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

[Mac Red]

One noob question. If i understood correctly you mentioned that there will be 50,000,000 coins, from wich there will be 25,000,000 distribuited in equal
stakes. Am i right?
And what will happen with the rest of the coins?

I'll let Kora answer this one. I know he's working hard at the moment arranging the coin aspects (though he's more of an organizer, the spider in the web).

[baby222]

i think 3000 menbers will be a long time

Yeah, it's hard to say. But you're right, we won't get these many unique people overnight. 3000 is a lot.

any plan  if didn;t get 3000 people or when get 3000  how do the devteam next step?

 i think do not folk  qora completely  

 we should creat a coin base on qora  but do better than qora ,  add more new functions

  could be better.  

[Mac Red]

i think 3000 menbers will be a long time

Yeah, it's hard to say. But you're right, we won't get these many unique people overnight. 3000 is a lot.

any plan  if didn;t get 3000 people or when get 3000  how do the devteam next step?

 i think do not folk  qora completely  

 we should creat a coin base on qora  but do better than qora ,  add more new functions

  could be better.  

To be honest with you I haven't really disccussed with Kora what we'd do if the goal of 3000 non-sockpuppet applications wasn't reached, or would take ridiculous amounts of time.

But the plan has always been to reach a set amount of non-sockpuppets, then close the form. After this we'll manually validate any suspicious or weird entries (for example two entries which are almost identical but are hard for the system to catch). We'll also make sure all entries have been confirmed with an email address and got a valid BTT + NXT ID. This check will be done automatically through a special script. THEN if say 126 entries doesn't make it through all these steps, we'll open the reg form again with a new limit of 126. And we repeat the process with the remaining stakes.

So yeah, this may take some time. But I'm fully prepared to put the effort into this since I believe in Kora.

Some may argue "just allow the sockpuppets it'll go faster" but that's not what Kora is about.

[Burakius]

Any update about the number of registrations so far ?

>1300 in total so far. But a big chunk of them are sockpuppets. It's very extincting to see everything work so well, people applying without much trouble.

Noob question: What is a sockpuppet?

[Equate]

Any update about the number of registrations so far ?

>1300 in total so far. But a big chunk of them are sockpuppets. It's very extincting to see everything work so well, people applying without much trouble.

Nice number as for now and still many registrations are left , so I think distribution is gonna take a while.

[g3rszpi]

Just an opinion. why do we need to have 3k stakeholders? with 1k or 2k stakeholders kora could be much more rare and stable and after some time when it wins some reputation many other speculants and traders could use this coin.

[Pentamon]

i think 3000 menbers will be a long time

Yeah, it's hard to say. But you're right, we won't get these many unique people overnight. 3000 is a lot.

any plan  if didn;t get 3000 people or when get 3000  how do the devteam next step?

 i think do not folk  qora completely  

 we should creat a coin base on qora  but do better than qora ,  add more new functions

  could be better.  

To be honest with you I haven't really disccussed with Kora what we'd do if the goal of 3000 non-sockpuppet applications wasn't reached, or would take ridiculous amounts of time.

But the plan has always been to reach a set amount of non-sockpuppets, then close the form. After this we'll manually validate any suspicious or weird entries (for example two entries which are almost identical but are hard for the system to catch). We'll also make sure all entries have been confirmed with an email address and got a valid BTT + NXT ID. This check will be done automatically through a special script. THEN if say 126 entries doesn't make it through all these steps, we'll open the reg form again with a new limit of 126. And we repeat the process with the remaining stakes.

So yeah, this may take some time. But I'm fully prepared to put the effort into this since I believe in Kora.

Some may argue "just allow the sockpuppets it'll go faster" but that's not what Kora is about.

I think you are doing the right thing.
To really go somewhere with Kora, 3000 are not enough, I think.

Sorry to say, especially not the kind of moths like us, that are attracted by the big burning candle in the middle.

We should be canvassing outside of this forum, and get some 'real life' band members!

Just one opinion.
Pentamon

[Pentamon]

Just an opinion. why do we need to have 3k stakeholders? with 1k or 2k stakeholders kora could be much more rare and stable and after some time when it wins some reputation many other speculants and traders could use this coin.

