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

[Moon Follow Me]

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

this is really weird that you want to use nxt voting system instead of same qora feature which works very well

[Kora]

@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.

Thanks Darkhorse!

I'll send you the 1000 NXT for the asset fee asap. We'll need to come up with a text blurb to describe the asset, but I'll try and make a first draft for comment later today. We can always make the description brief and direct people to the ora.to website for more details, that will give us more flexibility to modify things and not have incorect information on the asset description. As far as I know you can't change anything to do with the NXT asset once it's issued, so if we direct people to the website for details we can overcome that limitation.

I haven't spoken to the dev doing the distribution script today, but I'm confident that we'll be good to go within a week. As we'll be the first (as far as I know) to use an automated asset distribution system, I'm hopeful it will get some attention from regular NXT followers who will be interested to see us succeed with the auto distribution.

The same goes for the using the NXT voting system, if we're the first we might attract a few NXT 'heavy hiters'  with advice & tips on how to make it work the best.

[bacxuyen]

How many stakes you save for a round 2?

2000 stake 

It's so much. Round 1: you have 1000 register. I think you should make round 2 but only more 200 free stake.

We will have 1200 stake. Almost all register to round 1. If it's so much at round 2, you will create several scammers.

500M/1200 = 416,666 asset/stake : OK

I hope you will think about it. Good success coin!

[hala]

Ora is well. i like this.

We will hit on AE . 

[DarkhorseofNxt]

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

this is really weird that you want to use nxt voting system instead of same qora feature which works very well

Asset will be issued in Nxt Ae. So why do you want to use qora voting instead of nxt? Dont understand this.

[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.

Thanks Darkhorse!

I'll send you the 1000 NXT for the asset fee asap. We'll need to come up with a text blurb to describe the asset, but I'll try and make a first draft for comment later today. We can always make the description brief and direct people to the ora.to website for more details, that will give us more flexibility to modify things and not have incorect information on the asset description. As far as I know you can't change anything to do with the NXT asset once it's issued, so if we direct people to the website for details we can overcome that limitation.

I haven't spoken to the dev doing the distribution script today, but I'm confident that we'll be good to go within a week. As we'll be the first (as far as I know) to use an automated asset distribution system, I'm hopeful it will get some attention from regular NXT followers who will be interested to see us succeed with the auto distribution.

The same goes for the using the NXT voting system, if we're the first we might attract a few NXT 'heavy hiters'  with advice & tips on how to make it work the best.

First i will be creating an account with a minimum 50 characters password. Ensuring the safety of the passphrase first.

You are correct. Once issued you cannot re-edit the description. So come up with a good asset description and then send me them (description + fee) together. Should be able to do it today.

Also heads-up, i will be away on holidays from friday this week until tuesday next week. I wont have any access to pc and maybe only contactable by mobile. So the faster we do this, the better.

[qiwoman2]

Here is the CHINESE ANN translation done with love form my Hubby..he worked on it over the weekend...

https://bitcointalk.org/index.php?topic=702901.msg7946003#msg7946003
Enjoy..

 

oH AND GOOD News MY NXT wallet finally synced and I made an outgoing transaction so should be good on the blockchain now..

[helloge]

Ora is well. i like this.

We will hit on AE . 

it seem Ok and easy to remember,
glad to see on the AE.

[testadimerlo]

@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).  

thank you very much mac, I received and sent one next so it should be ok!

[g3rszpi]

Somebody suggested here to make a `refferal program` to distribute the leftover stakes.
Did you heard of Latium? You can hear about it everywhere over the forum.Some madmans are posting refferal links over everywhere and a lot of people are getting annoyed by these. They are getting annoyed, they start to fight with those madmans and they don't even get interested in the coin even if it's a good coin cause they are shouting everywhere that is a scam because of this agressive referal stuff .   (I don`t say that it`s a good coin or shitcoin because i`m not interested in it so...)
I think if you make a distribution by a refferal program also Ora can fall in a trap like Latium.
Just an oppinion.

[Mac Red]

How many stakes you save for a round 2?

2000 stake  

It's so much. Round 1: you have 1000 register. I think you should make round 2 but only more 200 free stake.

We will have 1200 stake. Almost all register to round 1. If it's so much at round 2, you will create several scammers.

500M/1200 = 416,666 asset/stake : OK

I hope you will think about it. Good success coin!

