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

[Djinou94]

where the wallet? how get kora?

You cannot it's not a real coin

[BigWait]

when will this coin launch?

I'm confident people will be trading Kora tokens on the NXT AE within 6 weeks.

Between now and then there's a lot of things we can do. I've been thinking of other successful coin communities I am aware of, and I'm trying to distil what makes those coins & their communities successful.

What made Tenebrix & Fairbrix fail, and Litecoin succeed?  Remember, Litecoin came AFTER Tenebrix & Fairbrix, so sometimes the first mover isn't the one to survive and thrive, and it's not just about the tech either (Litecoin & Tenebrix/Fairbrix were all scrypt based)!

What gave Litecoin the X-factor?

Obviously a major part of the answer comes from understanding the 'community' - the people involved with the coin - what they were doing, and how they were motivated. I want to learn the lessons from all previous coins so we can make Kora successful, like Litecoin.

Some argue that people will not value something that they receive for free, and that's why recent 100% POS coins that have been given away free (Coffeecoin, ShareCoin, EnergyCoin, CommunityCoin, InformationCoin etc etc) will all struggle to survive as the stakeholders (and the dev) don't care enough to do what is necessary to survive in a competitive market.

I want to explore these issues. Will a Qora stakeholder who paid for their stake be more active than a Kora stakeholder who got theirs free? Will Kora find 'leaders' to guide Kora in the future if everyone has an equal stake?

One idea I'm toying with is holding an amount of Kora in trust (maybe 25%) for bounty rewards that the community votes on periodically. I've observed a few communites, and I see that most of the time the majority of tasks are performed by a small number of people. If we have a bounty fund, the community could vote to reward these big contributors. It's just an idea!

Please feel free to make comments and suggestions, and help shape Kora

This is a very good idea
A reward and can get them more power

[xtsjyfx]

This is not the registration thread for Kora. does it mean your registration is over?

[quasimodo]

This is not the registration thread for Kora. does it mean your registration is over?

No, this mean this is the thread for the brainstorming. If you have any idea or contribute for koracoin, post it here. Registration will follow later.

[Kora]

when will this coin launch?

I'm confident people will be trading Kora tokens on the NXT AE within 6 weeks.

Between now and then there's a lot of things we can do. I've been thinking of other successful coin communities I am aware of, and I'm trying to distil what makes those coins & their communities successful.

What made Tenebrix & Fairbrix fail, and Litecoin succeed?  Remember, Litecoin came AFTER Tenebrix & Fairbrix, so sometimes the first mover isn't the one to survive and thrive, and it's not just about the tech either (Litecoin & Tenebrix/Fairbrix were all scrypt based)!

What gave Litecoin the X-factor?

Obviously a major part of the answer comes from understanding the 'community' - the people involved with the coin - what they were doing, and how they were motivated. I want to learn the lessons from all previous coins so we can make Kora successful, like Litecoin.

Some argue that people will not value something that they receive for free, and that's why recent 100% POS coins that have been given away free (Coffeecoin, ShareCoin, EnergyCoin, CommunityCoin, InformationCoin etc etc) will all struggle to survive as the stakeholders (and the dev) don't care enough to do what is necessary to survive in a competitive market.

I want to explore these issues. Will a Qora stakeholder who paid for their stake be more active than a Kora stakeholder who got theirs free? Will Kora find 'leaders' to guide Kora in the future if everyone has an equal stake?

One idea I'm toying with is holding an amount of Kora in trust (maybe 25%) for bounty rewards that the community votes on periodically. I've observed a few communites, and I see that most of the time the majority of tasks are performed by a small number of people. If we have a bounty fund, the community could vote to reward these big contributors. It's just an idea!

Please feel free to make comments and suggestions, and help shape Kora

I wanna say my opinion about the distribution's issue that you are mentioning. Yeh, free distribution includes the risk that many people go to dump very quickly, but let's see also the rest.
Most cryptos are are linguistically doomed from the outset. They don't have a chance in hell of ever being anything other than a shit coin: smurfscoin, for example. What should you do with a coin with this name??? Do you wanna hold it?
Energy coin: ok, let's save energy but what does it mean? You give a name to the coin and after, what? Why this coin is so named? Most cryptos are doomed just because dev give name without reason. Is so difficult to understand that the name of the coin is his unique and important project? Name is the destiny but no one understand this simple concept
Coffee coin: good name, dev is still active and they are trying to make project. But imao you cannot go in the exchanges with an OP which language is half english, half chinese and half I don't know what. Because people don't believe in you and that's it.
Community coin: ah, when I think about that I m still sad. Good name but very confused distribution and, as before, also here no one project followed the name. Ok, this is the coin of the community... but what does it mean???
Information coin has been just a " revenge" of those that didn't get the community coin stake. Information coin: what does it mean?  Again, people give name and don't want spend neither two minutes tninking in something useful. Just make quickly money - but they do? Bah
Sharecoin was surely the best. Fair distribution and the coin rised till 600 sat. Sharecoin didn't died for being free but only because the dev is interested only in the exchange Sharexcoin and not in the coin itself, that was just an instrument ( but he never asked to someone to invest, the coins were free and so I cannot say a bad word about them)
Now I will hold krypt coin. Till now dev has been fantastic, fair and did a hard job. The name of the coin seems to be related to the enkrypted message, so it seems that there is a project behind. We ll see. Surely a lot of people will dump, but if there is a project, in my view the coin can succeed also if there is a free distribution - look at next
So, don't make confusion between the free distribution and the total incompetence and no professional devs that are around here
My two pence

