterwallet works though.

as for transparency, that's exactly what we want.

we don't want the old octo devs treatment.

1. we want to raise bitcoin and have multiple community members to hold it in a multi sig wallet to prevent people from stealing the bitcoin.

2. we want community voting on almost everything to ensure that we are doing whats best for all of us and you can do that with counterparty tokens. give options, create tokens and distribute to all coin holders and let them send to certain addresses to vote for certain options!

3. set milestones and goals and hold devs of projects to them. you don't get any bitcoin until you show progress on the projects or promotion. you can do this by having multi sig wallets. you can even involve devs from vennd or whomever does the crowdsale so that you have to have signatures from community members and an outside party confirming that things have been done and progress has been shown by a certain time before we sign off on releasing bitcoin as payment.

4. i have no interest in necessarily being a leader or running the show. i have no interest in being one of the people that holds power over the multi sig wallet. if you need 3/5 signatures for the transaction to go through we can easily ask vennd.io dev to be one person and elect 4 people from the octo community to sign off on paying devs. that way you have to have communication and support of progress being shown before our money goes down the drain,

5. i'm all for having one of the people holding a key to the multi sig wallet being the most skeptical. so if DJSlick wants to be voted in as one so we have balance i'm all for it. that way if people are drinking the kool aid a skeptic and someone who questions everything can be on that team and point out any BS they see. granted he'd have to convince 3 other octo members and a dev of vennd.io that they don't need to sign off on something that he considers bs. that's the beauty of multi sig wallets, tokens for community voting and having another party involved that has no stake in the coin like vennd.io. it's layers of visibility and discussion before money is spent and should keep scams out.

Thoughts?

[OCTOPARTY]

https://forums.counterparty.io/discussion/975/escrow-for-games-with-counterparty-assets

forum question about the payouts from winning a game on a website.

the betting feature in wallet may work now but smart contracts should allow this escrow in the future. they copied ethereums smart contract code and added it to Counterparty but it's not usable yet in counterwallet. but it should be down the road i'd think as far as some of the projects we could plan around this coin for gaming, betting, tippping, etc.

ok i'm beat, i'm done for the night.

cya guys.

[OCTOPARTY]

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.

Firstly, Octo was never intended to be just a gambling coin. The gaming aspect was only one of the eight promised applications... and even that was hinted at being developed for one of their "investors". There were many aspects to the devs plans/scam/whatever, none of which ever materialized.

As far as burning your OctoCoin into OctoParty... Nobody is being forced to do it. That is your decision and only you can make it. But instead of getting your knickers in a twist about it, maybe you should wait and see what the plans are for OctoParty. When frameLAlife posts the times for the Skype calls, get in on them and listen to what is planned and give your opinions. Of course, you could always send them to Xnigma and dump them into that 1 satoshi buy order there...

We want everyone that is holding Octo to be involved in the decision making process. We all started out in this thing nearly a year ago as a community following a "dev team". Now it is time for the community to take the reins and make Octo into something that we can once again believe in.

on the gambling aspect...

it was only 1/8 promised apps. i see his point on the 888 ticker as far as gaming/gambling.

the thing is there's barely any money in poker/gambling in bitcoin alone. there's some. and there's plenty that try and go down specially here in the states. if you get big enough they will come after you. we've seen it in regular online poler with pokerstars, etc. we've seen small cases in bitcoin. unless it's decentralized and you put your servers overseas you risk losing a lot. now block chain gambling is an option. they already have a betting option in wallet but it's blocked for us IP addresses. but a vpn can fix that or you just market it to non US. but i don't think a simple poker game is enough.

we could still have that developed and vennd.io is currently doing a crowd sale raising bitcoin for a CP asset called bitnplay that's been on bitcoin sites news recently. i contacted them and they seem like they only want to have decentralized poker. but what if we contract out to them to create decentralized poker or blackjack or a blockchain text based like djslick is talking about on the blockchain? that is an option and there's value there. but we need to discuss all the things that come along with gambling.

we can't post here what we are talking about yet... but on the skype call we can talk about it. we have thought about something that is close to what dj wants but will be less headaches in some ways but more headaches in others but could give the coin a great first application that has use and value. and if we follow in octocoins footsteps, get one up and going and lets shoot for 8.

but lets discuss ideas. there may be something that calvert and i haven't thought of that's better or something that we haven't thought of that would make our idea hard to do or not as great an idea as we thought, that's the point of the skype call.

you don't have to join the burn party. realistically we could do this whole thing with very little or few of the original octocoins or holders. we could just create a total new coin with zero octo, but octo gives this a good community from the start, it gives us a chance to turn this negative shitcoin into a positive, and it gives us a good story to tell about ourselves and the coin when we market it. more than anything it gives us a chance to test a community driven coin with voting and transparency to see how well it can be done and how far we could take it.

as for the 888 ticker. XCP is the only 3 letter token on CP. all the others are required to have a 4-12 letter name. we could do:

