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

[Kora]

sorry if this has been said before but I can not see in the front page..how many ora coins will be available in total? I know we are around 800 stakeholders, its to calculate how many coins are per stake

I second that question.

I particular:

-Any decision on the total (K) Ora supply. OP suggests 50 mil, is this still valid and is any decision been made?

-About NXT AE stakes – are they gonna be NEM, style i.e.  One stake representing a lot future coins and divisible in up to 10 parts, or it will reflect the actual # of future shares?

- Voting on things is great. Voting on one and the same thing over and over is not likely to produce hugely different results. So, I or you not liking the result of the vote will not change it! Please just say you have decided to give the remaining stakes - 50% to current stake holders and the other 50% are kept and at a later point in time decision will be made on the best way to distribute them.

Good questions!

- Coin supply is 10 billion 1 billion
- Each stakeholder will get ~166,666 ORA assets
More details in this post: https://bitcointalk.org/index.php?topic=620518.msg7936981#msg7936981

I agree with you that endless voting would be pointless, but I put up the original poll thread before I thought of using the NXT voting system. I think a forum poll, is just that, an 'opinion poll', whereas using the NXT voting system is a form of 'direct democracy', and I think the latter is far superior.

I promise I wont be advocating votes too often (maybe never once the distribution is over), but for the left over stakes issue it makes sense to get an EXACT answer, rather than use a simple survey, plus ORA is an 'experiment', and using the NXT voting system to help with decision making in a decentralised organisation is quite historic, and ORA will probably be the first!! That's too good an opportunity to resist

The poll only had ~150 people reply, and maybe not all were stakeholders (some might have been sockpuppets who were removed). The great thing about a vote is it can be optional, so anyone who doesn't want to participate doesn't have to, so there's no inconvenience. We can however, restrict the voting to ORA stakeholders only, and that'll be important for the future.

[Spayse]

sorry if this has been said before but I can not see in the front page..how many ora coins will be available in total? I know we are around 800 stakeholders, its to calculate how many coins are per stake

I second that question.

I particular:

-Any decision on the total (K) Ora supply. OP suggests 50 mil, is this still valid and is any decision been made?

-About NXT AE stakes – are they gonna be NEM, style i.e.  One stake representing a lot future coins and divisible in up to 10 parts, or it will reflect the actual # of future shares?

- Voting on things is great. Voting on one and the same thing over and over is not likely to produce hugely different results. So, I or you not liking the result of the vote will not change it! Please just say you have decided to give the remaining stakes - 50% to current stake holders and the other 50% are kept and at a later point in time decision will be made on the best way to distribute them.

Good questions!

- Coin supply is 10 billion
- Each stakeholder will get ~166,666 ORA assets
More details in this post: https://bitcointalk.org/index.php?topic=620518.msg7936981#msg7936981

I agree with you that endless voting would be pointless, but I put up the original poll thread before I thought of using the NXT voting system. I think a forum poll, is just that, an 'opinion poll', whereas using the NXT voting system is a form of 'direct democracy', and I think the latter is far superior.

I promise I wont be advocating votes too often (maybe never once the distribution is over), but for the left over stakes issue it makes sense to get an EXACT answer, rather than use a simple survey, plus ORA is an 'experiment', and using the NXT voting system to help with decision making in a decentralised organisation is quite historic, and ORA will probably be the first!! That's too good an opportunity to resist

The poll only had ~150 people reply, and maybe not all were stakeholders (some might have been sockpuppets who were removed). The great thing about a vote is it can be optional, so anyone who doesn't want to participate doesn't have to, so there's no inconvenience. We can however, restrict the voting to ORA stakeholders only, and that'll be important for the future.

I think you have a mistake here.

I read this post: https://bitcointalk.org/index.php?topic=620518.msg7936981#msg7936981

And:

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.

[LemonAndFries]

I've been watching and still am amazed at free coins like this.

Devs like this one have helped individuals like me in ways they might never know.

Thank you!

[Kora]

sorry if this has been said before but I can not see in the front page..how many ora coins will be available in total? I know we are around 800 stakeholders, its to calculate how many coins are per stake

I second that question.

I particular:

-Any decision on the total (K) Ora supply. OP suggests 50 mil, is this still valid and is any decision been made?

-About NXT AE stakes – are they gonna be NEM, style i.e.  One stake representing a lot future coins and divisible in up to 10 parts, or it will reflect the actual # of future shares?

- Voting on things is great. Voting on one and the same thing over and over is not likely to produce hugely different results. So, I or you not liking the result of the vote will not change it! Please just say you have decided to give the remaining stakes - 50% to current stake holders and the other 50% are kept and at a later point in time decision will be made on the best way to distribute them.

Good questions!

