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

[DarkhorseofNxt]

@Darkhorse & fragORA, can you guys arrange for an ORA faucet fund account? I'll start that off with the 'cleansed' 1.5M ORA from the mystery dumper.

You just want to have a new nxt account openend for faucet alone? Do you also want it to be funded from the bounty fund apart from the 1.5m ?

I'd say start a new account for the future ORA faucet, and later we can top it up from the bounty fund, but we can use this initial 1.5M ORA to start the ball rolling.

Can anyone help develop an ORA faucet? Maybe we could use a modified version of the distribution plugin valarmg made. Could we put a web front end on that? I'm not sure anyone has made a NXT asset faucet yet, but that's what we'll need. The other option would be a manual faucet, but that's  a lot of work.

I'll offer a 1 Million ORA bounty for an automated ORA asset dispensing faucet, preferably open source so other asset issuers could use it too. I don't think we'd be the only NXT asset who'll want faucet type capabilities. The faucet system would need to pevent 'abuse' somehow.

But this will cause a new headache when the coin wallet is released and you have to do a new faucet for the coin. Unless these guys can also do the real coin faucet when the time comes.

[Kora]

@Darkhorse & fragORA, can you guys arrange for an ORA faucet fund account? I'll start that off with the 'cleansed' 1.5M ORA from the mystery dumper.

You just want to have a new nxt account openend for faucet alone? Do you also want it to be funded from the bounty fund apart from the 1.5m ?

I'd say start a new account for the future ORA faucet, and later we can top it up from the bounty fund, but we can use this initial 1.5M ORA to start the ball rolling.

Can anyone help develop an ORA faucet? Maybe we could use a modified version of the distribution plugin valarmg made. Could we put a web front end on that? I'm not sure anyone has made a NXT asset faucet yet, but that's what we'll need. The other option would be a manual faucet, but that's  a lot of work.

I'll offer a 1 Million ORA bounty for an automated ORA asset dispensing faucet, preferably open source so other asset issuers could use it too. I don't think we'd be the only NXT asset who'll want faucet type capabilities. The faucet system would need to pevent 'abuse' somehow.

But this will cause a new headache when the coin wallet is released and you have to do a new faucet for the coin. Unless these guys can also do the real coin faucet when the time comes.

I was thinking the faucet will send people with a valid NXt account a small number of ORA assets, so only people with NXT accounts would use it. When the  ORA P2P network is launched the people who got ORA assets from the faucet would redeem for ORA coins same as everyone else.

I think we might 'live' on the NXT AE for a while, so having an asset faucet is a good goal.

[DarkhorseofNxt]

@Darkhorse & fragORA, can you guys arrange for an ORA faucet fund account? I'll start that off with the 'cleansed' 1.5M ORA from the mystery dumper.

You just want to have a new nxt account openend for faucet alone? Do you also want it to be funded from the bounty fund apart from the 1.5m ?

I'd say start a new account for the future ORA faucet, and later we can top it up from the bounty fund, but we can use this initial 1.5M ORA to start the ball rolling.

Can anyone help develop an ORA faucet? Maybe we could use a modified version of the distribution plugin valarmg made. Could we put a web front end on that? I'm not sure anyone has made a NXT asset faucet yet, but that's what we'll need. The other option would be a manual faucet, but that's  a lot of work.

I'll offer a 1 Million ORA bounty for an automated ORA asset dispensing faucet, preferably open source so other asset issuers could use it too. I don't think we'd be the only NXT asset who'll want faucet type capabilities. The faucet system would need to pevent 'abuse' somehow.

But this will cause a new headache when the coin wallet is released and you have to do a new faucet for the coin. Unless these guys can also do the real coin faucet when the time comes.

I was thinking the faucet will send people with a valid NXt account a small number of ORA assets, so only people with NXT accounts would use it. When the  ORA P2P network is launched the people who got ORA assets from the faucet would redeem for ORA coins same as everyone else.

I think we might 'live' on the NXT AE for a while, so having an asset faucet is a good goal.

Come to think about it. You are right. We are going to live in nxt ae for some time. Best guess, 6 months?

