[ANN] Project Freedom - a peer to peer trading and mining application

[team-freedom_peter]

Announcement

Project Freedom

https://i.imgur.com/4Mdsalu.png
..a modular peer to peer solution for today's problems





Greetings,

this is an announcement for the first peer to peer trading exchange based on the blockchain.


We are a small but enthusiastic group of programmers and master computer science students from germany, that jumped on the crypto train (sadly) way too late. Nonetheless, we still believe that the whole cryptocurrency business is in its infancy. That is why there are still enough problems to solve, and we are trying to fix one of them with our software.

One of the biggest problems in our eyes is the still existing middleman. Satoshi Nakamoto created a system based on a peer to peer network, trying to eliminate the middleman. The problem that we are facing right now is, that more and more middlemen step into this void. The void that got created by eliminating the bank, was filled immediatly with systems like MtGox, Cryptsy, BTCe, and many more. Our goal is to eliminate all of them and replace their services with a modular peer to peer trading platform based on the blockchain with the only fees being the trading fees. Especially after the MtGox fiasco we realized that the crypto world is in urgent need for a trustless trading platform.

A trustless system to trade every coin you want to, based on the blockchain protocoll.



The second problem is the unnecessary complexity to mine. We strongly believe that mining and the blockchain protocol are equal to eachother. Without mining there is no blockchain, as well as the other way around. We want so simplify this process as much as possible, the user will start the mining process just with one click.
All of this will be available without any disadvantages for the mining and trading experts. We will make an easy to use programm, without cutting out any comlexity for the expert user.


Therefore, we divide our program into two chapters.





Chapter one

A modular peer to peer trading software based on the blockchain



Chapter two

An integrated peer to peer mining client for every coin with full remote control for all of your rigs





Sounds interesting ?
Then read on.







Chapter one

A modular peer to peer trading software based on the blockchain



Our software allows the trading of different coins with each other – usable from your own desktop. Every other known exchange is unnecessary. No risk. No more deposit problems(hello Cryptsy). No more danger of stolen coins because of dubious exchanges (hello MtGox).

The minimum version of the client is just a raw bitcoin wallet including the blockchain and an unique hashaddress. However, you can install several applications on this client. Every app represents a different cryptocurrency including its blockchain and comes similarly with a unique hashadress.



How does it work ?
 
The client creates a single unique bitcoin hashaddress during its installation. This address is hardcoded in your software, you cant change it.
In order to use bitcoins in the trading app, you have to send them to your unique hashaddress. In this process the first sender's address gets as well locked into the software. That means, you can withdraw your bitcoins only to the same address that was responsible for the first transaction into the client.
After some time your coins are confirmed on the blockchain and you are almost ready to trade. However there is one thing missing, you have to install your desired coin-app to use a second blockchain.
Inside of the client, we use hardcoded trading addresses for every blockchain. They work as escrow.

Please check out this picture for an explanation:

https://i.imgur.com/w53V9nZ.jpg


When a trade takes place, coins are sent to the escrow addresses. After the required confirmations are met on each blockchain, the escrow address gives its "OK" and releases the desired coins to both parties. If, for whatever reason, the required confirmations are not fulfilled in an hour, the escrow address cancels the trade and sends the coins back to each of its owners. Every user can modify the required confirmations for his counterparties coins.

For example: Because you trust the bitcoin network, you accept a trade after two to three confirmations.
However you don't trust the ABC's coin network. That means you wait for full confirmation.



Summary:

modular peer to peer trading on the blockchain with EVERY other blockchain
elimination of the middleman, every other exchange is dispensable
transaction costs are the only trading fees
no trust necessary, every transaction is based on the blockchain

More features:

trade with conditions
easy to use macro/script language
graphs for the whole trading range
full api control
no more exchange failure in a rally (hello Cryptsy), every user IS the exchange
immediate trading shutdown in case apps are on different blockchains






Chapter two

An integrated peer to peer mining client



We firmly believe that crypto currencies, trading and mining must go hand in hand. Mining is the fundamental base for a safe blockchain. Therefore the mining app has the same priority as the trading app for us. You will mine your desired coin in a peer to peer network to strengthen the network and secure its validity, while reducing the danger of 51% attacks. We want to create it as user-friendly as possible,  while maintaining many configuration settings for the expert user.


Features:

full mining control for all of your rigs (cgwatcher-like)
one mouseclick mining
automated calibration for your gpu's
settings: performance, stability, efficiency (hash/watt)
integrated voltage control
adjustable events: automated coin switch, trading, scheduled events
support for sha256, sCrypt, n-sCrypt, keccak, and many more
0% fee mining







You are interested in our project and wish to support us?



That's great!

Here is a bitcoin address, if you want to donate some bucks for our development.

1AA3WfjWVUwE7ubwngcExBhKoM9DKZytZP





What do you get out of it ?

We would like to thank every supporter. On the other hand we want to release our open-source client as soon as possible. That's why we have chosen the following three-phase model. Each user with a donation of more than 0.01 bitcoins gets an invitation to our beta program. Each user with a donation of more than 0.1 bitcoins gets a lifetime 0% trading fee for three clients.
Please do not forget to send us a pm with your email and donation-transactionnumber.


Phase 1

Alpha
Internal testing with the raw client in our test-net.


Phase 2

Beta
Each user with a donation of more than 0.01 bitcoins gets a client and an invitation to our beta program.
Each user with a donation of more than 0.1 bitcoins gets three clients with a lifetime 0% trading fee.


