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Author Topic: Bitmark  (Read 602412 times)
Este Nuno
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October 25, 2014, 03:39:39 PM
 #1781

I'm just wondering if people realise how rare BTM is?  If the coin had stayed strictly to the 2 minute schedule since inception, there would be around 1.5 million coins in circulation, however in reality only a little over 900,000 have been minted.  Unless the hashrate explodes to LTC levels, it is highly unlikely that the blockchain will ever catch up to the planned release schedule.   

Yes. One bitcoin buys about 2 days worth of bitmark minting. 

In US dollar terms, the bitcoin blockchain is minting about 50,000 USD worth every 24 hours. The bitmark block chain is minting about 175 USD worth every 24 hours

One idea to meet the planned BTM coin release schedule and also incentivise more hash power to join the network would be that the block reward be variable. Examples: if an hour has gone by when the next block is found, that block could get 600 BTM instead of 20. If two real-time hours separate blocks, then that last block could be rewarded 1,200 BTM. If it takes 10 minutes to find the next block (instead of the target 2) then that block would be awarded 100 BTM, etc.

The idea is that the 20 BTM reward per block would accrue 'virtually' every 2 minutes, whether a block was found or not, and the sum of all the 'virtually accrued block rewards' would be 'physically' awarded on the next block actually found to the node who found it, whenever that is. 



Interesting idea wrt to variable block rewards. First thing I can think of is that a large miner might exploit it somehow by holding blocks. Of course someone else can solve them in the meantime and take the reward, so I don't know if that would be an issue or not. I know some mining algos such as KGW have been exploited so I'm cautious about any new ideas in the mining area. But it's a very interesting subject and maybe we can try out some of these ideas on a Pfennig clone at some point.
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dbkeys
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October 25, 2014, 05:22:07 PM
 #1782

Implementing the idea of a variable block reward would require more thought and attention to detail.  Timekeeping might have to be done more carefully than is done on the bitcoin network, perhaps by using or incorporating the long established NTP (Network Time Protocol)

It would also require a hard fork to implement on Bitmark, but since it's early days it should not prove too disruptive.
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October 25, 2014, 08:58:08 PM
 #1783

Deiu(https://my-profile.eu/people/deiu/card#me) in the slack group recommended a book that seems to be incredibly relevant to what we're trying to do here. It's called Who Owns the Future? by Jaron Lanier

http://www.amazon.com/Who-Owns-Future-Jaron-Lanier/dp/1451654960

You can check the preface for free at Amazon so I thought I'd just post part of it here to see if it sounds as interesting to other people as it did to me when I read it:

Quote from: Who Owns the Future? by Jaron Lanier
...

If you got it for free, there has been a no-way transaction, and any value traded will be off the books, recorded not in any ledger but rather in the informal value systems of reputation, karma, or other wispy forms of barter. That doesn’t mean nothing has happened. Maybe you’ll get some positive strokes over a social network because of what you say about the book. That sort of activity might benefit us both. But it’s a kind of benefit that is unreliable and perishable.

The clamor for online attention only turns into money for a token minority of ordinary people, but there is another new, tiny class of people who always benefit. Those who keep the new ledgers, the giant computing services that model you, spy on you, and predict your actions, turn your life activities into the greatest fortunes in history. Those are concrete fortunes made of money.

This book promotes a third alternative, which is that digital networking ought to promote a two-way transaction, in which you benefit, concretely, with real money, as I do. I want digital networking to cause more value from people to be on the books, rather than less. When we make our world more efficient through the use of digital networks, that should make our economy grow, not shrink.

Here’s a current example of the challenge we face. At the height of its power, the photography company Kodak employed more than 140,000 people and was worth $28 billion. They even invented the first digital camera. But today Kodak is bankrupt, and the new face of digital photography has become Instagram. When Instagram was sold to Facebook for a billion dollars in 2012, it employed only thirteen people.

Where did all those jobs disappear to? And what happened to the wealth that those middle-class jobs created? This book is built to answer questions like these, which will only become more common as digital networking hollows out every industry, from media to medicine to manufacturing.