- Coin supply is 10 billion
- Each stakeholder will get ~166,666 ORA assets
More details in this post: https://bitcointalk.org/index.php?topic=620518.msg7936981#msg7936981

I agree with you that endless voting would be pointless, but I put up the original poll thread before I thought of using the NXT voting system. I think a forum poll, is just that, an 'opinion poll', whereas using the NXT voting system is a form of 'direct democracy', and I think the latter is far superior.

I promise I wont be advocating votes too often (maybe never once the distribution is over), but for the left over stakes issue it makes sense to get an EXACT answer, rather than use a simple survey, plus ORA is an 'experiment', and using the NXT voting system to help with decision making in a decentralised organisation is quite historic, and ORA will probably be the first!! That's too good an opportunity to resist

The poll only had ~150 people reply, and maybe not all were stakeholders (some might have been sockpuppets who were removed). The great thing about a vote is it can be optional, so anyone who doesn't want to participate doesn't have to, so there's no inconvenience. We can however, restrict the voting to ORA stakeholders only, and that'll be important for the future.

I think you have a mistake here.

I read this post: https://bitcointalk.org/index.php?topic=620518.msg7936981#msg7936981

And:

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.

Yes, good catch! Thank you

Coin supply is 1 billion

[voanquan]

We have 888 free stake.

Remain: 2112 free stake. What will you do with 2112 free stake?

Nice coin!

[Kora]

I've been watching and still am amazed at free coins like this.

Devs like this one have helped individuals like me in ways they might never know.

Thank you!

Thanks for your support!!

I'm very good at giving away free tokens with no value  

Just kidding, ORA will have *some* value after the distribution, but not much. What about in 12 months time though?

A good analogy for ORA creation might be blowing up a balloon. What's inside the balloon is just air, but a blown up balloon has a form and a structure, and it becomes distinct from everything else, so it has an identity. Even if ORA has zero value for a while, we'll have some structure & form!

HODL can't do you any harm ... what's the ROI for a FREE stake?

[Kora]

We have 888 free stake.

Remain: 2112 free stake. What will you do with 2112 free stake?

Nice coin!

We'll use the NXT voting system to vote! Can I ask you what your opinion/vote would be?

I'll be voting to keep 50% for later distribution, and 50% for a top up for existing stakeholders.

[Kora]

This is my final version for the asset description. Basically the same as before but a few minor changes.

The asset description can't be changed, and it'll be the first impression many people get of ORA, so I've tried to mention the key elements but stay under 1000 characters.

ORA is a leaderless, decentralised 'starfish' community software development project announced on May 22 2014. [INSERT NUMBER] people initially registered between June 24 - July 8 2014 for a FREE stake of [insert number] assets each.The remaining ORA assets were held in trust for later distribution to community members & future developers. ORA asset tokens are issued as bearer assets. Whoever controls the private keys for an amount of ORA asset tokens will be eligible to redeem an equivalent amount of ORA 'coins' if/when the ORA software and P2P network is completed. The asset issuer is unable to guarantee either the completion of the ORA software, or the exchange of ORA asset tokens into ORA coins. Please research the ORA project before purchasing ORA assets. The terms & conditions & date of the redemption will be finalised after community consultation.

Total assets: 1,000,000,000
For more details: http://ora.to
Issuing account: [insert darkhorse NXT address]

975 characters

[ObscureBean]

We have 888 free stake.

Remain: 2112 free stake. What will you do with 2112 free stake?

Nice coin!

We'll use the NXT voting system to vote! Can I ask you what your opinion/vote would be?

I'll be voting to keep 50% for later distribution, and 50% for a top up for existing stakeholders.

Well, while I like the idea of a top up, I think I would rather have the 50% added to the donation pot to be used for future bounties, development, promotions and giveaways.
I understand that initially the coin might not be valuable enough to pay for hours of hard work but I think that in the long term it could very beneficial to our community.
Plus we can always vote at a later time to determine what we want to do with it.
So for me it'll be - 50% for later distribution and 50% to be added to the community donation pot  

[TOYJJWGS]

Why the number of cents less. No increase in the number of get currency

[CECVW]

sorry if this has been said before but I can not see in the front page..how many ora coins will be available in total? I know we are around 800 stakeholders, its to calculate how many coins are per stake

I second that question.

I particular:

-Any decision on the total (K) Ora supply. OP suggests 50 mil, is this still valid and is any decision been made?

-About NXT AE stakes – are they gonna be NEM, style i.e.  One stake representing a lot future coins and divisible in up to 10 parts, or it will reflect the actual # of future shares?

- Voting on things is great. Voting on one and the same thing over and over is not likely to produce hugely different results. So, I or you not liking the result of the vote will not change it! Please just say you have decided to give the remaining stakes - 50% to current stake holders and the other 50% are kept and at a later point in time decision will be made on the best way to distribute them.