8888
XCP888
XOP888
OCTO888
OCTOPARTY888

or any combo 4-12

and we could distribute vote tokens and have the community vote on what the actual ticker is.

i'd suggest if you really don't know that much about CP djslick to check out the wallet and youtube or google counterparty XCP or any of the coins. you really don't know much about it and have already shut it down dude. this gives us a lot of options without having to be a dev and running our own blockchain. plus most counterparty created tokens, coins and such are all doing very well price wise. look em up on coinmarketcap or wherever you trust. look at what each coin does to give it value.

or burn a few of your coins to octoparty and keep the rest as octocoin in case someone does something with this blockchain and you want to support that. you have plenty of options but i think you'll be really surprised at what we can do with CP. and read my earlier post... maybe you should be around for octoparty to be the voice of oppositon, after the way octocoin went i see nothing wrong with someone playing devils advocate against everything. it makes you have to perform when people like you are here to call out BS... but please, make sure you look into CP before bashing it and saying you just won't do it... you don't know enough about it to bash it yet....

[cabbage2014]

@OCTOPARTY I'm all for it and would be happy to participate in the 'burn in'  please notify me when skype session is taking place as I'm not always checking this thread!  I would be happy to contribute some BTC, but would like to know what the ratio of Octo/Octoparty would be. 

[OCTOPARTY]

So, I talked to one of the guys from ScotCoin. They pretty much gutted their blockchain and turned it into a CP asset. He said they did their own burn without help from a third party. You just have to create a wallet and do all the work manually. So if a user has 20,000 octo they send it in to the burn address with their counterwallet address i'm assuming with an email and a screenshot of your balance.) and you just manually return the amount of your new CP asset.

We could do that probably pretty easy since we don't have a ton of people burning. It may take a team of us to to do it. But we would save $1500 that way.

We would still have to raise money for the crowd sale because I don't think we could manually process tons of orders in btc to sell the new Octo asset, plus you have to have media attention for that so you need another party that can get that for you.

One thing that made me think it would be better to burn the coins was the fact that we don't want FUD or the scam accusations. If someone came along and did something with the original blockchain you don't want one person or a team of people to have a wallet full of millions of octocoins to cash out with. So I was thinking we could do this: After the burn is complete, anyone who participates is emailed the .dat file with the public and private keys to the wallet. That way everyone has access to the wallet. Granted, someone could come and take off with all the octocoins in one transaction. But honestly, do we really expect anyone to come along and do something with octocoin?

So, do we burn ourselves for free? Or do we pay for legitimacy of vennd.io doing it? Does one really bring more legitimacy or does it really matter?

If you were a btc holder and had the chance to buy some coins for a project, would it make a difference about the coins already issued and how they were burned? Just something to think about.

[SquidsIn]

So, I talked to one of the guys from ScotCoin. They pretty much gutted their blockchain and turned it into a CP asset. He said they did their own burn without help from a third party. You just have to create a wallet and do all the work manually. So if a user has 20,000 octo they send it in to the burn address with their counterwallet address i'm assuming with an email and a screenshot of your balance.) and you just manually return the amount of your new CP asset.

We could do that probably pretty easy since we don't have a ton of people burning. It may take a team of us to to do it. But we would save $1500 that way.

We would still have to raise money for the crowd sale because I don't think we could manually process tons of orders in btc to sell the new Octo asset, plus you have to have media attention for that so you need another party that can get that for you.

One thing that made me think it would be better to burn the coins was the fact that we don't want FUD or the scam accusations. If someone came along and did something with the original blockchain you don't want one person or a team of people to have a wallet full of millions of octocoins to cash out with. So I was thinking we could do this: After the burn is complete, anyone who participates is emailed the .dat file with the public and private keys to the wallet. That way everyone has access to the wallet. Granted, someone could come and take off with all the octocoins in one transaction. But honestly, do we really expect anyone to come along and do something with octocoin?

So, do we burn ourselves for free? Or do we pay for legitimacy of vennd.io doing it? Does one really bring more legitimacy or does it really matter?

If you were a btc holder and had the chance to buy some coins for a project, would it make a difference about the coins already issued and how they were burned? Just something to think about.

Nobody should have access to the private key in the first place, it should be possible to create a burn address without ever knowing it's private key;

https://en.bitcoin.it/wiki/Proof_of_burn

[kingscrown]

im down for burning have a few coins.

[th0ms0n]

Around 1.5 M octocoins here, ready to burn

[dagi]

It sounds good to me. I'm ready to burn.
 

[OCTOPARTY]

So, I talked to one of the guys from ScotCoin. They pretty much gutted their blockchain and turned it into a CP asset. He said they did their own burn without help from a third party. You just have to create a wallet and do all the work manually. So if a user has 20,000 octo they send it in to the burn address with their counterwallet address i'm assuming with an email and a screenshot of your balance.) and you just manually return the amount of your new CP asset.

We could do that probably pretty easy since we don't have a ton of people burning. It may take a team of us to to do it. But we would save $1500 that way.