Instagram isn’t worth a billion dollars just because those thirteen employees are extraordinary. Instead, its value comes from the millions of users who contribute to the network without being paid for it. Networks need a great number of people to participate in them to generate significant value. But when they have them, only a small number of people get paid. That has the net effect of centralizing wealth and limiting overall economic growth.

Instead of enlarging our overall economy by creating more value that is on the books, the rise of digital networking is enriching a relative few while moving the value created by the many off the books.

By “digital networking” I mean not only the Internet and the Web, but also other networks operated by outfits like financial institutions and intelligence agencies. In all these cases, we see the phenomenon of power and money becoming concentrated around the people who operate the most central computers in a network, undervaluing everyone else. That is the pattern we have come to expect, but it is not the only way things can go.

The alternative introduced in this book is not a utopian idea; it won’t be hard to foresee its annoyances and messiness. However, I will argue that monetizing more of what’s valuable from ordinary people, who turn out to be the uncompensated sources of the data that make networks valuable in the first place, will lead to a better future.

That will make power and clout more honestly distributed, and might even lead to a persistent middle class in an information economy, which would otherwise be an impossible goal.

mark Deiu, Jaron Lanier 100
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October 25, 2014, 10:32:04 PM
 #1784


"However, I will argue that monetizing more of what’s valuable from ordinary people,
who turn out to be the uncompensated sources of the data that make networks valuable in the first place, will lead to a better future."

You guys are definitely on to something...

But ordinary people are hardly "uncompensated"...
Email might have cost $100/year in the 90s and now it's free...
As is every social networking service from Facebook to Twitter to YouTube.

The middle class is sabotaging itself...
Because people spend MASSIVE amounts of their time sending stupid posts, messages and pics...
(I know girls with 500 pics of themselves on FB)...
And have cellphones glued to their head...
As opposed to doing something productive with their lives like their parents did.
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October 26, 2014, 12:46:04 PM
 #1785


CCPAYT.com – Instant Bitmark-to-Bitcoin Exchange!


It is really too good to not twitter and all a great product for Bitmarkers.


I propose to all people reading this thread to twitter to everybody about it and make sure as many local merchants etc. knows about the possibility of adding CCPAYT as an instant conversion of Bitmark to BTC!

Lets help eachother make this this news happen. promote CCPAYT, contact all BTC merchants and make them aware that it is possible to accept Bitmark now as payment, all they need to do is integrate CCPAYT to their payment platform - for this they would need to contact ronny@ccedk.com

Lets go - start the twitter storm now, make Bitmark noticed, CCPAYT is a good way to make people aware of Bitmark!

#CCPAYT: Instant #Bitmark-to-Bitcoin Exchange | 10 other Altcoins supported | #BTM | #altcoins
http://www.cryptoarticles.com/crypto-news/exchange-alternate-cryptocurrencies-to-bitcoin-instantly-with-ccpaytcom#
coinsolidation
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October 27, 2014, 12:21:10 PM
 #1786

Real World Usage: Events and Festivals.

We have a unique opportunity to prove all elements of Crypto Currency and Marking at a series of events and festivals.  Two small regular venues are available for us to test over the coming months, with the first large event in Summer 2015, 5-10k people per day expected to attend.  The systems will then be matured through a series of larger events, with a view to provide a cashless system for the European Capital of Culture 2018 in Leeuwarden.  This is an area with 750k and a further 2-3 million are expected to attend.

If anybody is interested in helping us plan for and test please speak up, some other projects such as ORA have already agreed to help.  To have real world end to end testing in semi controlled environments will surely do much to advance our combined goals.


Online Community Usage: Music and Marking

A large print & web magazine group are joining together with a handful of music distributors and PR companies to create a new online music community and associated print magazine.  Several web properties are to be folded in to one, relaunching a previously market leading music+culture brand.  The combination of 14 companies in total have significant resources for the project, and plan to use marking for all aspects of the community website.  Their team have started work today, and are aiming for a mid December launch.

