Bitmark

[macbackfat]

The problem I see here, is there are no incentives for larger hashrates to join the network, which potentially hurts security.

Can't we mitigate this with merged mining?

[1713957957]

1713957957

[coinsolidation]

The problem I see here, is there are no incentives for larger hashrates to join the network, which potentially hurts security.

Can't we mitigate this with merged mining?

Yes, new alt coins can merge mine bitmark to strengthen the network further

I hope the network will earn it's hash power, as with every other element of the project.

Request
If anybody plans to have a bitmark node running on a server, and knows the fixed ip in advance, can you let me know so I can add it to the seed list before release.

Thank you.

[Este Nuno]

A new coin minus greed = satoshis original plan. Good work and the best of luck

Thank you.

What stops major hash power from mining at low difficulty, then jumping off when it goes up? Nothing except that they have to wait 720 confirms to get their coins. But when they do that the difficulty goes back down in a day. They mine another coin for that time and when bitmark difficulty drops they hit it again. Accumulating low difficulty coins would be fairly simple, just tedious because they need to switch the miners every difficulty spike.

It might just be unavoidable no matter what it is done. But I'd hope that any of that happening has little to no effect on the long term health of Bitmark.

That is my thinking also, we can try to limit the risks of particular actions, but we cannot stop or prevent them. Somebody may add and remove 1GH, dump 10k bitmarks, permanently add 1GH, buy 10k bitmarks..

The more we focus on natural growth in every aspect the project, the harder each of these actions will be.

If there are any additional steps we can take, let us discuss them as a community and see if they work.

I feel most solutions are to these potential problems are social.

For now, nobody can mine or dump. Soon people can mine but have no where to dump, later there may be some value, and some dumping may happen. We can frame any future dumping as distribution, and early adopters taking some reward. Only if we are successful in earning value.

I hope those that add a small amount to the project over a long period of time will be rewarded most. Miners included.

I think shortly after launch an exchange will add the coin. Smaller exchanges stand to gain a lot by adding new coins because it creates an influx of new users, who may stick around to trade other coins.

Has anybody considered a time based rewards system, where your reward is based on the amount of time you spend mining? Rewards are capped at 24 hours/7 days. So all miners who mine 24/7 receive the same reward regardless of hash rate.

The problem I see here, is there are no incentives for larger hashrates to join the network, which potentially hurts security.

The problem you mentioned is one, and another one is that people can just run hundreds of workers since the power output would be minimal. Even if they had to rent hundreds of IPs.

As to the issue with exchanges. Perhaps we can make a polite request that Bitmark is not added to any exchange before the community decides it's time. That's certainly no guarantee but something in writing like that just might dissuade an exchange from ninja listing Bitmark for fear of bad publicity.

I feel the 'earned value' part of Bitmark is important and one of if not the core value of the currency. And while coinsolidation has certainly done more than enough work to warrant some value on mined Bitmarks, I still really like the idea of us going in to the project with a zero value currency that will earn its value over time. Impossible as it might be to stop the market from valuing something, the intention should be there.

[coinsolidation]

Perhaps we can make a polite request that Bitmark is not added to any exchange before the community decides it's time.

Tolerance, people will do what they like, including trade via spread sheet in a forum, and add it to exchanges. We are not actively seeking any of these things, yet they will come.

If we can keep focussed on our plans, instead of worrying about hash rates and prices, we stand a chance of doing what we plan to do.

[vlight]

IPO.
There is no IPO, there will be no IPO. Bitmarks have zero value, any value they achieve will be earned, any IPO would mean giving a supposed value to each btm before it is even launched, we can not do that.

What do you mean? Mining?

Burning electricity does not give value, you just waste resources and the money spent on mining could be used in a productive way. Value is not  "supposed", it is a value given my the market. You will not find a better measure than the market price.

[Este Nuno]

IPO.
There is no IPO, there will be no IPO. Bitmarks have zero value, any value they achieve will be earned, any IPO would mean giving a supposed value to each btm before it is even launched, we can not do that.

What do you mean? Mining?

Burning electricity does not give value, you just waste resources and the money spent on mining could be used in a productive way. Value is not  "supposed", it is a value given my the market. You will not find a better measure than the market price.

Value will be earned by having a stable(technically, not necessarily monetarily) currency built on solid technology over time. Or as coinsolidation has already put it:

Technically: Light and stable with a modern codebase, maturing features from the alternative currency sector which benefit users added on a faster timeline than bitcoin. Think of it more as standardization rather than innovation.

User focussed: Most development effort and innovation goes in to making bitmark as user friendly, and simple to integrate with, as possible.

Adoption: In line with being user focussed, all marketing and outreach will be to potential adopters, such as microtransaction marketplaces. The project is crafted in such a way that encourages all involved to focus on adoption.