[DarkhorseofNxt]

I will furnish with the details of how many coins has been distributed from the 50% allocation. This gives me an idea from Kora's reply on charity. How about allocate 1% of the total balance alloacation to this purpose. Someone from the community will helping me on how to do this, properly. If this is okay, i will remove the charity from the power bounty allocation. This makes more sense. We can make a fund account and anyone who wishes to top up to that account can do so. Also helps with the distribution imo.

Balance stakes = (3000(allocated) - 889(first round reg) × 166,666) = 351,831,926. This is the number provided if all 889 receive their stakes.

And here is my suggestion for balance stake distribution.

1. 1st round stake register account gets additional = 158,304 each (40%)
2. 2nd round stake register account (300 new applicants) gets = 166,666 each (14.21%)
3. Current holders bonus (min. 166,666) gets = 50,000 each (16.89%) * assuming total of 1189 person holding every coin. Incase of lesser account, share per account increases.
4. Dev bounty = 101,649,356 (29%)

With this,
1st round register will receive a total of 374,970 coins
2nd round register will receive a total of 216,666 coins.

This will cover everyone's concern. Just my opinion. Feel free to comment.

Personally in regards to #1, I would rather see the additional stakes used to get more people involved.

I see no benefit to another round of distribution to the 1st round registrants.  If an option like that were to be chosen, I think it would be better to "top-off" existing stakeholders and not reward those who sold as soon as they could... we want people who believe in ora and will stick around.

Rest of it seems okay.

This is just one config of the distribution poll i am suggesting. It is meant for discussion only. Its not final.

[DarkhorseofNxt]

This is just one config of the distribution poll i am suggesting. It is meant for discussion only. Its not final.

Fair enough, is good to discuss and the reason for my post.

Also, in regards to #3, will be tough to enforce on a 'per-account' basis.  Larger holders can easily split.  Anything other than a 'per-ORA' bonus can be gamed.

You are right. It can be gamed. I just thought about it. Anything to do with balance, can be gamed.

[Kora]

This is just one config of the distribution poll i am suggesting. It is meant for discussion only. Its not final.

Fair enough, is good to discuss and the reason for my post.

Also, in regards to #3, will be tough to enforce on a 'per-account' basis.  Larger holders can easily split.  Anything other than a 'per-ORA' bonus can be gamed.

You are right. It can be gamed. I just thought about it. Anything to do with balance, can be gamed.

What about a compromise between your #1 and #3?

A top-off of all 1st round holders (verified by account ID on spreadsheet) with a minimum balance.

Some good discussion here guys! As for new registrations, we'll be giving away a known quantity of REAL value, so we can expect a little more from people. One idea I had was we could set aside a quantity of round 2 stakes for people who submit a short video of themselves speaking about something relevant to ORA. We could put the videos on youtube and they'd be great marketing, and the video would also be an anit sockpuppet measure. The topic could be very broad, and it wouldn't need to be too heavy, but It would be better to be related to ORA & crypto. They could be sincere and meaningful ("how can crypto make the world better?") or they could be more humorous & fun ("who would you prefer to have dinner with, Satoshi or BCNext, and why?"). People love these sort of videos, and they would be great for marketing.

Anyone who doubts this should check out this thread: https://bitcointalk.org/index.php?topic=723463.msg8173271#msg8173271

Well known forum 'identity', come-from-above, posts a forum topic of "i want to give 100 BTC to one user on bitcointalk. tell me why it is U." and gets 14 pages of 'discussion' in a couple of days! Those sort of 'stunts' can be marketing 'gold' if done well. If we're giving away something valuable for FREE, I'm confident we would get a good response. It's another option to throw in the mix

[raveldoni]

I will furnish with the details of how many coins has been distributed from the 50% allocation. This gives me an idea from Kora's reply on charity. How about allocate 1% of the total balance alloacation to this purpose. Someone from the community will helping me on how to do this, properly. If this is okay, i will remove the charity from the power bounty allocation. This makes more sense. We can make a fund account and anyone who wishes to top up to that account can do so. Also helps with the distribution imo.

Balance stakes = (3000(allocated) - 889(first round reg) × 166,666) = 351,831,926. This is the number provided if all 889 receive their stakes.

