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Author Topic: Bitcoin Reissued: requesting Bitcoin community integration, decentralization  (Read 206 times)
Lock_Tightt (OP)
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July 13, 2024, 01:19:26 AM
 #1

I'm part of a group of developers reissuing Bitcoin as a tradable commodity with all-new supply, and enhanced security and scalability, something like Bitcoin2024 with a similar ticker symbol to Bitcoin. We want to fully integrate our efforts with the Bitcoin community and use our project innovations to strengthen the blockchain ecosystem. It's a secret project but will eventually go public. It's currently contained on only one node with one server. We want it to become a massive project, magnifying Bitcoin's global acceptance, increasing demand for Bitcoin, stabilizing Bitcoin's volatility and leading the way in fostering crypto deregulation by leveraging existing enforcement mechanisms to empower regulatory agencies without complicating the existing regulatory framework. In effect, wherever our Bitcoin Reissued cryptographs go, the world is safe to follow.

Key Questions:
What is/are the best way(s) to begin integrating with the Bitcoin community?

What is/are the best way(s) to rapidly decentralize it (by getting a lot of people to mine it) before listing it on exchanges?

What is/are the best way(s) we go about engaging unaffiliated third-party developers?
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July 13, 2024, 01:49:16 AM
Merited by ABCbits (1)
 #2

Unless it is done with the cooperation of Core devs it will be just another altcoin that is forked off of BTC just like BCH and the other crapcoins like it.

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Lock_Tightt (OP)
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July 13, 2024, 02:41:20 AM
 #3

So we need to attend a Bitcoin Core developer meeting on IRC to make introductions? Is there anything else I should do?
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July 13, 2024, 04:44:08 AM
 #4

I'm part of a group of developers reissuing Bitcoin as a tradable commodity with all-new supply, and enhanced security and scalability
You can make a new Bitcoin fork and it will die soon.

Quote
We want it to become a massive project
It is already a massive project in blockchain and cryptocurrency industry. It is also already massive in bringing blockchain technology to other areas and force governments to consider application of blockchain in many areas.

Quote
magnifying Bitcoin's global acceptance
Bitcoin adoption is already widely at global scale. The Bitcoin adoption map shows this fact and there are scarce nations which want to be against the global trend but they are going to change with time like Bolivia weeks ago.

https://newhedge.io/terminal/bitcoin/node-map
https://cointelegraph.com/news/bolivia-legalizes-bitcoin-crypto-transactions

Quote
increasing demand for Bitcoin
Demand increases naturally with adoption.

Quote
stabilizing Bitcoin's volatility
Stabilizing volatility to make the Bitcoin market less interesting and attractive to the crowd, I would love to see volatility as it is now.

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July 13, 2024, 08:50:54 AM
 #5

The way I see it, reissuing Bitcoin will just end up creating another altcoin, maybe something like BSV or Bitcoin Cash. Getting global acceptance is very hard when people are so focused on how Bitcoin really is. Even if you tried doing something like a soft fork, it would be complicated to gain support. But a restart feels like a new coin, and a new coin has a very tiny chance of even competing against Bitcoin seriously. Even if it solves some problems that Bitcoin is taking, there are bound to be some downsides, and people strongly support the status quo.
If you want it to succeed, I think you really need to work closely with the dev team and be very open about your project.

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Lock_Tightt (OP)
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July 13, 2024, 09:18:03 AM
Last edit: July 13, 2024, 09:52:21 AM by Lock_Tightt
 #6

You can make a new Bitcoin fork and it will die soon.

Not with market cap larger than Bitcoin  Shocked


Quote
It is already a massive project in blockchain and cryptocurrency industry. It is also already massive in bringing blockchain technology to other areas and force governments to consider application of blockchain in many areas.

Every single mining company in the world is actually losing money. They don't make money whatsoever.


Marathon Holdings is in debt $.34 Billion. And its stock price ($20.77) is down 87% from its all-time high ($154.77).
https://companiesmarketcap.com/marathon-digital-holdings/total-debt/
https://www.macrotrends.net/stocks/charts/MARA/marathon-digital-holdings/stock-price-history


Riot, the 4th largest mining company in the world, lost money every year since inception in 2009. And its stock price ($9.80) is down 99.97% from its all-time high ($3197.14).
https://www.macrotrends.net/stocks/charts/RIOT/riot-platforms/net-income
https://www.macrotrends.net/stocks/charts/RIOT/riot-platforms/stock-price-history


In fact, show me one mining company whose all-time high isn’t at least 50% higher than its current 52-week low. All major mining companies’ stocks’ 52-week lows are down at least 75% off their peaks- and don’t tell me CORZ scientific, they went bankrupt in 2022.


