[ANN] ORA :: NXT 'monetary system' currency

[Equate]

Yeap i think we can accomplish this in a week. The name is Ora.

It will be great if it gets accomplished in week , thanks for your efforts.

[DarkhorseofNxt]

Max coin : 1,000,000,000.

So stakeholders will be receiving 166,666.666 by math. Lets make it 166,666 assets (ora) per stake holder. For now. Hope everyone is okay with that. The 0.666 will be kept together with the bounty allocation. Any concerns please advice.

[Kora]

2. I got my answers from Kora. Its fine.

3. I didnt put my question properly i think. My question is how many stakes to be issued? Is it 3000 stakes? We will be issuing only the 50% of total stakes right? This is to avoid multiple stakes issuance and to reduce the asset issuance fee which is 1000 nxt per asset issuance. I would like to be a little cost effective here.

4. Would be nice to know to answer to the question, how many coins to a stake if someone ask you. Thats all. No drama here. I like to clarify grey areas. Nothing more.

So moving forward, i think the flow would be like this. 3000 stakes will be issued in nxt ae. Then 1000+ stakes will be distributed in the ae. Then we will vote what we will be doing with the left over stakes and redistribute.

Any concern please advice.

Good suggestion Darkhorse! Time to get some numbers on paper

My preference is to make the 'round 1' distribution on the original assumption of 3K stakeholders, so we'll distribute as if we had reached the target of 3K. Then we vote, and either keep the stakes for a 'round 2', or distribute to the original 'round 1', or increase % for power bounties, or some combination of all three.

We'll have plenty of time to put together a vote that covers all options after the round 1 distribution. My preference is probably for a combination - some stakes left in reserve for 'round 2' & a top up for 'round 1' people, and maybe some stakes for the Logo design and other bounty payments for people helping out now.

If we assume 1 billion ORA coins, that means 50% (i.e. 500 Million) will be divided up 3000 ways, so a 'round 1' stake would be ~166,666.67 coins. I think that's a modest amount for a stake, but for a freebie with no obligation to do anything it's OK.

Hopefully people will consider the number of coins available to pay people 'power bounties' from community funds, and that'll get people motivated to do things.

25% in the 'power bounties' fund would be 250,000,000 ORA coins!! That's not a modest amount, and that's by design


edit: good, we got the same number Darkhorse 1 round 1 stake = ~166,666 coins

[DarkhorseofNxt]

2. I got my answers from Kora. Its fine.

3. I didnt put my question properly i think. My question is how many stakes to be issued? Is it 3000 stakes? We will be issuing only the 50% of total stakes right? This is to avoid multiple stakes issuance and to reduce the asset issuance fee which is 1000 nxt per asset issuance. I would like to be a little cost effective here.

4. Would be nice to know to answer to the question, how many coins to a stake if someone ask you. Thats all. No drama here. I like to clarify grey areas. Nothing more.

So moving forward, i think the flow would be like this. 3000 stakes will be issued in nxt ae. Then 1000+ stakes will be distributed in the ae. Then we will vote what we will be doing with the left over stakes and redistribute.

Any concern please advice.

Good suggestion Darkhorse! Time to get some numbers on paper

My preference is to make the 'round 1' distribution on the original assumption of 3K stakeholders, so we'll distribute as if we had reached the target of 3K. Then we vote, and either keep the stakes for a 'round 2', or distribute to the original 'round 1', or increase % for power bounties, or some combination of all three.

We'll have plenty of time to put together a vote that covers all options after the round 1 distribution. My preference is probably for a combination - some stakes left in reserve for 'round 2' & a top up for 'round 1' people, and maybe some stakes for the Logo design and other bounty payments for people helping out now.

If we assume 1 billion ORA coins, that means 50% (i.e. 500 Million) will be divided up 3000 ways, so a 'round 1' stake would be ~166,666.67 coins. I think that's a modest amount for a stake, but for a freebie with no obligation to do anything it's OK.

Hopefully people will consider the number of coins available to pay people 'power bounties' from community funds, and that'll get people motivated to do things.

25% in the 'power bounties' fund would be 250,000,000 ORA coins!! That's not a modest amount, and that's by design

I gotcha!

[Kora]

We have an ETA for the distribution script of 3-5 days!

That means I think we can plan to have the distribution for 'round 1' stakes completed in ~1 week!!

I can also announce that "fragout" has kindly agreed to be a second community treasurer along with Darkhorse.

Once NXT introduces multisig accounts Darkhorse & fragout will be "keepers" of the undistributed Ora coin tokens held back for bounties, and a *possible* 'round 2' distribution, depending on how the vote goes.

Thanks fragout

ETA of 1 week sounds good but shouldn't the coin name be changed before stake distribution.