Let's take your idea to the extreme:
Let's say we start only with 10 stakeholders. Then it could be super rare and super stable, and .... nobody except these 10 will care about it's reputation. Speculators and traders would use it nonetheless.
So is that what we want?

I say, we should try to see it being distributed much wider than the 3000.
Now, on the Bitcointalk forum, most people are so pre-occupied trying to find the next coin to jump and pump, that I think you should look elsewhere for stakeholders. Let's think outside of the box.

Pentamon

[tequillaquagga]

Any update about the number of registrations so far ?

>1300 in total so far. But a big chunk of them are sockpuppets. It's very extincting to see everything work so well, people applying without much trouble.

Noob question: What is a sockpuppet?

Just google it. http://en.wikipedia.org/wiki/Sockpuppet_(Internet)

[SpiryGolden]

You kinda require a lot of informations from users . I am till reading but it seems a weird process .

[qiwoman2]

I told 5 of my friends on skype and fb so far and teaching them all how to fund their numeric i.s on NXT wallet, me the expert lol hhahaa..Thank you also for pmng me that I am included in the distribution and I am also going to make a blog post to explain to peeps how to do their nxt wallets etc.. I pmed back my numeric nxt wallet addy so all is cool.. Great opportunity this.

[SpiryGolden]

Sumbited my info finally after some battle . Hope it's fair . Good luck !

[Burakius]

You kinda require a lot of informations from users . I am till reading but it seems a weird process .

Alot of information? I think it's not that much. It took me 5 minutes??  Which part are you refering to specifically?

[qiwoman2]

Sumbited my info finally after some battle . Hope it's fair . Good luck !

Great to see you my Friend managed it all good. I will tell more of my friends later today or tomorrow.

[lemfuture]

Sumbited my info finally after some battle . Hope it's fair . Good luck !

Great to see you my Friend managed it all good. I will tell more of my friends later today or tomorrow.

did u submit two stakes, qiwoman and qiwoman2?

[qiwoman2]

Sumbited my info finally after some battle . Hope it's fair . Good luck !

Great to see you my Friend managed it all good. I will tell more of my friends later today or tomorrow.

did u submit two stakes, qiwoman and qiwoman2?

NO only qiwoman2 my qiwoman account has been hacked so if anyone is using that it isn't me. Unfortunately I tried to get it back but have had no response from the Admins on this forum so have had to create qiwoman2   Whoever is using my old qiwoman account is the hackers associated with the honorcoin registrations where myself and many of my friends here got their accounts hacked, so it's the old honorcoin admins who stole all our bitcointalk accounts and I am surprised that our voices have fallen on deaf ears here and not been able to get our accounts back. Please disregard whoever is using my qiwoman account obviously they are the scammers probably using all the hacked accounts to get shares. MINE IS ONLY qiwoman2.

[Kora]

This must be the most motivating pep-talk that I have read here on Bitcointalk.
We are in a band. I love it.
Looking forward to making music.
Thank you Kora,

Pentamon

Thanks Pentamon!

I think there are many parallels between music projects, and software development, especially open-source community software projects. From my experience most people involved in serious amateur/semi-professional music do it for the satisfaction, and their primary goal is rarely to make lots of money. I think the motivation to get involved with open-source software communities is the same. Peer-recognition & a sense that you are making a valuable contribution to something that you personally regard as 'meaningful'  is very valuable.

Most musicians who earn enough to live on from music 'don't work', they just spend their time doing what they love doing. I think many hard-core software developers are probably the same. I think most musicians and software developers have to settle for a balance, sometimes the music/software might not be your top shelf choice, but it's better than waiting tables, so you put up with some less than perfect 'gigs' because it increases your chances of finding a really great project that actually pays enough to live on. In music people refer to a 60/40 band - 60% cover songs & 40% original songs. That's how the Rolling Stones & Beatles started, and most probably 90% of all successful bands.

[Kora]

so if i don't want to run nxt i can't get a stake? Is that correct?

Also i have to reveal my identity via ip since vpn could be rejected? Is that also correct?
Why don't you ask for my gov-id and home adress also?