This is an ambitious project with progressive thinking in an important industry.  Their goals are to create a space where people come first, in touch with artists and venues to create a living community, and where marking is used to provide equal opportunity.  The initial model is mark a track/venue/artists to give reputation, mark a higher amount to get the download of the track / tickets to the venue (payment).  They are also particularly interested in the aforementioned Events and Festivals usage and are excited at the prospect of having the same approaches used in the physical world.


Meanwhile work progresses on all fronts with several implementations of marking under development, and extensive outreach to numerous technical projects.

Bitmark (reputation+money) : Bitmark v0.9.4 (release)
pabloangello
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October 27, 2014, 01:48:50 PM
 #1787

This thread needs a bump and newcomers Smiley
dbkeys
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October 27, 2014, 02:07:58 PM
 #1788

Hypothetically speaking, let's say there was such demand that blocks were being found every 30 seconds (4x the target rate) so that 720 blocks were generated by the time 6 hours went by. Would the difficulty then re-adjust after those 6 hours and throttle the production down to a block every two minutes ?

Yeah, the algorithm works quite well on that end of the spectrum. We will never see an extended over production of BTM. It's when the profitability compared to other scrypt mining oportunities is seen as "less profitable" that it slows down. And I use the term "less profitable" very loosely, as BTM doesn't really conform to the standard profit calculations with the 720 block maturity.

I'm just wondering if people realise how rare BTM is?  If the coin had stayed strictly to the 2 minute schedule since inception, there would be around 1.5 million coins in circulation, however in reality only a little over 900,000 have been minted.  Unless the hashrate explodes to LTC levels, it is highly unlikely that the blockchain will ever catch up to the planned release schedule.  

Yeah, I don't think too many people have much of idea of what's going on in general. Part of that is my fault as I don't really go around talking too much about everything that goes on in slack(it's all public though, anyone is more than welcome to join and see what's going on for themselves). Basically there's a lot of development going now from four devs working hard on their individual marking projects and recently two major third party projects being explored right now that look very promising.
How does one join Bitmark on Slack ??
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October 27, 2014, 02:10:56 PM
 #1789

How does one join Bitmark on Slack ??

Send your email address to Este Nuno, medic, or myself for an invite.

Everybody is welcome, we have much work to do, especially on:

Real World Usage: Events and Festivals.

We have a unique opportunity to prove all elements of Crypto Currency and Marking at a series of events and festivals.  Two small regular venues are available for us to test over the coming months, with the first large event in Summer 2015, 5-10k people per day expected to attend.  The systems will then be matured through a series of larger events, with a view to provide a cashless system for the European Capital of Culture 2018 in Leeuwarden.  This is an area with 750k and a further 2-3 million are expected to attend.

If anybody is interested in helping us plan for and test please speak up, some other projects such as ORA have already agreed to help.  To have real world end to end testing in semi controlled environments will surely do much to advance our combined goals.


Online Community Usage: Music and Marking

A large print & web magazine group are joining together with a handful of music distributors and PR companies to create a new online music community and associated print magazine.  Several web properties are to be folded in to one, relaunching a previously market leading music+culture brand.  The combination of 14 companies in total have significant resources for the project, and plan to use marking for all aspects of the community website.  Their team have started work today, and are aiming for a mid December launch.

This is an ambitious project with progressive thinking in an important industry.  Their goals are to create a space where people come first, in touch with artists and venues to create a living community, and where marking is used to provide equal opportunity.  The initial model is mark a track/venue/artists to give reputation, mark a higher amount to get the download of the track / tickets to the venue (payment).  They are also particularly interested in the aforementioned Events and Festivals usage and are excited at the prospect of having the same approaches used in the physical world.


Meanwhile work progresses on all fronts with several implementations of marking under development, and extensive outreach to numerous technical projects.

Bitmark (reputation+money) : Bitmark v0.9.4 (release)
Este Nuno
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October 27, 2014, 05:14:58 PM
 #1790

Amazing news. All these major projects are very exciting. People using marks will be awesome to see. Smiley

I have a multipart series going on right now about all the development going on in Bitmark four devs. Part 1 & 2 are here:

http://bitmarknews.com/2014/10/24/current-bitmark-development-part-one/

http://bitmarknews.com/2014/10/27/current-bitmark-development-part-two/
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October 27, 2014, 05:16:38 PM
 #1791

Thanks for providing the update Mark. I had over looked it earlier.