And here is my suggestion for balance stake distribution. Please treat this for discussion purposes only. Brainstorming time.

1. 1st round stake register account gets additional = 158,304 each (40%)
2. 2nd round stake register account (300 new applicants) gets = 166,666 each (14.21%)
3. Current holders bonus (min. 166,666) gets = 50,000 each (16.89%) * assuming total of 1189 person holding every coin. Incase of lesser account, share per account increases. Bad idea. Can be gamed by large account holder.
4. Dev bounty = 101,649,356 (29%)

With this,
1st round register will receive a total of 374,970 coins
2nd round register will receive a total of 216,666 coins.

This will cover everyone's concern. Just my opinion. Feel free to comment.

I agree totally with DarkhorseofNxt.

My suggestion for 3rd part - It can be used to start promotional contests on twitter or other places by which ORA can gain more popularity and also keep the contestants happy.

[DarkhorseofNxt]

An alternate proposal to DarkhorseofNxt.  (I dropped dev bounties because big piece already carved out for that).  So, this only concerns the ORA remaining from: 50% - distributed equally to ~3000 webapp registration applicants

500,000,000 - 889 * 166,666 == 351,831,926 ORA remaining.

1. First round stakeholder 25% "top-off" bonus (based on balance and verified account in spreadsheet) = 37,041,518 (10.5% of total remaining)
2. First round stakeholders with minimum 166,666 ORA (verified in spreadsheet) receive another 100,000 ORA each = Max 88,900,000 (25.2%)
3. Community charity fund of 5% = 17,591,596 (5%)
4. Second round distribution for all remaining = 208,298,811 (Min 59.2%).

So, as you can see, my preference is to reserve most for next round applicants.  And to give gifts to all current holders who are verified in first round of distribution based upon two factors: #1 total balance top off (10%), and #2 minimum balance top off (25%).  (and, no extras for first-rounders who have already sold).


edit: I totally neglected my favorite use for these funds: PoS block rewards to incentivize running a node... added bonus is that is is a 'slow drip' distribution, and constantly changes to reflect current holders that are participating in strengthening the network

Based from Jack's proposal :

1. 10.5% top off to all 1st round stake holders. Each gets appx. 41,666 oras
2. 59.2% allocated to 2nd round registration. Aprx : 208,285,684 oras
3. 5.0% allocated to charity. = 17,591,696 oras
4. 25.3% 1st round stake holders (only accounts verified from spreadsheet) with 166,666 oras gets additional  100,000 oras.

So in total, first round stake holders is allocated 308,332 oras each. (Liking the word oras already, sounds like gold).

Now we need to determine number of registers for 2nd round registration. Since it has a value, we are hoping more participants. And we need to get more promotion if this config is voted. Jack, pls confirm the above? I am liking this config personally already.

[curT]

1. 1st round stake register account gets additional = 50,000 - with a minimum balance of 100,000 ( reward those who hold ora )
2. 2nd round stake register account (300 new applicants) gets = 50,000
3. 1st round stake register account gets additional = 50, 000 - with a minimum balance of 250,000 ( reward those who buy ora )
4. keep the rest for later distribution. (3rd round, 4th round,.... )

[DarkhorseofNxt]

1. 1st round stake register account gets additional = 50,000 - with a minimum balance of 100,000 ( reward tose who hold ora )
2. 2nd round stake register account (300 new applicants) gets = 50,000
3. 1st round stake register account gets additional = 50, 000 - with a minimum balance of 250,000 ( reward those who buy ora )
4. keep the rest for later distribution.

New and old stake holder that bought oras could game by opening new accounts with balance. I would suggest, that even those have bought in but was not registered as 1st stake holders to register as 2nd round stake holders.

[Henrietta.UK]

1. 1st round stake register account gets additional = 50,000 - with a minimum balance of 100,000 ( reward tose who hold ora )
2. 2nd round stake register account (300 new applicants) gets = 50,000
3. 1st round stake register account gets additional = 50, 000 - with a minimum balance of 250,000 ( reward those who buy ora )
4. keep the rest for later distribution.

New and old stake holder that bought oras could game by opening new accounts with balance. I would suggest, that even those have bought in but was not registered as 1st stake holders to register as 2nd round stake holders.