I'm going with ORA from now on. Should we make a new thread? I'm happy to stay here in this thread for now, but maybe after the distribution we should start a new fresh ORA thread.

"ORA, begat of Kora, descendent of Qora" (sounds a bit old testament now )

[testadimerlo]

Hi guys, I had a holiday so I didn t follow the last updates. I checked the stakeholder list, I m there but in the space " NXT Address Found in Explorer (0/1)"  it is 0. What does it mean? I m ok or should I change something to get my stake?
thanks for the reply

[freigeist]

I'm going with ORA from now on. Should we make a new thread? I'm happy to stay here in this thread for now, but maybe after the distribution we should start a new fresh ORA thread.

"ORA, begat of Kora, descendent of Qora" (sounds a bit old testament now )

If you don't want to open new thread you can change the thread title
and also add link on the 1st page to the page in this thread where the changes and the new name
is announced.

I don't like when there are 20 threads to follow that the reason I'm suggesting you keep this thread
but from the other point of view opening a new thread can be beneficial for marketing purposes maybe.

[DarkhorseofNxt]

Change this title of thread. No need for a new thread. Betterstill use this till we have our own forum.

[DarkhorseofNxt]

Hi guys, I had a holiday so I didn t follow the last updates. I checked the stakeholder list, I m there but in the space " NXT Address Found in Explorer (0/1)"  it is 0. What does it mean? I m ok or should I change something to get my stake?
thanks for the reply

Please read Mac red's post in previous post. Most likely you have not made your account secured. That means no public key. Do an outgoing transaction, send nxt, send a msg or buy an alias. This activates your public key which secures your account.

[PL_CoinTrader]

I'm not really up to date so I was wondering whether Qora's sourcecode has been released and devs already working?
kind regards

[davien]

Max coin : 1,000,000,000.

So stakeholders will be receiving 166,666.666 by math. Lets make it 166,666 assets (ora) per stake holder. For now. Hope everyone is okay with that. The 0.666 will be kept together with the bounty allocation. Any concerns please advice.

this sounds good for me also, DarkhorseofNxt! if we get too much the value might go down... so we need to find a good amount and i think this could be a good one.
 
And yes i think we should change the title of the topic for people to get accustomed to Ora!

[LemonAndFries]

thanks for the stake!

good developments from what I  have followed with Kora so far 

[fragout]

We have an ETA for the distribution script of 3-5 days!

That means I think we can plan to have the distribution for 'round 1' stakes completed in ~1 week!!

I can also announce that "fragout" has kindly agreed to be a second community treasurer along with Darkhorse.

Once NXT introduces multisig accounts Darkhorse & fragout will be "keepers" of the undistributed Ora coin tokens held back for bounties, and a *possible* 'round 2' distribution, depending on how the vote goes.

Thanks fragout

Hi all.

My main task in this venture is to aid in the distribution of bounty stakes and provide a second line of defense on the accounts through multi sig.

It is my first involvement in a new coin directly, but I have been involved in crypto currencies for almost 2 years, mining, trading and selling locally (local bitcoins)

Ignore the Satoshi Bet avatar as it is impossible to remove avatars on bitcointalk at the moment. I intend to set up a new account on BTT more fitting the image ORA shortly.

[baby222]

This is to everyone.

Before we can distribute the stakes on nxt ae, we need to iron out certain things. Can we decide this lets say 7 days from today? Please get yourself involved.

1. Decide the name. I would like the stakes distributed with the correct name.

2. Confirmation of the distribution as per given by kora. (I have a concern, i have emailed to kora regarding this).

3. Total number of stakes.

4. Total number of coins. This will not effect the asset/stakes issuance but will be good to decide on this fast.

Thanks Darkhorse!!

Here's my 2 cents:

1. Name is "Ora"
2. I'm happy with the distribution of stakes I came up with, but very open to other opinions (see OP for distribution %'s)
3. I prefer that we distribute the ~1000 stakes and then vote, (options include: save stakes for a round 2, distribute to existing stakeholders, use for bounties, combinations)
4. I prefer Max coin number - 1,000,000,000

I prefer to distribute coin tokens on the AE and not single stake tokens like NEM did.