That being said, yes we do have quite a bit of work to do.

To the Bitmark Community, Thank you for the support. We highly value your unwavering loyalty to the project!

IMHO - y'all are one of the best communities in this forum

CISSP | PMP | CEH

Bitmark: Project Manager & PR Coordinator


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BTM: bNidDXnRu5fuD8Th7cPFh7jnPdyAhMh7Nr
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October 27, 2014, 07:29:27 PM
 #1792

Real World Usage: Events and Festivals.

Online Community Usage: Music and Marking

A large print & web magazine group are joining together with a handful of music distributors and PR companies to create a new online music community and associated print magazine.  Several web properties are to be folded in to one, relaunching a previously market leading music+culture brand.  The combination of 14 companies in total have significant resources for the project, and plan to use marking for all aspects of the community website.  Their team have started work today, and are aiming for a mid December launch.

This is an ambitious project with progressive thinking in an important industry.  Their goals are to create a space where people come first, in touch with artists and venues to create a living community, and where marking is used to provide equal opportunity.  The initial model is mark a track/venue/artists to give reputation, mark a higher amount to get the download of the track / tickets to the venue (payment).  They are also particularly interested in the aforementioned Events and Festivals usage and are excited at the prospect of having the same approaches used in the physical world.

Now this is interesting.

YouTube (Google) pays out about $1 billion/year to media companies based on views, etc...
But this is likely mostly going to established entities with complex contractual agreements...
You wanna start poaching some of that is a more decentralized way (DISRUPTION)...
And also paying ordinary people for producing valuable, viral material.

IMO, As a 20 year pro trader...
I was not particularly impressed by the Polo Troll Box Marking Rankings...
No one ever posts valuable trading information on the web (you just trade and post wrong info)...
So the Polo thing is just Ranking based on usage and random/false information.

99.99% of financial predictions on the web are random... people are easily "fooled by randomness".

I realize BTM is scaling up with test projects...
But you cannot go BIG without being VERY DISRUPTIVE... and pissing off "important industries".


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October 27, 2014, 07:50:21 PM
 #1793

Real World Usage: Events and Festivals.

Online Community Usage: Music and Marking

A large print & web magazine group are joining together with a handful of music distributors and PR companies to create a new online music community and associated print magazine.  Several web properties are to be folded in to one, relaunching a previously market leading music+culture brand.  The combination of 14 companies in total have significant resources for the project, and plan to use marking for all aspects of the community website.  Their team have started work today, and are aiming for a mid December launch.

This is an ambitious project with progressive thinking in an important industry.  Their goals are to create a space where people come first, in touch with artists and venues to create a living community, and where marking is used to provide equal opportunity.  The initial model is mark a track/venue/artists to give reputation, mark a higher amount to get the download of the track / tickets to the venue (payment). They are also particularly interested in the aforementioned Events and Festivals usage and are excited at the prospect of having the same approaches used in the physical world.

Now this is interesting.

YouTube (Google) pays out about $1 billion/year to media companies based on views, etc...
But this is likely mostly going to established entities with complex contractual agreements...
You wanna start poaching some of that is a more decentralized way (DISRUPTION)...
And also paying ordinary people for producing valuable, viral material.

IMO, As a 20 year pro trader...
I was not particularly impressed by the Polo Troll Box Marking Rankings...
No one ever posts valuable trading information on the web (you just trade and post wrong info)...
So the Polo thing is just Ranking based on usage and random/false information.

99.99% of financial predictions on the web are random... people are easily "fooled by randomness".

I realize BTM is scaling up with test projects...
But you cannot go BIG without being VERY DISRUPTIVE... and pissing off "important industries".