How about this
1.kora said we should make video as a requirement for the second REG,i don't think this is a good idea,people who use cryptocurrence always want to be anonymous that's why DRK and CLOAK is hot.
2.You can never kill sockputtes and i think sockputtes plays an important role in the society,for example,sockputtes always dump coin with low price,whatever we did,sockputtes are always have ways to break the game rule.
3.my distribution plan is this
the second round have 800 accounts(the account level must be Member or above,maybe this is not a best way but i think it can kill most sockputtes)

[Kora]

1. 1st round stake register account gets additional = 50,000 - with a minimum balance of 100,000 ( reward tose who hold ora )
2. 2nd round stake register account (300 new applicants) gets = 50,000
3. 1st round stake register account gets additional = 50, 000 - with a minimum balance of 250,000 ( reward those who buy ora )
4. keep the rest for later distribution.

New and old stake holder that bought oras could game by opening new accounts with balance. I would suggest, that even those have bought in but was not registered as 1st stake holders to register as 2nd round stake holders.

How about this
1.kora said we should make video as a requirement for the second REG,i don't think this is a good idea,people who use cryptocurrence always want to be anonymous that's why DRK and CLOAK is hot.
2.You can never kill sockputtes and i think sockputtes plays an important role in the society,for example,sockputtes always dump coin with low price,whatever we did,sockputtes are always have ways to break the game rule.
3.my distribution plan is this
the second round have 800 accounts(the account level must be Member or above,maybe this is not a best way but i think it can kill most sockputtes)

That's a good point, crypto lovers love privacy, so any 'video' stakes would work better as a Logo style competition. I'm definitely not advocating every round 2 person needs to submit a video, I'll leave that for NSA's 'Prism coin' promo

Maybe just have a bounty from the marketing budget for a video competition, something like "why do you want to be an ORA Millionaire?"

Thanks for helping to clear that up

[lordoliver]

I don't think, a second round of registration makes sence at all.
There are limited users on bitcointalk and most of them sockpuppets. So if we have already nearly 1k that should be much already.
And its again a lot of work for you guys. You should spend that time on development.
Noone can say, ORAs distribution was not fair. The people had a lot of time to register.

Current stakeholders were interested in new things, because they were looking in the Announcements to see this coin.
IMHO the people who are not finding it for that long time, are not deserving anything now any more.
But if they want in, they can still for about 1k nxt per stake on AE, what is really not much...

And we have to look for a possibility to raise the price steady. More stakeholders means only more dumpers, what creates more pressure at the price.

My suggestion would be:
- top only current holding stakers as a reward for holding (because they probably are not dumping)
- on release maybe sell a few stakes (but then for a higher price as they are now)

[Limbos]

there are many coins have not been distributed. maybe we can set up a second distribution.

[DarkhorseofNxt]

there are many coins have not been distributed. maybe we can set up a second distribution.

That is what we are doing right now.

[testadimerlo]

I agree with who says to don't give other coins to the earlier dumpers. About the rest, video yes or video not, I ll do my part as community decides

[DarkhorseofNxt]

Comes Nxt poll, i am hoping all kind of options will be listed for the distribution. Right now we are only creating the best possible win-win options to everyone. The choosing will be yours as in " The tribe has spoken". Until then you can come up with your opinion and debate on the options given.

[curT]

If you distribute all ORA now, most of "ora members" will dump and leave, only few people will stay.
I think it 's better to  disrtibute to ora members for holding ora and buying ora and to those who missed the boat.
I think a 2nd, 3th, 4th round,... will keep members intrested in following ora.

[quanxinquanyi]

i want to get a stake 

[josegines]

If you distribute all ORA now, most of "ora members" will dump and leave, only few people will stay.
I think it 's better to  disrtibute to ora members for holding ora and buying ora and to those who missed the boat.
I think a 2nd, 3th, 4th round,... will keep members intrested in following ora.

I agree

although I have been surprised on having verified that the majority of the stakeholders support his 166666
There is 660 with a minimum of 166666

A big majority supports or has bought more

The most interested have not waited to a new share-out, they have already bought.