Thanks for your post

I agree the name of a coin is very important, and I definitely don't want Kora to end up being  'linguistically doomed" with a bad name

Kora is a 'working title' and if the community consensus found a better name I'm supportive of any change as long as it happens soon. I chose Kora for the obvious reason, but I also knew it has a very good 'meaning' too.

Kora (Tibetan: སྐོར་ར, THL: kor ra, Wylie: skor ra) is a transliteration of a Tibetan word that means "circumambulation" or "revolution". Kora is both a type of pilgrimage and a type of meditative practice in the Tibetan Buddhist or Bon (Tibetan: བོན, THL: Bön, Wylie: Bon) traditions. A Kora is performed by the practitioner making a circumambulation around a sacred site or object, typically as a constituent part of a pilgrimage, ceremony, celebration or ritual. However, in broader terms, it is a term that is often used to refer to the entire pilgrimage experience in the Tibetan Buddhist region.

So a 'Kora' is a meditative pilgrimage!

[MadCow]

Those points are valid & relevant to Litecoin (fairness, wide distribution etc), but the most striking thing to me about the Litecoin announcement post when I first read it was litecoin wasn't the first scrypt based coin. Litecoin is the recognised 'silver' to bitcoin, and has a market cap over 300 million USD as of today (over x6 the cap of the third placed coin), BUT LITECOIN WASN'T THE FIRST SCRYPT COIN.

Litecoin achieved massive success based on execution, not based on being first. In the Litecoin announcement post Charlie Lee pays tribute to the developer of scrypt

We really liked Tenebrix's Scrypt proof of work.  Using Scrypt allows one to mine Litecoin while also mining Bitcoin.  We humbly offer a big thanks to ArtForz for the implementation.

So what you said is true - Litecoin didn't have a pre-mine, and the dev was concerned with issues like fairness, and other issues too, and all of those factors , (and some others that I'd like to discover & discuss in this thread) combined to give Litcoin the 'x-factor' that made it hugely successful, EVEN THOUGH IT WASN'T THE FIRST

Execution of the idea is so important.

Kora wont be the first coin based on the Qora dev's code, but if we establish a great community, and we 'execute' the necessary steps well, Kora can definitely be very successful, and even more successful that Qora.

I honesty hope Qora is successful too, and the presence of Kora will keep them on their toes. By all means if you can afford to buy a little Qora it is worth considering, but remember, just because Kora will follow Qora doesn't mean Qora will necessarily be the 'big boy'.

Kora will have a very fair & wide distribution, and if we create a great active community, and we 'execute' all the steps required to bootstrap a coin with excellence, then I'm very confident Kora can be very rewarding for all involved.

That's really interesting information! I didn't know Litecoin copied scrypt from another coin, and I agree that is very thought provoking. Coblee is a smart guy, and he setup Litecoin very well, and if Tenebrix had big pre-mine that would have killed it. What happened to Fairbrix? If it didn't have a pre-mine, then why didn't it outlast Litecoin? Very interesting stuff!

[aaaa1234]

I concern how to apply?

[quasimodo]

I concern how to apply?

You can't apply now. Why you don't read the OP?

[twospirit]

omg

[donglaidongwang1]

I will follow this thread.
Waite the lauch  day.

[Kora]

where the wallet? how get kora?

You cannot it's not a real coin

At this time Kora is similar to NEM in many way. We're attempting to build a community around a common set of ideas and goals, and we'll open registrations in about 4 weeks time, and we'll distribute interim Kora tokens on the NXT AE very soon after that.

That means Kora wont actually have a need for a wallet until after the Qora source code is released, whenever that is. By that time, if all goes well, I would be very surprised if Kora didn't follow a similar path to NEM. By that I mean NEM started off as a straight vanilla clone of NXT, but quickly morphed into something different on the strength of the people UtopianFuture was able to attract and motivate to help him.