Good questions!

- Coin supply is 10 billion 1 billion
- Each stakeholder will get ~166,666 ORA assets
More details in this post: https://bitcointalk.org/index.php?topic=620518.msg7936981#msg7936981

I agree with you that endless voting would be pointless, but I put up the original poll thread before I thought of using the NXT voting system. I think a forum poll, is just that, an 'opinion poll', whereas using the NXT voting system is a form of 'direct democracy', and I think the latter is far superior.

I promise I wont be advocating votes too often (maybe never once the distribution is over), but for the left over stakes issue it makes sense to get an EXACT answer, rather than use a simple survey, plus ORA is an 'experiment', and using the NXT voting system to help with decision making in a decentralised organisation is quite historic, and ORA will probably be the first!! That's too good an opportunity to resist

The poll only had ~150 people reply, and maybe not all were stakeholders (some might have been sockpuppets who were removed). The great thing about a vote is it can be optional, so anyone who doesn't want to participate doesn't have to, so there's no inconvenience. We can however, restrict the voting to ORA stakeholders only, and that'll be important for the future.

Thanks for the quick respond and the good answer. Just one more question I think I have seen it somewhere I am nor sure, so the distribution will be similar to NEM, I mean you will get an asset 1;1 and not the real coins and then you can sell your stake,and lets say 2 month later you will be able to exchange the stake you have for real coins, is that correct? an also when will it be the distribution of the asset and then when the distribution of the real coins? thanks

[fragORA]

^^ I believe ORA assets will in fact be equal to ORA coins, so 1 million ORA Assets will convert to 1 million ORA coins. You are correct that NEM assets = NEM stakes or a percentage of a stake (A stake was divisible by 10)

[wojtek]

To be honest I don't think Ora price will be low after AE launch. If people believe this coin has potential, then they won't sell it low. Personally I'm not selling my stake below 500$. First thing I will do is to vote to distribute remaining assets to current stakeholder. When there is no longer possibility for free shares, value will increase. Also this way each stakeholder has about 1/2000 of total coinage. This means for 500$ value of my share, we only need 1M market cap, which is not much for pure POS coin (for example current NEM market cap is above 4M USD).

[xucc2012]

what news of wallet design?
we should pay attention to the wallet not the price

[taytuyen]

How can it trade on poloniex, bter, cryptsy,...?

[xyzzyx]

Kora, possible for you to check max char for the asset description. I am away from my pc for the next 12 hrs at least.

Max characters for the asset description is 1000.

valarmg is testing the asset distribution script on the NXT testnet!
https://nxtforum.org/asset-exchange-general/dividend-payment-service/msg69984/#msg69984

Remember to count carriage return/line feed characters in that 1000 limit.  As it stands, with your text placeholders, the description is at 1016 characters.

[llocally]

How can it trade on poloniex, bter, cryptsy,...?

First ORA shall released on NXT asset exchange, but for now is no ETA!?!?

poloniex... will take along, if ORA need so long to be released as NXT asset 

[Sanglotslongs]

I There are two "0" with my name in the stakeholder's list. I have to do someting to have my stake at the launch ?

[LemonAndFries]

I've been watching and still am amazed at free coins like this.

Devs like this one have helped individuals like me in ways they might never know.

Thank you!

Thanks for your support!!

I'm very good at giving away free tokens with no value  

Just kidding, ORA will have *some* value after the distribution, but not much. What about in 12 months time though?

A good analogy for ORA creation might be blowing up a balloon. What's inside the balloon is just air, but a blown up balloon has a form and a structure, and it becomes distinct from everything else, so it has an identity. Even if ORA has zero value for a while, we'll have some structure & form!

HODL can't do you any harm ... what's the ROI for a FREE stake?

Very true,  no complains here 

[jshow5555]

Here is my Grand plan how to make ORA the best coin out there.

And do that fast, cheap and with all the promised features. Add to that the fairest distribution we already have and you have a true winner.

As a byproduct this also solves the question – ‘What to do with the remaining free stakes’

Use the code of Bitshares. Why?

a. Technically –it has extremely fast block times -10-15 seconds. It has implemented security features (TITAN) in it already. In a month or so it will have exchange build on it. INHO it is the state of the art at this moment. So why not use the best available?

b. It is free and available – saves both time and money in Ora development.

c. There is certain negative PR in being a clone of somebody. BUT their (Bitshares) condition to not be a clone but kind of part of them is ‘The coin to distribute at least 10%  to 2 categories they have determined as their core supporters. That is 20% total
Ora has about 35.2% of free stakes available for distribution. So 20% can be used for that and there will still be about 15% left!




IMHO it will be a great decision for Ora.  And with its fair distribution model the sky is the limit.