Phase 3

Public release client
In this phase we will apply a 0.001% trading fee on every trade. We will run this phase until we collect 3 times the donations. After we reach this goal we will recompense every supporters share multiplied by three and release our source code to the public. At the same time we will reduce the trading fee to 0%.



We hope to make the crypto world a bit better for those who are ready to listen with an open heart.
In the spirit of Satoshi Nakamoto



Team Freedom



(a big sorry for every grammatical error, english is not our native language)





Timeline:

Trade client

4 developers
Adam(Main-dev), Thomas, Florian and Bastian

4/1     Internal alpha
4/20     Beta release
5/1     Public release

After reaching our goal we will release the sourcecode.


Mining App

3 developers
Peter(Main-dev, thats me), Andreas and David

4/1     Mining-app alpha (standalone version)
4/20     Integration into the trade-client – joint beta release

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[TechieCFO]

Here is a quote from my post of 12-20-13

"bitcoin has no stable purchasing power. What item to peg its value to?
Of course, you are right, everything tangible fluctuates in value so
clearly Bitcoin cannot be pegged to anything.

By implementing an ability, within the wallet, to buy or sell BTC, current or on
a forward basis, the BTC system could collect very small fees, far far lower
than the fees charged by the exchanges, and hold these fees, in BTC, as reserves,
in the system, in a decentralized manner.

then, BTC has backing. that leads to stability of value. Without backing BTC will
fluctuate wildly every time a reasonable rumor surfaces. As long as that is the
case, BTC will not attract material (e.g.. $Trillions) investment.

the problem remains until we all admit its there and develop a solution.

i'd like to see BTC become a global currency, or even just distributed on 5 billion cell phones, each with
$50 of BTC in them for small payment opportunities. But, lets face it, if 7-11 accepts bit coins you can
be sure they've been sold and converted to real currency before you've walked out the door with your
bottle of water or soda. That is the problem. BTC has no stable purchasing power. No one wants to hold
it. Perhaps this will just change in the future? That's wishful thinking to me."

in a later post, i proposed Bitcoin is not decentralized at all because it relies on centralized exchanges.
I suppose you would agree. Apparently, from what I am seeing, Bitcoin is also centralized more and more
because mining depends on centralized pools. More and more I see this as a weakness, and that decentralization
cannot only lower costs, but it can also lower security risks.


Your project has merit. I haves worked in the software business a long time. Typically, an application should start with
a very low or zero cost. This lets people adopt and experiment, with only their time at risk. Later, as the application matures
and users recognize the application has value, then fees can be added because users will be able to accurately compute
their own ROI even considering a zero cost basis. People are rational. They know nothing good is free, but they appreciate a free
window of time (several years) to explore, experiment and think…just my two cents.

[bl4kjaguar]

I have long been interested in trading of BTC on a forward basis; this is a game-changing development towards that goal! 
I am the first donor. 

[blueangel01]

It is all words and pictures. Why would i trust a newbie like you?

[halibit]

There is so many points wrong, but first of all. Whole consept is more open for scam than any.
As you told us, you can manipulate trading fees.
So, you can take all coins out and we know even less about you, than we know cryptsy, gox btc-e etc..

You may be dreamers, or just a few scammers, but I can see you don't actually understand even basics about crypto currencies.

[blueangel01]

News: Scammers failed at the doorstep

[team-freedom_peter]

in a later post, i proposed Bitcoin is not decentralized at all because it relies on centralized exchanges.
I suppose you would agree. Apparently, from what I am seeing, Bitcoin is also centralized more and more
because mining depends on centralized pools. More and more I see this as a weakness, and that decentralization
cannot only lower costs, but it can also lower security risks.

Hello TechieCFO ! These are exactly our thoughts. The whole centralization problem gets slowly out of hand. Just look at ghash.io. They offered for a small period of time a higher mining reward in the litecoin network. That was enough to convince a high percentage of the litecoin miners.. With a steady rise in their hashing power, an attack on the network becomes more and more likely.

I have long been interested in trading of BTC on a forward basis; this is a game-changing development towards that goal!  
I am the first donor.  

Thank you ! Please don't forget to give us your email, if you want to participate in our beta program.

It is all words and pictures. Why would i trust a newbie like you?

Hello Blueangel, ofcourse it's just words and pictures for now. That's the reason why it's called an announcement. No need to trust us, we are not begging for anything. Please consider this thread the way it is meant to be: as an announcement. Just sit back and let us do our work, we hope to surprise you in april.

There is so many points wrong, but first of all. Whole consept is more open for scam than any.
As you told us, you can manipulate trading fees.
So, you can take all coins out and we know even less about you, than we know cryptsy, gox btc-e etc..

You may be dreamers, or just a few scammers, but I can see you don't actually understand even basics about crypto currencies.

Our main goal is to enable trustless trading among different blockchains. But we understand your concern. We will discuss options to enhance trust in the software without releasing source code immediatly. However, if no one is willing to participate in our beta to help us to release a stable and secure client, then we might just drop the source to the public. There is still plenty of time for discussion and we are not concerned about a deadline. In the end, we all work on this project in our free time.

Peter

[blueangel01]

Yes, i would like you to prove me wrong. it does require trust. Who knows there might be a malware/bug in the software that you will gives us.

Yes i will sit down and continue to watch the development.  I would appreciate it if you could delay your release until it is perfect. I  don't want to see "transaction malleability hack" again.