I'm very hopeful Kora will attract a lot of positive attention from many capable developers after the registration is over, and after Kora tokens are being traded on the NXT AE, and I'll be doing everything I can to arrange for a capable developer to join the Kora team.

That's the plan I have, and if you want to contribute feel free! This is a brainstorming thread, and if you've ever had a thought like "why didn't the developer of coin XYZ do ....." then here is your chance to influence a new coin BEFORE it's released.

[mShz]

Very good idea. I will follow this project and I'll try to contributing

[sorryenglish]

I think you should be a list, and now you have nothing,

[Breasal]

Qora is available here: https://www.poloniex.com/exchange/btc_qora

here: https://sharexcoin.com/market/QORA_BTC

and here: https://bitcointalk.org/index.php?topic=613750.0

Why wait months for Kora when you could buy the real Qora while it's still low?!

[Kora]

I'd like peoples opinions on bounties. I think most observers of crypto can see that for most coins 5% of people do 90% of the work. Sure, lots of people post supporting messages in the threads, but when it comes to 'doing things', like setting up websites, running give-aways, setting up nodes, contacting exchanges etc it's a matter of rounding up the 5-6 usual suspects and hoping they don't get burnt out and disillusioned before the coin is airborne.

I have followed NXT and Qora closely, as well as many other coins, and it's always the same pattern - a few key people do most of the work, while the majority of stakeholders either do nothing, or offer 'posting support' without actually doing anything.

I'd like to suggest a bounty regime that recognises this pattern in crypto, (and life generally) - in group activities a few key people will do most of the work, and most of the time they don't get rewarded enough, and sometimes they get disillusioned and quit.

I'm proposing we consider distributing Kora in the following way:

50% - distributed equally to ~3000 webapp registration applicants
5% - goes to the registration webapp dev
5% -goes to the dev who clones Qora, and creates the Kora wallet applications
10% - goes to node bot bounties
5% - website & marketing

That's 75% for the 'core' functions, and to establish a community of ~3,000 users.

What I'm proposing is we keep the remaining 25% in trust to be distributed to the '5% of kora stakeholders who'll end up doing 90% of the work'.

We wont know before hand who those people are, but I'd like to think the Kora community as a whole could nominate, and then vote to award 1-2% 'power bounties' to community members who contribute day-in-day-out.

In the NXT community there are about 12 people who do MASSIVE amounts of work for the community, but there aren't any community bounties as such. They have the unclaimed monies & a community fund, but nothing like 25% of all NXT. That would be the equivalent of 250 Million NXT to distribute to guys like damelon, wesley, jl777, CfB, CIYAM etc etc!!

The same pattern is obviously at work in the Qora community now - 3-6 people are doing everything, and all Qora stakeholders can do is hope and pray they have big enough personal stakes to stay motivated long term. In the NXT community some of the biggest contributors have small stakes (hard to believe but true), and that's a long term problem for NXT.

I know it hasn't been done before, but I think it could overcome one of the biggest failure points for many coins - the people who do the most don't get rewarded, so they lose motivation, so momentum is lost, and the coin dies. Maybe that's what happened to Fairbrix (the scrypt coin BEFORE Litecoin that mysteriously died).

I think if Jean-Luc didn't have 50 million NXT from being an original stakeholder, NXT would probably not be doing so well. How lucky for NXT that one of the 8 guys to send a full bitcoin was a super talented Java dev with the ability to drop everything else and work on NXT full time. (if you're looking for a BCNext conspiracy theory, why choose the Qora dev when we've got Jean-Luc - a much better conspiracy theory).

I think having a war chest of 25% of all Kora coins for community voted 'power bounties' would ensure enough committed people  have enough motivation to keep pushing Kora forward. We could keep the 25% in an escrow fund with a trusted third party.

What do people think?

[Kora]

Qora is available here: https://www.poloniex.com/exchange/btc_qora

here: https://sharexcoin.com/market/QORA_BTC

and here: https://bitcointalk.org/index.php?topic=613750.0

Why wait months for Kora when you could buy the real Qora while it's still low?!

People can have free Kora tokens to trade on the NXT AE within 4-5 weeks once we conclude the fair and equitable registration process. Some people can afford to buy Qora, but it is much more expensive than Kora, and it's very risky at the moment IMO.

Disclosure - I have over 50 million Qora, but I'm a rich guy from a western country. If a student from China or India or Africa wanted to buy a 50 million stake today it would cost more than a YEARS income.

Qora is for rich people in western countries who can afford to speculate.

A Kora stake will cost nothing, and we will have a very fair & wide distribution, so the Kora community will be x10 larger than Qora on the day it launches. That's worth waiting a month!!