The more I think about things, the more I realise the true power of the NXT voting system to organise ourselves, and from looking over the proposed NXT voting system, if we use "asset based" voting the fee for each vote would be 1 Ora asset. That makes me think it's better to have a higher number of coins, so each vote costs less, so the cost of having a direct democracy (where we vote on lots of issues) wont be too high.

https://nxtforum.org/voting-system/final-notes/

nxt voting system is the best to decide the left stakes , so cool

[testadimerlo]

Hi guys, I had a holiday so I didn t follow the last updates. I checked the stakeholder list, I m there but in the space " NXT Address Found in Explorer (0/1)"  it is 0. What does it mean? I m ok or should I change something to get my stake?
thanks for the reply

Please read Mac red's post in previous post. Most likely you have not made your account secured. That means no public key. Do an outgoing transaction, send nxt, send a msg or buy an alias. This activates your public key which secures your account.

thanks for the help. I m sorry for the delay but I had a holiday and didn t follow the forum. So, if I want to send a message do I need to buy some next? I tried to send a message and it always say to me " incorrect secret phrase", I don t understand why cause the secret phrase is the same but it doesn t work!   Anyway, now I try to fix

[testadimerlo]

Update.  

Things are going smoothly. We'd like for people with no NXT address in the block explorer ("0" in the third column) to get some more time to fix this. Three extra days should be reasonable considering this requirement was well known before registrations even opened.

This also gives some more time for those who wants to switch/fix their NXT addresses.
After this we can move on to distribution.

Of course, until the guy who'll deliver the stakes is ready there's always room for adjustments as well.

hi mac, i m going to fix this problem ( I hope ) within tommorrow it will be ok, sorry for the delay!

[Kora]

We have an ETA for the distribution script of 3-5 days!

That means I think we can plan to have the distribution for 'round 1' stakes completed in ~1 week!!

I can also announce that "fragout" has kindly agreed to be a second community treasurer along with Darkhorse.

Once NXT introduces multisig accounts Darkhorse & fragout will be "keepers" of the undistributed Ora coin tokens held back for bounties, and a *possible* 'round 2' distribution, depending on how the vote goes.

Thanks fragout

Hi all.

My main task in this venture is to aid in the distribution of bounty stakes and provide a second line of defense on the accounts through multi sig.

It is my first involvement in a new coin directly, but I have been involved in crypto currencies for almost 2 years, mining, trading and selling locally (local bitcoins)

Ignore the Satoshi Bet avatar as it is impossible to remove avatars on bitcointalk at the moment. I intend to set up a new account on BTT more fitting the image ORA shortly.

Thanks for your help fragout!!

fragout was one of the first people to PM me a couple of months ago and offer to help with the NXT AE distribution.

ORA gets stronger with every new person who offers to contribute in some way, and it makes it easier for new people to join in too! Even if you're not a hard core crypto person, you can still find a meaningful way to contribute to the ORA experiment, and you don't have to be a dev either. Posting ideas and joining in with discussions and expressing your opinions *really* helps, and remember, you don't have to ask for permission to get involved.

If you think of something useful you'd like to do, just start doing it, and let others know too, so they can join in & help you do it!! Even small actions can cause big OUTCOMES, especially your good ideas that others pick up and run with!

Join in & have FUN!!

I've changed the name in thread title to 'ORA'!! It looks a lot better IMO

[Mac Red]

@fragout
Welcome! Exciting to see more people join the project.

@testadimerlo
No worries.

To recieve some free NXT and get a 1 in the third column, fill out your info on this page:
http://nxtra.org/faucet/

Then just wait until the next update of the stakeholder list (I run one daily) and you should be fine.

To send NXT and get a 1 in the forth column, send any amount to anybody. For example, nxtra.org has a donation address you can send back to.
If it says your phrase is incorrect make sure there are no blank spaces in it (paste it first in a blank .txt file to check).

@Kora
Nice! Looks much better IMO. I guess we'll need a new domain name (and account for you, lol).  

[Kora]

@fragout
Welcome! Exciting to see more people join the project.

@testadimerlo
No worries.

To recieve some free NXT and get a 1 in the third column, fill out your info on this page:
http://nxtra.org/faucet/

Then just wait until the next update of the stakeholder list (I run one daily) and you should be fine.

To send NXT and get a 1 in the forth column, send any amount to anybody. For example, nxtra.org has a donation address you can send back to.
If it says your phrase is incorrect make sure there are no blank spaces in it (paste it first in a blank .txt file to check).

@Kora
Nice! Looks much better IMO. I guess we'll need a new domain name (and account for you, lol).  

I've just registered ORA.to domain name!

I might keep this 'Kora' account active for a little while longer and maybe change if/when we get our own forum.

Too many name changes too quickly might give me a head ache lol

[DarkhorseofNxt]

@kora

Good work in changing the thread title. Looks better now. I will create the new ora account in a while. I will be needing the 1000 nxt for the asset issuance. I will mail you the nxt account number. Also have you spoken to the dev thats going to do the auto distribution? Give it 3 days, if no outcome i will do the distribution manually if that is needed, i can do it.

To speed up things, how about offering a bounty of 1 ora stake for the best logo design?


@ mac red, how many more with unsecured account?

P.s keep the kora name for now and also change the name in OP.