Bitcoin adoption is already widely at global scale. The Bitcoin adoption map shows this fact and there are scarce nations which want to be against the global trend but they are going to change with time like Bolivia weeks ago.

Demand increases naturally with adoption.

You contradicted yourself. By your own metric, Bitcoin has already been adopted at the global level- what’s next, the solar system?

But just like nobody makes money playing Hamster Kombat! nobody makes money trading cryptocurrencies. On 10/31/2016, there were 176M BTC traded in one day. In the last 24 hours, only 449,000 BTC traded.

BTC price keeps dropping as Bitcoin philosophers predict $1M in 2025 and $2M in 2030, lacking the capacity to resist sell-offs and unresponsive to support signals.

….

You don’t know who you’re talking to man.

This is not a crypto that people buy for profit, nor is it a utility token. We’re not talking demand for ROI. We’re talking sentimental demand and National Security. This is not a crypto to be taken lightly…

Yes I’m new to this. Satoshi Nakamoto didn’t end global poverty, war, diseases and insulate mankind from all future disasters and major catastrophes. This one does.
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July 13, 2024, 01:33:40 PM
Merited by ABCbits (2)
 #7

Quote
What is/are the best way(s) to begin integrating with the Bitcoin community?
You are doing it right now. The community is present on this forum. There are other channels, but as long, as you want to talk with users, and not with programmers, then this board is the way to go.

Quote
What is/are the best way(s) to rapidly decentralize it (by getting a lot of people to mine it) before listing it on exchanges?
Use Merged Mining. If mining your coin will require mining the original Bitcoin, then miners will have an incentive, to commit to your network, without any additional work.

Quote
before listing it on exchanges?
If you implement P2P market correctly, then you won't need exchanges. Because most of them are centralized, and it is better, if you can make trades directly from your wallet. You can read some code from version 0.1.0, to get an idea, how to start implementing it.

Quote
What is/are the best way(s) we go about engaging unaffiliated third-party developers?
Just write on technical board, with some details. Write about a particular feature: what is new, what it brings to the users, which you cannot see anywhere else, or what is done wrong somewhere else, and you can improve it. Just post technical questions, related to a particular thing, one at a time, and you will probably get some answers.

Quote
Unless it is done with the cooperation of Core devs it will be just another altcoin
If it will be just copy-pasted code (as it is done in 99% cases), then yes. But there are ways beyond that.

Quote
with all-new supply
Why you need any new coins at all, and not just pegging existing coins?

Quote
So we need to attend a Bitcoin Core developer meeting on IRC to make introductions?
I guess not. At the current stage, your idea will probably be rejected, unless it will be better explained in details somewhere.

Quote
Is there anything else I should do?
More details, more demos, more code samples, and things like that. Many people have many ideas, but sooner or later, if you want to create something serious, then you need to dig into details. And now, we only know about "all-new supply" (which is a bad idea, unless you have a good justification for it, like a new supply of non-monetary things, like domain names).

Quote
Not with market cap larger than Bitcoin
If you create completely new coins, you start from zero. If you have non-zero starting point, then it should be based on "something". Enormous Proof of Work? Wrapped fiat currencies? Existing signatures, used in a new way? If it is completely separated from everything we know, then why it should have any non-zero value, at the very beginning?

Quote
Every single mining company in the world is actually losing money.
So, why they are mining? For fun? As a charity? Are people that rich, so they can put their coins into fireplace? Do they need to report some losses to avoid taxes?

Quote
Satoshi Nakamoto didn’t end global poverty, war, diseases and insulate mankind from all future disasters and major catastrophes. This one does.
How? In the first place, not every human has a computer. Not every human can access the Internet. So, not every human can even use fiat currencies in their digital form, through online banking, not to mention Bitcoin. There are also places, where there is no electricity. So, how do you want to make it running, without any power supply? Because "global poverty" is a huge topic, including also those, who are tech-illiterate, and never used the Internet at all.