Earned Value: no hype, no rush to get on exchanges, no ipo, premine, it's not a cash cow, it's a project to make a viable every day currency, any value will be earned.

Longevity: 0.250% (max) of the block reward goes to the bitmark development fund, supporting long term dedication to to the project, and future growth as value grows.

Distribution: A configuration which aims to ensure fair distribution whilst using proven PoW which has had substantial investment in hardware.

So, no hype or gimmicks, just a project which focusses on becoming a stable every day currency. Remember the days when the first bitcoins were gifted to each other, when buying a pizza was a milestone, when it was about developing a useful currency, when we asked how can we get x to use this, rather than what it it be worth tomorrow? this is about getting back to that ethos, whilst recognising the space has moved forward.

Project Status: We are close to releasing the first clone-able reference implementation (technically already complete), it's 90% of the bitmark foundation and serves as a modern, tested, codebase which other can fork and use to make their pump and dump clones. They're going to do it so we may as well ensure they're using safe tested code rather than copy and pastes of redundant code.

I don't think anyone is under any illusion about energy used on mining somehow inferring any kind of value in Bitmark.

[ethought]

Request
If anybody plans to have a bitmark node running on a server, and knows the fixed ip in advance, can you let me know so I can add it to the seed list before release.

172.31.31.10

[coinsolidation]

Bitmark Release Time
You decide, tick the date and time you want and enter your forum username: http://doodle.com/bvva2sa38nduicwz - no login or sign up required.

In 12 hours the top choice will be the release time.

------------------------

Request
If anybody plans to have a bitmark node running on a server, and knows the fixed ip in advance, can you let me know so I can add it to the seed list before release.

172.31.31.10

Thank you, anyone else?

[Androidicus]

Bitmark Release Time
You decide, tick the date and time you want and enter your forum username: http://doodle.com/bvva2sa38nduicwz - no login or sign up required.

In 12 hours the top choice will be the release time.

Done

Selfishly, I'm quite tied up with family matters this weekend!

But, also, I quite like Monday = 14.7.14 (well, in UK date format anyway)! The middle number is both in the middle and half of the the outer numbers... must be some deep mystical meaning there somewhere!

 

[coinsolidation]

We have had a counter proposal for the logo from Allow



Icon: https://i.imgur.com/PkADUkO.png
Black: https://i.imgur.com/JqgTn4R.png
White: https://i.imgur.com/dZKspOT.png
1024x1024: https://i.imgur.com/GRu6e4c.png
metal coin: https://i.imgur.com/sc9o7UD.png

Bitmark Release Time
You decide, tick the date and time you want bitmark to be released and enter your forum username: http://doodle.com/bvva2sa38nduicwz - no login or sign up required.

In 12 hours the top choice will be the release time.

Seed Nodes
If anybody plans to have a bitmark node running on a server, and knows the fixed ip in advance, can you let me know so I can add it to the seed list before release. We have three so far.

It would be nice to also have a TOR node which accepted IP transactions, and an IPv6 node.

[Allow]

[DarkhorseofNxt]

No doubt. The logo looks awesome. No doubt at all. Good man.

[deepcoreotc]

In the last few days, I have read all post, and have participated as much as I can.  Yet I can do more.  While I do consider myself a geeker, I do not know coding on the level that I would like. Having said that, by nature, I am an entrepreneur.  It is this nature that lead me to bitcoin and crypto currency in the first place.  Since the beginning of 2013, I no longer accept government fiat for my online product/service offers.  You might call me one of the crazy risk takers, yet I have chosen to be among the very few online merchants that is crypto only merchant.   It is slow, yet a greatly rewarding choice.  I do believe in this bitmark community and the concept at large.  In order to help the bitmark foundation, I propose to offer 20% of my online sells profits to the bitmark foundation, in the effort of support and future growth.  These transfer will occur on a monthly basis.  In all intent, consider this a funds raiser.  I am not a wealthy man, but I do have vision, and a positive outlook for the future of us all.  Here is the link to my site. http://jaysjerkyandgoodies.auctivacommerce.com/ 
I would appreciate any thoughts on my offer.  I have started a thread for the discussion.  https://bitcointalk.org/index.php?topic=687410.new#new

Sincerely in support of Bitmark project

Jay

[Androidicus]

