[XCR] Crypti | Dapps | Sidechains | Dapp Store | OPEN SOURCE | 100% own code | DPoS

[PilotofBTC]

The fee should be to the merchant, not the sender.

Corrected in white-paper.

Thanks. And what about casual sends? Like to/from person or exchange?

[PilotofBTC]

NXT clone or written from scratch??

It's written in javascript. So, it might be a clone, but it's not a fork.

[crypti]

@cripty
I asked earlier:

About Proof-Of-Time.

Can you explain in details how nodes will validate a block from the forger?
How will they check the accuracy of the declared forger up-time?

I think there could be manipulation.

@cripty
I asked earlier:

About Proof-Of-Time.

Can you explain in details how nodes will validate a block from the forger?
How will they check the accuracy of the declared forger up-time?

Every node knows how long work another node. Because network know weight of each nodes and each node connected to account id. One node - one account id. Account connected to node must be with effective balance > 0. In addition the combination of PoS algorithms adds more security.

[crypti]

NXT clone or written from scratch??

Written from scratch in Node.js, but I watched and learned a lot from NXT.

[trisher]

NXT clone or written from scratch??

It's written in javascript. So, it might be a clone, but it's not a fork.

A NXT clone?

[crypti]

NXT clone or written from scratch??

It's written in javascript. So, it might be a clone, but it's not a fork.

A NXT clone?

No, it's not clone.

[trisher]

maximum and minimum investment set?

[steady712]

I disagree with the distribution. I think this would be best:

Coins:

90% (90,000,000) will go to those who invested in the Pre-Sale.

10% (10,000,000) will go to the team that created Crypti.


IPO (100-200 BTC):

10% (10-20 BTC) will go to the team that created Crypti.

90% (90-180 BTC) will go to the development fund.

Don´t be greedy.

[SyRenity]

maximum and minimum investment set?

Both are unlimited - buy as little or as lot as you want.

[prix]

Every node knows how long work another node. Because network know weight of each nodes and each node connected to account id. One node - one account id. Account connected to node must be with effective balance > 0. In addition the combination of PoS algorithms adds more security.

How some node knows the up-time of another node?
Is the node itself watching the up-time of others nodes?
How is it works?
As example. When new node is started it must broadcast a message.
Other nodes when they receive this message add this new node to the some list.
And every some interval (hour, day), a new node must confirm the presence in the network by sending a new message.

[crypti]

Every node knows how long work another node. Because network know weight of each nodes and each node connected to account id. One node - one account id. Account connected to node must be with effective balance > 0. In addition the combination of PoS algorithms adds more security.

How some node knows the up-time of another node?
Is the node itself watching the up-time of others nodes?
How is it works?
As example. When new node is started it must broadcast a message.
Other nodes when they receive this message add this new node to the some list.
And every some interval (hour, day), a new node must confirm the presence in the network by sending a new message.

More details will be in pre-release technical white-paper.

[Tobo]

Unfortunately Anon only willing to do future escrows on top of the NXT Assets Exchange which, in our opinion, complicates matters for the casual buyer.
We want to give a simple BTC sending experience to an Escrow address, and have a ledger showing the estimated amount of Crypti that one will receive.
However we are in talks with several other Escrow providers, and looking to have one available towards the pre-sale start.

Actually buyers still can send BTC to anon136 for this kind AE escrow. anon136 will issue the tokens to the buyers through AE (all buyers do need to get a Nxt account). In the end, after the launch, all buyers just need simply transfer the tokens back to anon's issuer account with a message (through Nxt messaging feature) including their crypti account # for either you or anon136 (you send all escrowed coins to anon) to distribute their coins to.

[robbo389]

Unfortunately Anon only willing to do future escrows on top of the NXT Assets Exchange which, in our opinion, complicates matters for the casual buyer.
We want to give a simple BTC sending experience to an Escrow address, and have a ledger showing the estimated amount of Crypti that one will receive.
However we are in talks with several other Escrow providers, and looking to have one available towards the pre-sale start.

Actually buyers still can send BTC to anon136 for this kind AE escrow. anon136 will issue the tokens to the buyers through AE (all buyers do need to get a Nxt account). In the end, after the launch, all buyers just need simply transfer the tokens back to anon's issuer account with a message (through Nxt messaging feature) including their crypti account # for either you or anon136 (you send all escrowed coins to anon) to distribute their coins to.

anon136 is a very well known and trusted escrow agent here. Allowing prospective IPO investors to buy using his service would give people a great deal ore confidence in Crypti. You could offer a choice of other escrow agents for investors who do not want to use the AE.