Wrt to Poloniex while I found that people would mark higher amounts for what they considered good analysis or similar, markings in general are given out more for just general approval or good content. If there was a separate marking function to mark people exclusively on their trading advice then maybe that would mean that ranking could be a better representation of people posting valuable information. But for now it's more of a general ranking.
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October 27, 2014, 08:14:08 PM
 #1794

The "reputation" metric isn't so important, and it is not fixed.

On day one reputation may be all marks received.
day two it may be weighted by the reputation of the giver.
day three it may recognise that somebody is classed as a domain expert and weight marks they give in their subject domain more highly, if one physicist marks a paper from another for example.
day four, who knows.

The ability to give reputation and have it be usable/useful is the important part for now.  Exposing the marking ledger allows for more advanced reputation metrics to be generated over time.

To draw an image and share it with friends, gain reputation for it, give some to another artist who's work you appreciated and also buy some art supplies with it, that's the important enabling bit.

Quote
paying ordinary people for producing valuable, viral material.

This may be done, but the goal is to allow me to mark you for saying that, for reputable viral material to be naturally marked and crowd-rewarded, also including the curators, rewarding them for sharing something others appreciate.  For a listener to reward an artist, and an artist to thank the listener back with a store-able version of a song.  This is business, for bigger business, let us say the music artist was given some artwork for the cover by a designer, then they can choose to manually or automatically aportion a fair amount of reputation to that person.

Google et al, we do not preclude their business models, we just offers alternatives, they may use them too in replacement or to compliment their existing systems.

Complimenting is better than replacing.  From day one we have said "work with what exists".

Bitmark (reputation+money) : Bitmark v0.9.4 (release)
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October 28, 2014, 02:36:02 PM
 #1795

This is a coin I can support. Good work guys!

Fortune Favors the Brave
Borderless CorpEXPANSETokenlabEXREXP.LIFEFranko Is Freedom
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October 28, 2014, 04:25:16 PM
 #1796


Will Katz has been inspired to write a song all about Bitmark and Marking: http://youtu.be/wl4rnEguL2w  Grin

Bitmark (reputation+money) : Bitmark v0.9.4 (release)
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October 28, 2014, 05:22:27 PM
 #1797


Will Katz has been inspired to write a song all about Bitmark and Marking: http://youtu.be/wl4rnEguL2w  Grin
Damn nice  Cheesy




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   ● ▬▬ ● ▬▬▬▬ ● ▬▬▬▬ ●  MEDIUM | REDDIT | FACEBOOK | TELEGRAM | TWITTER | YOUTUBE | ANNOUNCEMENT   

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October 28, 2014, 09:04:08 PM
 #1798


Will Katz has been inspired to write a song all about Bitmark and Marking: http://youtu.be/wl4rnEguL2w  Grin

Very catchy. Smiley

Great job!
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October 29, 2014, 03:26:10 AM
 #1799

As I stated in Slack...Great song

As for the project - we continue moving forward. At the moment the finish line is but a distant mirage that fuels my excitement. I quite enjoy waking every morning, enthusiastic about the work that awaits me.

CISSP | PMP | CEH

Bitmark: Project Manager & PR Coordinator


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October 29, 2014, 02:41:08 PM
 #1800

For all Bitmark users!

Introduce you BitTeaser - banner/teaser network for all Bitmark businesses, projects and more!!!

www.BitTeaser.com - new, but fast growing banner-teaser network www.bitteaser.com  concentrated on cryptocurrency theme businesses, but not only, also online gambling, entertainment, IT etc. Check this out!

Now you can advertise all your projects through www.bitteaser.com with BTM, and we already have clients -advertisers.

Work with Bitmark (BTM), also with Bitcoins (BTC), Litecoin (LTC), Peercoin (PPC), Nextcoin (NXT), Blackcoin (BC), Nubits (NBT), Darkcoin (NRK), Dogecoin (DOGE), BitsharesX (BTSX), Reddcoin (RDD) and Fimkrypto (FIMK)).

For webmasters - we pay regularly, provide space - get bitcoins back! Just go to www.bitteaser.com and register, very easy way!


Best regards,
Admin
BitTeaser


Looks very interesting, thanks for sharing! 
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