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legiteum
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July 13, 2024, 03:09:00 PM
 #8


I'm part of a group of developers reissuing Bitcoin as a tradable commodity with all-new supply, and enhanced security and scalability, something like Bitcoin2024 with a similar ticker symbol to Bitcoin.


Why waste time doing all of that software development when you can just create a Haypenny Coin in a few minutes? The platform is extremely scalable (the lowest-latency digital currency on the planet), and very secure with transactions being written simultaneously to multiple geographical locations within a few milliseconds.

(But don't call your currency "Bitcoin" or anything with the word "bitcoin" in it, as it will get bounced out by the editorial controls for trademark violations).


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NotATether
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July 14, 2024, 05:12:25 AM
 #9

So we need to attend a Bitcoin Core developer meeting on IRC to make introductions? Is there anything else I should do?

Whatever ideas you have, you could try to ask Core developers, but you're unlikely to get a response from them. Your best course of action is to avoid using Bitcoin branding at all,  because that is going to make your project look more suspicious.

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July 14, 2024, 05:20:05 AM
 #10

Yes I’m new to this. Satoshi Nakamoto didn’t end global poverty, war, diseases and insulate mankind from all future disasters and major catastrophes. This one does.
That is a bold statement to make. Satoshi's objective was none of those. They were NOT gods. Roll Eyes

Also that coin which can do all that, is too good to be true among other red flags.

Mining companies might be reeling under losses, but if their miners stop, more miners will come up to fill the void and balance the demand. That is how this system is designed. Why would someone buy stocks in mining companies anyway? Rather they should buy bitcoin.

 
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July 14, 2024, 12:33:09 PM
 #11

I'm part of a group of developers reissuing Bitcoin as a tradable commodity with all-new supply, and enhanced security and scalability, something like Bitcoin2024 with a similar ticker symbol to Bitcoin. We want to fully integrate our efforts with the Bitcoin community and use our project innovations to strengthen the blockchain ecosystem. It's a secret project but will eventually go public. It's currently contained on only one node with one server. We want it to become a massive project, magnifying Bitcoin's global acceptance, increasing demand for Bitcoin, stabilizing Bitcoin's volatility and leading the way in fostering crypto deregulation by leveraging existing enforcement mechanisms to empower regulatory agencies without complicating the existing regulatory framework. In effect, wherever our Bitcoin Reissued cryptographs go, the world is safe to follow.

Key Questions:
What is/are the best way(s) to begin integrating with the Bitcoin community?

What is/are the best way(s) to rapidly decentralize it (by getting a lot of people to mine it) before listing it on exchanges?

What is/are the best way(s) we go about engaging unaffiliated third-party developers?
This Bitcoin forum helps to enlighten the Bitcoin ecosystem about new projects like this and when such an idea is presented here, you would have engaged interested developers and investors and would have began integration without much expenses.
A great review to cover what paid advert or campaigns would offer is one way that such an idea would attract the right crowd here and you should be willing to answer the questions asked here as well as make intelligent points as to why bitcoin being reissued is the best option to promote Bitcoin currently and for the future.

There's never been a better initiative that has worked better than the P2P trading system. Be it within or without a decentralized system, the P2p idea has been more popular before exchanges began to function at best and it would be a great starting point to test out this idea until it is made more common for use on exchanges with just a click of button.

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July 14, 2024, 02:43:33 PM
 #12

Talk to the Bitcoin experts first. Show them the usability of your project. Gain their acceptance. Bitcoin represents freedom and decentralization. Thus, let new miners easily join your game. Give well defined directions and incentives. Partner with current mining pools.

Any project is based on developers. Respect them; provide them tools; and praise their creativity. Since they are part of something significant, help them to feel as such. Bitcoin is the advancement since sliced bread. This is the future. Talk about it to friends and relatives. Dont push too hard. The truth will emerge, trust me. Bitcoin speaks for itself. Its the best truth we've got. And keep in mind, folks, we all win this game.

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July 15, 2024, 03:14:08 AM
Merited by vjudeu (1)
 #13

Please don't send shitcoiners to talk to Bitcoin developers.

Bitcoin developers have somewhere between 0 and negative infinity desire to talk to shitcoiners.

This is not to say that someone somewhere might not be able to create some alternative cryptocurrency which is useful and valuable to the world.  Best of luck to them, at least if they have something worthwhile to offer the world.