[SyRenity]

Thanks for the clarifications on the fee issue. One question I still have: if the fee is charged to merchants, what about transactions not involving merchants, e.g. transferring funds from an exchange to a personal wallet; is the 1% fee still charged? And how exactly is the "merchant" defined here. Does it refer specifically to commercial businesses, or does it include basically anyone who is receiving Crypti?

Currently it's 1% per every transaction, we are discussing this matter in the team.

Merchants will have special business addresses, validated via real-life identification.

[SyRenity]

Other potential sources of funding could include:

1. Taking a small percentage of the merchant fee. If transaction volumes are large enough then even a small fraction say 1% of the 1% merchant fee could add up. You won't see this in the short term but if the concept is successful it could provide much needed income in the longer term.

2. Look at charging a subscription fee on merchant and even consumer wallets in the future. Continuous improvement does come at a cost and someone needs to bear that cost and it should be its users if they expect the infrastructure to be maintained.

3. Charging for support and maintenance services to merchants. There are always end users after higher levels of support services and are willing to pay to get it.

Thanks for the suggestions, we will discuss them.

[SyRenity]

I disagree with the distribution. I think this would be best:

Coins:
90% (90,000,000) will go to those who invested in the Pre-Sale.
10% (10,000,000) will go to the team that created Crypti.


IPO (100-200 BTC):
10% (10-20 BTC) will go to the team that created Crypti.
90% (90-180 BTC) will go to the development fund.

Don´t be greedy.

There is no relation to greed, we are looking to raise enough funds to maintain the development progress for as long term as possible.
That said, we will discuss your suggestions as well.

[SyRenity]

Actually buyers still can send BTC to anon136 for this kind AE escrow. anon136 will issue the tokens to the buyers through AE (all buyers do need to get a Nxt account). In the end, after the launch, all buyers just need simply transfer the tokens back to anon's issuer account with a message (through Nxt messaging feature) including their crypti account # for either you or anon136 (you send all escrowed coins to anon) to distribute their coins to.

anon136 is a very well known and trusted escrow agent here. Allowing prospective IPO investors to buy using his service would give people a great deal ore confidence in Crypti. You could offer a choice of other escrow agents for investors who do not want to use the AE.

Please see the opening - maxmint, who is actually one of the oldest and respected escrow providers, has agreed to participate.

We are looking to simplify the buying process as much as possible, without the need to open additional accounts anywhere. Buyers will just need to specify their test-net Crypti address in public comment when sending the BTC to escrow, and after the main-net is launched, Crypti will be distributed to these addresses. As the wallet is deterministic, same passwords from test-net will allow access main-net Cryptis.

There will be also a public ledger, showing Crypti addresses and their Crypti estimated ownership.

[GreXX]

I disagree with the distribution. I think this would be best:

Coins:

90% (90,000,000) will go to those who invested in the Pre-Sale.

10% (10,000,000) will go to the team that created Crypti.


IPO (100-200 BTC):

10% (10-20 BTC) will go to the team that created Crypti.

90% (90-180 BTC) will go to the development fund.

Don´t be greedy.

We are open to all suggestions and have been following the recommendations such as this one. I assure you that all of the ideas being posted are being discussed in our Redbooth boards and many of them are great proposals. Please keep the ideas coming. We understand that some members feel like the ratios are too high and we are taking this matter under serious consideration.

[GreXX]

Another matter that appears to be getting a lot of interest is the 1% fee. We are discussing if there is a way we can use an algorithm based on network volume and activity to determine a fee rate on the fly and we are open to any and all ideas.

The goal was to ensure that the block rewards for Crypti weren't 1 or 2 Crypti. We wanted the block rewards to be weighty and mean something. It's called a reward so we wanted it to be something that was worthwhile, encourage users to build out the Crypti network, and also to buy from validated merchants.

Keep in mind that these are the fees you all will be earning as forgers. So even if you believe the amount might seem a little high, it will be offset by you earning those amounts in the blocks you forge. Those fees will be going back into the hands of Crypti supporters which keeps us all active, excited, and pushing Crypti forward.

All of that being said, I would love to hear any ideas on a good percentage or rate to use, or if anyone has any ideas on a really strong way to calculate this out that they think would really work, please let us know!

We will test all of this during beta and make sure that it all looks fair and equitable.

[maxmint]

We are happy to announce, that a respected community member maxmint has agreed to provide Escrow for this pre-sale!
It's our true belief that a presence of such member will assure the community in our intentions and result in a very successful pre-sale.

Maxmint will confirm this by posting here and in separate thread with the Escrow terms.

I confirm that I agreed to provide escrow services for the pre-sale of the Crypti project. I'll post detailed escrow terms before the start of the pre-sale.