We would still have to raise money for the crowd sale because I don't think we could manually process tons of orders in btc to sell the new Octo asset, plus you have to have media attention for that so you need another party that can get that for you.

One thing that made me think it would be better to burn the coins was the fact that we don't want FUD or the scam accusations. If someone came along and did something with the original blockchain you don't want one person or a team of people to have a wallet full of millions of octocoins to cash out with. So I was thinking we could do this: After the burn is complete, anyone who participates is emailed the .dat file with the public and private keys to the wallet. That way everyone has access to the wallet. Granted, someone could come and take off with all the octocoins in one transaction. But honestly, do we really expect anyone to come along and do something with octocoin?

So, do we burn ourselves for free? Or do we pay for legitimacy of vennd.io doing it? Does one really bring more legitimacy or does it really matter?

If you were a btc holder and had the chance to buy some coins for a project, would it make a difference about the coins already issued and how they were burned? Just something to think about.

Nobody should have access to the private key in the first place, it should be possible to create a burn address without ever knowing it's private key;

https://en.bitcoin.it/wiki/Proof_of_burn

i know that... i'm not talking about if we have someone who knows what they are doing do a burn.... i was talking about if we didn't pay $1500 to vennd.io and found a way to do it ourselves, which to my knowledge nobody here knows how to make a burn address....

pay attention to the differences i'm talking about. that whole paragraph was about NOT DOING A BURN and finding a way to trade out the coins like ScotCoin did.

if we don't want to spend money as some of you have clearly said you don't or won't, we can just trade them out manually. if we create a wallet with an address there will be a private key.

hence the reason you actually pay vennd the $1500 burn the coins instead... if nobody has a private key there's no room for someone to come back later with everyone's coins and dump them should the octocoin blockchain revive.

My point was we can spend money but we don't have to. And if there are very few participants then maybe there's no need in spending that money.

[OCTOPARTY]

https://bitcoinmagazine.com/17866/counterparty-and-the-asset-revolution/

[altcoin hitler]

What's the point with all this burning? The coin should be able to repair and trade as normal coin, no? (is it even broken?)

[OCTOPARTY]

well, if we did a burn, the point is to move to the counterparty platform and run on the bitcoin blockchain.

the purpose of "burning" coins is sending them to an address that is not spendable in the future. once they are there nobody can come back to the octocoin blockchain even if someone picks it up and makes the original octocoin valuable. once they are locked into that address they are locked forever. just like when people spent Bitcoin to create Counterparty's XCP coin. the bad part is: we don't know how to burn a coin. the good part is: we can pay someone who is a legit verifiable professional to do it. www.vennd.io

of course, if we are cheap, we could find other ways to trade out octocoin for the new octoparty token... but you can't ensure that it will never be spent again if you don't "burn" it.

yes, if anyone wants to they could repair the withdrawal issue and take over the original blockchain for octocoin.

but it's been months and nobody has. even if they took over the coin, do you trust them? what will they do with the coin when they take it over? are you going to pay them bitcoins and octocoins to fix this shit? you trust them? enough to pay them?

i am not a developer. i have a large stake in octo. i have friends with an even larger stake in octo. i know people on this board with millions of octo. i want the issue fixed and the coin to be worth something. that's why i started pushing this idea.

however, i don't have the technical capability, nor do i think most alt blockchains will sustain long term. i can however, help guide and put in time to do something to make the coin valuable. there are ways to let the community drive the coin and hire real devs to do real projects to give the coin value.

some people may not trust or like the burning of coins or moving to CP. the best part about that is that you do not have to participate or you can only send what you want to be burned. but i am pretty confident what we are talking about doing will be way safer and more transparent than what we got from the original dev/s. and i know that with multi sig wallets, timelines that pay devs based on meeting milestones and having multiple people in charge of paying out the dev, the voting system that you can verify on the blockchain are all more realistic and safe than giving some random bitcointalk.org "dev" a bunch of bitcoin and octocoins and hoping he fixes a withdrawal issue and does something even remotely good with the current blockchain.

if you aren't convinced or don't trust it, then don't gamble all your octos away. but if i were you i'd at least burn some in case what we are doing is successful and worth something.

if we fail, then you didn't lose all your octo. if we win, then you win.

and what happens to the rest of the coins on this blockchain is anyone's guess. maybe some bitcointalk.org "dev" or bholzer or the original octo devs can save you.

i'm not waiting around. and i don't think people with at least close to 5 million octocoins are either.

[OCTOPARTY]

http://bravenewcoin.com/news/vennd-powers-next-gen-crowd-funding/

interesting article.. also explains how you can pay out dividends using CP. that is kinda interesting. you could pay out dividends in Bitcoin to holders of OCTOPARTY in any time frame... i believe even per transaction. of course you'd have to have profits to do that.. but interesting nonetheless. my guess for projects we are talking about doing you could be out quarterly, bi-annually or yearly, a certain % to all coin holders. the more coins you hold, the more of a dividend would be paid out to you. granted, most companies keep dividend % fairly small and there's risk with dividends when stock prices drop.

def a good read though.