You do bring up a valid point. Using the same system, the risk of sockpuppets will be greater for each new opening. Sure we'd mix things up trying to prevent this but yeah. They could start learning how to get on the list.

IMO if there'll be more openings it's only reasonable to give this first batch more (for example 2x stakes).

[DarkhorseofNxt]

We will discuss this over the vote. That being said pls bring in your thoughts. 1200 or 2 +1 seems good to me.

[Forobitcoins]

We will discuss this over the vote. That being said pls bring in your thoughts. 1200 or 2 +1 seems good to me.

Largest amount = higher distribution (users sell excess, easier to buy)

Quantity smaller = less distribution (users maintain, difficult to buy)

paradoxical

XD

[mladen00]

my vote goes for 1000+200 stakes

from new 200 stakes  maybe we can give invitation (20 stakes) to some active important member of btt community

[Kora]

First i will be creating an account with a minimum 50 characters password. Ensuring the safety of the passphrase first.

You are correct. Once issued you cannot re-edit the description. So come up with a good asset description and then send me them (description + fee) together. Should be able to do it today.

Also heads-up, i will be away on holidays from friday this week until tuesday next week. I wont have any access to pc and maybe only contactable by mobile. So the faster we do this, the better.

I've been reading other asset descriptions and the DORC one is very general, but covers the 'legal' aspects very well. I'm thinking we can base ORA asset blurb heavily on this:

1. DORCS ASSETS are bearer assets issued via a digitally signed certificate on the NXT AE. 2. The issuer maintains no records of who owns the assets. 3. Ownership is transferred by transferring the digital certificate representing a particular asset. 4. Whoever can demonstrate ownership of the private-key securing the certificate is presumed to own the asset. For a more detailed description of the Asset, please refer to http://www.dorcsgames.com/nxtaedescription/

Then we put all the details on the website http://ora.to. Speaking of website, who can whip up a quick page for our new domain?

@Darkhorse, enjoy your holiday, if we get the asset listed before you go great, but we may not have time for the distribution before Friday, but that's fine with me. We can take a bit more time and avoid mistakes. One thing I'm still unsure of is when we use NXT voting system my understanding is the user pays a 1 NXT fee for the transaction AND they also pay a fee in the asset (i.e. a vote will cost 1 ORA asset as well). Is that how others read the situation?

[*Sakura*]

I think we need to think about the system of incentives for long-term investors.
For example, if the participant has not sold more than 10% by the end of the month, he should be rewarded.
Need to determine the size of the reward.
This will help keep acceptable prices on the market.

[Kora]

How many stakes you save for a round 2?

2000 stake  

It's so much. Round 1: you have 1000 register. I think you should make round 2 but only more 200 free stake.

We will have 1200 stake. Almost all register to round 1. If it's so much at round 2, you will create several scammers.

500M/1200 = 416,666 asset/stake : OK

I hope you will think about it. Good success coin!

You do bring up a valid point. Using the same system, the risk of sockpuppets will be greater for each new opening. Sure we'd mix things up trying to prevent this but yeah. They could start learning how to get on the list.

IMO if there'll be more openings it's only reasonable to give this first batch more (for example 2x stakes).

That's a good point! I think if we have a round 2 it could be very different, especially if we have made some dev progress, and the ORA asset has achieved even a small stable value. I like the idea of some round 2 stakes being given away in a lottery (i.e. random process), and some given away for people doing things, like promotion & translations. We can also use some of the left over stakes to say 'thank you' to the community treasurers & other people offering to do useful things now, like Logos etc.

I'd like to have a chat/shoutbox/IRC up and running asap so we have somewhere to communicate better, and eventually our own forum. It's probably a little early for starting any committees, but we can build the tools now in preparation for them.

Anybody who does these tasks should be compensated IMO, as that's the purpose of the 25% for power bounties - paying people based on peer recognition of good service to the common good of all ORA stakeholders!

[Mac Red]

@DarkhorseofNxt
Of course, I was just thinking out loud.

Here are some stats as of this moment (just updated list).

Total entries on list: 988
106 does not appear in the NXT block explorer ("0" in third column).
Since this number is still quite high I may have to send out a reminder to people.

Also, 190 have not secured their account by making an outgoing transaction ("0" in forth column).

*Sakura*
@Great idea IMO to reward people for keeping their stakes.

[cexylikepie]

When is the expected launch for the asset exchange?

[*Sakura*]

*Sakura*
@Great idea IMO to reward people for keeping their stakes.

Maybe we will vote on this? Poll?