On the other hand this whole process doesn't prevent people with vpn to sign up as many times as they have sockpuppets here. So this is all bogus in my opinion.

You don't have to run a NXT client to get a stake (use mynxt.info web wallet for example), but you need a valid NXT account number to be sent the Kora tokens. Unfortunately there isn't really a way around that. The interim situation while we wait for the Qora source to be released, and while we establish the community, and while we collectively decide how to proceed with 'cloning' Qora, (and possibly forking the code into something 'new'), is to distribute Kora tokens on the NXT AE. As long as you have a valid NXT account, and we can check that in a NXT blockexplorer (which menas you need a positive balance), then you're good to receive Kora tokens. If you want to trade your Kora tokens you can't use mynxt.info yet, as far as I know.

As for the VPN issues, Mac Red has designed the registration system very carefully, and he's implemented a number of sockpuppet counter-measures, not just one. A lot of valid registrations have already been accepted, and a lot of sockpuppets have been caught!! I think the registration system is working extremely well so far, but we definitely are NOT interested in checking your identity papers. IMO the registration system is about striking a reasonable balance - prevent sockpuppets abuse, but don't make it so onerous to register that we turn off legitimate people who value their privacy.

I know our system & rules could be tweaked & changed to better serve different priorities, but so far I think we have achieved a good balance, and we'll still spend time manually checking the registration entries looking for any 'anomalies'.

We can even start a debate over whether we release the provisional stakeholder list for public viewing. I have some concerns over revealing peoples email addresses, but lets have a discussion about that. The more transparent everything is, the better for Kora in the long run

At the end of the day we want the community to have maximum faith in the integrity of the Kora stakeholder list. That's our goal.

[Kora]

One noob question. If i understood correctly you mentioned that there will be 50,000,000 coins, from wich there will be 25,000,000 distribuited in equal
stakes. Am i right?
And what will happen with the rest of the coins?

I'll let Kora answer this one. I know he's working hard at the moment arranging the coin aspects (though he's more of an organizer, the spider in the web).

Here is coin distribution I settled on in the lead up to the registration launch:

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
2% - Kora founder
8% - goes to node bot bounties
4% - website & marketing
1% - Qora dev
25% - POWER BOUNTIES

The 25% for 'power bounties' will be community voted bounties to key contributors. I'm thinking they will probably be in the range of 0.5%-2% each. If Kora doesn't work then even a 50% stake is worthless, but if we're optimistic, and in 12 months Kora is doing well and has achieved a reasonable marketcap, then a bounty payment of 0.5%-2% *could* be a decent amount of money, even enough to work part-time on Kora, or even full-time.

Pull out a calculator and do some sums. A 0.5% stake in a coin with a 10 million USD marketcap would be 50,000 USD. That's enough compensation to keep many people working on Kora, and with 25% in the kitty, we could afford to pay 50 people a 0.5% power bounty, on top of the stake they get from the registration system we are running at the moment.

I know from observing NXT that key community members can spend many hours working on projects that benefit ALL NXT holders, but some of them don't have a large personal stake, and that can be big problem in the future for NXT.

What happens when a key person, who wants to spend hours working for NXT suddenly realises they can't afford to spend any more time on NXT because it's costing them finacially? Their only choice is to put out a 'begging bowl' and ask for donations, or worse - stop working on NXT.

That's not what I want for Kora. I want the community to have 25% in reserve to pay the big contributors so they can afford to support themselves while working on Kora related projects.

Who will these people be? We don't know yet, but when they start popping up doing 10-40 hours a week on Kora, we'll have enough in the community Kora kitty to compensate & motivate them. The decisions will be made collectively (could be through nominations & voting for example), and everything will be 100% transparent.

I'm not under any allusions here, distributing 25% to key people wont be easy, and I expect some heated debate on 'who deserves what'. We'll probably need to setup some committees like NXT did to make collective decisions. This is down the track, so lets not get bogged down now at the early stages, but I do want people to know what my road-map looks like.

[qiwoman2]

WOW some lovely developments going on. I am impressed with all the ideas and hope to see this project come to fruition for the future of us crypto enthusiasts.