Seigniorage (or at least the delusional fantasies that people have around how rich they think it's going to make them) is an addictive drug.  Like other addicts, people looking to get rich quick by issuing some tokens are often obnoxious to deal with.   You should think of them as heroin addicts.  Sending them to bitcoin devs is like encountering some junkie on the street and telling them to head over to the neighboring medical clinic for some "pain relief".

Now, of course, not everyone with starry eyed dreams of seigniorage riches is going to react to being turned away with abuse and threats, but enough do (and have) that by 2013 any Bitcoin developer was more than thoroughly fed up with hearing from any of them.  Those who are interested in altcoinery (and the kinds of people and projects it attracts) are *already* in that space, people who aren't and whom only work on Bitcoin do so because they're not.   They certantly don't want to hear yet another grand idea from yet another would be hype-man in the thrall of mania.
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July 15, 2024, 09:30:06 AM
 #14

Quote
What is/are the best way(s) to rapidly decentralize it (by getting a lot of people to mine it) before listing it on exchanges?
Use Merged Mining. If mining your coin will require mining the original Bitcoin, then miners will have an incentive, to commit to your network, without any additional work.

With merge mining, OP might as well as create sidechain or L2 instead. And statement "without any additional work" isn't exactly true, when someone need to run OP's full node software and integrate it with their mining pool software without accidentally creating invalid block or invalid data for merge mining. ANd it's worth to mention only some mining pool perform merge mining for one or more other networks.

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July 16, 2024, 06:59:37 AM
 #15

They certantly don't want to hear yet another grand idea from yet another would be hype-man in the thrall of mania.
I'm extremely sorry.
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July 20, 2024, 09:12:17 AM
 #16

I'm extremely sorry.
Don't let me get you down too much by taking out on you the wrongs of all who came before.  Rest assured that any ill done is at most only partly your fault.  Grin  My rant wasn't directed at you, it was a reminder to everyone else to not rush to make that suggestion.
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July 22, 2024, 06:15:34 AM
 #17

I'm extremely sorry.
Don't let me get you down too much by taking out on you the wrongs of all who came before.  Rest assured that any ill done is at most only partly your fault.  Grin  My rant wasn't directed at you, it was a reminder to everyone else to not rush to make that suggestion.

The OP shouldn't give up his passion for a new project, however, I agree with you. Many are trying to get out of their socks to replicate the BTC success, features, or do something that would correlate with it, but I would say that it's far better off trying to do something entirely new, be it altcoins, shitcoins, you name it.

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July 22, 2024, 06:29:36 AM
 #18

Key Questions:
What is/are the best way(s) to begin integrating with the Bitcoin community?
Participating in forums and making sure your project has much exposure is important. Make sure that everyone is well informed about your project and the details about it.
Quote
What is/are the best way(s) to rapidly decentralize it (by getting a lot of people to mine it) before listing it on exchanges?
Gaining rewards would be the fastest way to attract people. Giving out incentives to early miners would help them want to mine it early on.


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July 23, 2024, 01:23:07 AM
 #19

Don't let me get you down too much by taking out on you the wrongs of all who came before.  Rest assured that any ill done is at most only partly your fault.  Grin  My rant wasn't directed at you, it was a reminder to everyone else to not rush to make that suggestion.

I'm told by my developers I can list Bitcoin21x at any listing price. What do you think about if I listed it at $1,549,381.47, 21x the price of Bitcoin's peak? It would be a truly stable coin and possibly merit use as the world's reserve currency, without affecting Bitcoin. It would sit atop Bitcoin on any coin ranking with market cap of $1.5T with only 1M coins. Releasing new blocks at a rate of 21x, it would release 10M coins in 2.3 months, with a market cap of $15T and rule the cryptocurrency world forever. 1 satoshi21x would be worth ~$.02.

There is also the notion of listing Bitcoin21x (or "Bitcoin Reserve") at, say, $1,000,000,000 ($1 Billion). 1M coin Market Cap $1,000,000,000,000,000,000 ($1 Quadrillion). 1 satoshiRES would be worth $10.

Or $10,000,000? And 1 satoshiRES worth $.1?

In your opinion, are any of these a preferable option? There's no way the price would ever drop in a standard pattern. People buying Bitcoin21x (Bitcoin Reserve) in small amounts, placing a large number of orders, locks in the price through supply and demand...
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