[testadimerlo]

I'd like peoples opinions on bounties. I think most observers of crypto can see that for most coins 5% of people do 90% of the work. Sure, lots of people post supporting messages in the threads, but when it comes to 'doing things', like setting up websites, running give-aways, setting up nodes, contacting exchanges etc it's a matter of rounding up the 5-6 usual suspects and hoping they don't get burnt out and disillusioned before the coin is airborne.

I have followed NXT and Qora closely, as well as many other coins, and it's always the same pattern - a few key people do most of the work, while the majority of stakeholders either do nothing, or offer 'posting support' without actually doing anything.

I'd like to suggest a bounty regime that recognises this pattern in crypto, (and life generally) - in group activities a few key people will do most of the work, and most of the time they don't get rewarded enough, and sometimes they get disillusioned and quit.

I'm proposing we consider distributing Kora in the following way:

50% - distributed equally to ~3000 webapp registration applicants
5% - goes to the registration webapp dev
5% -goes to the dev who clones Qora, and creates the Kora wallet applications
10% - goes to node bot bounties
5% - website & marketing

That's 75% for the 'core' functions, and to establish a community of ~3,000 users.

What I'm proposing is we keep the remaining 25% in trust to be distributed to the '5% of kora stakeholders who'll end up doing 90% of the work'.

We wont know before hand who those people are, but I'd like to think the Kora community as a whole could nominate, and then vote to award 1-2% 'power bounties' to community members who contribute day-in-day-out.

In the NXT community there are about 12 people who do MASSIVE amounts of work for the community, but there aren't any community bounties as such. They have the unclaimed monies & a community fund, but nothing like 25% of all NXT. That would be the equivalent of 250 Million NXT to distribute to guys like damelon, wesley, jl777, CfB, CIYAM etc etc!!

The same pattern is obviously at work in the Qora community now - 3-6 people are doing everything, and all Qora stakeholders can do is hope and pray they have big enough personal stakes to stay motivated long term. In the NXT community some of the biggest contributors have small stakes (hard to believe but true), and that's a long term problem for NXT.

I know it hasn't been done before, but I think it could overcome one of the biggest failure points for many coins - the people who do the most don't get rewarded, so they lose motivation, so momentum is lost, and the coin dies. Maybe that's what happened to Fairbrix (the scrypt coin BEFORE Litecoin that mysteriously died).

I think if Jean-Luc didn't have 50 million NXT from being an original stakeholder, NXT would probably not be doing so well. How lucky for NXT that one of the 8 guys to send a full bitcoin was a super talented Java dev with the ability to drop everything else and work on NXT full time. (if you're looking for a BCNext conspiracy theory, why choose the Qora dev when we've got Jean-Luc - a much better conspiracy theory).

I think having a war chest of 25% of all Kora coins for community voted 'power bounties' would ensure enough committed people  have enough motivation to keep pushing Kora forward. We could keep the 25% in an escrow fund with a trusted third party.

What do people think?

I totally agree with you. I think that everyone can do something, the important is to know it BEFORE. I'm not a dev but count me in also for the dirty work

[Trouble821]

Update 2
I'm proposing the following distribution schedule for maximum effectiveness:
50% - distributed equally to ~3000 webapp registration applicants
5% - goes to the registration webapp dev
5% -goes to the dev who clones Qora, and creates the Kora wallet applications
10% - goes to node bot bounties
5% - website & marketing
25% - POWER BOUNTIES - more details- https://bitcointalk.org/index.php?topic=620518.msg7013753#msg7013753
As always, this is the brainstorming thread, so have your say NOW!


Kora will have 10,000,000,000 coins, equally shared to all stakeholders.
I'm taking advice on the best coin supply total, so let me know your opinions. I've allowed myself to be convinced by some well thought out reasoning that 50 Million Kora is *probably* better than 10 billion.

Why not give some to the dev who developed qora as a token gesture of appreciation for his work?

[Kora]

Update 2
I'm proposing the following distribution schedule for maximum effectiveness:
50% - distributed equally to ~3000 webapp registration applicants
5% - goes to the registration webapp dev
5% -goes to the dev who clones Qora, and creates the Kora wallet applications
10% - goes to node bot bounties
5% - website & marketing
25% - POWER BOUNTIES - more details- https://bitcointalk.org/index.php?topic=620518.msg7013753#msg7013753
As always, this is the brainstorming thread, so have your say NOW!


Kora will have 10,000,000,000 coins, equally shared to all stakeholders.
I'm taking advice on the best coin supply total, so let me know your opinions. I've allowed myself to be convinced by some well thought out reasoning that 50 Million Kora is *probably* better than 10 billion.

Why not give some to the dev who developed qora as a token gesture of appreciation for his work?

That's a very good idea!! Thank you

[flis1986]

thanks. sound great!