In the last few days, I have read all post, and have participated as much as I can.  Yet I can do more.  While I do consider myself a geeker, I do not know coding on the level that I would like. Having said that, by nature, I am an entrepreneur.  It is this nature that lead me to bitcoin and crypto currency in the first place.  Since the beginning of 2013, I no longer accept government fiat for my online product/service offers.  You might call me one of the crazy risk takers, yet I have chosen to be among the very few online merchants that is crypto only merchant.   It is slow, yet a greatly rewarding choice.  I do believe in this bitmark community and the concept at large.  In order to help the bitmark foundation, I propose to offer 20% of my online sells profits to the bitmark foundation, in the effort of support and future growth.  These transfer will occur on a monthly basis.  In all intent, consider this a funds raiser.  I am not a wealthy man, but I do have vision, and a positive outlook for the future of us all.  Here is the link to my site. http://jaysjerkyandgoodies.auctivacommerce.com/ 
I would appreciate any thoughts on my offer.  I have started a thread for the discussion.  https://bitcointalk.org/index.php?topic=687410.new#new

Sincerely in support of Bitmark project

Jay

Respect 

[Este Nuno]

In the last few days, I have read all post, and have participated as much as I can.  Yet I can do more.  While I do consider myself a geeker, I do not know coding on the level that I would like. Having said that, by nature, I am an entrepreneur.  It is this nature that lead me to bitcoin and crypto currency in the first place.  Since the beginning of 2013, I no longer accept government fiat for my online product/service offers.  You might call me one of the crazy risk takers, yet I have chosen to be among the very few online merchants that is crypto only merchant.   It is slow, yet a greatly rewarding choice.  I do believe in this bitmark community and the concept at large.  In order to help the bitmark foundation, I propose to offer 20% of my online sells profits to the bitmark foundation, in the effort of support and future growth.  These transfer will occur on a monthly basis.  In all intent, consider this a funds raiser.  I am not a wealthy man, but I do have vision, and a positive outlook for the future of us all.  Here is the link to my site. http://jaysjerkyandgoodies.auctivacommerce.com/ 
I would appreciate any thoughts on my offer.  I have started a thread for the discussion.  https://bitcointalk.org/index.php?topic=687410.new#new

Sincerely in support of Bitmark project

Jay

Wow, that is very generous of you. I wish you success with your business.

[tdokta]

just been reading through all of this topic and the wiki in github. seems like there is a sound plan developing here with the Bitmark. wanting to join the mining pool for Bitmark once it is released, although cautious as we are operating 30mhs ... is 30mhs too fast for the development? ... keen to support Bitmark ... thanks.

[coinsolidation]

Bitmark Release is 2014-07-13 at 18:00 UTC
The community has decided, Bitmark will be released at 18:00 UTC on 2014-07-13. Tomorrow.

Branding Allow is producing some very fine work for Bitmark, not only what you see above but also a home page for the website. I will re-brand the client using his proposed work today.

Jays Jerky and Goodies deepcoreotc has kindly offered to donate 20% of his online sales profits to the bitmark foundation. This is very admirable.
I would like to remind him and all of you, that any donations will follow the IPM model. The donation will be used to hire mining rigs to support the network, and he will receive 95% of the bitmarks mined, 5% will go to the foundation. I hope his kind offer and belief in the project will therefore pay him dividends in the future.

is 30mhs too fast for the development?

It is better to launch with a difficulty too high than too low. If it is too high the first blocks will be mined slower, which will be novel for the launch a new currency. If it is too low, the difficulty can increase up to 4 times.
The value was chosen to be a reasonable starting difficulty, and to ensure the first change is fairly accurate.
Since the block reward maturity is 721 confirmations, there will be no bitmarks available to transfer until after the first difficulty change, so speed of those blocks does not matter.

Thank you for the many kind words, and the many pages of useful discussion.

Seed Nodes If anybody plans to have a bitmark node running on a server, and knows the fixed ip in advance, can you let me know so I can add it to the seed list before release. We have three so far.

It would be nice to also have a TOR node which accepted IP transactions, and an IPv6 node.

[emdje]

Maybe I missed it,  but where can I download the qt?

And I am considering to donate,  but therefore I need a bitmark wallet address or can that be given later?

And good luck tomorrow with this marvelous project!

[coinsolidation]

Maybe I missed it,  but where can I download the qt?

And I am considering to donate,  but therefore I need a bitmark wallet address or can that be given later?

And good luck tomorrow with this marvelous project!

Bitmark QT, daemon, and cli for 32bit and 64bit versions of Linux, Windows, and Mac will be posted here tomorrow at the release time.

Nobody has early access, including the one confirmed pool (miningpool.co), I am unsure what time ethought plans to release Bitmark on this pool, I expect shortly after release.

We have already had a test run with a cross compiled pre-release and tested successfully on all platforms.

A Bitmark Foundation address for BTM donations will also be specified at release time.
For now the BTC donation address is 18rai2ichzUfXG6PVmUQLNPqBjtctnVRAD, all donations will be used according to the IPM proposal.

Thank you for your kind comments emdje, they are appreciated.

Tomorrow is historically a sad day marking the anniversary of the death of a loved one, I look forward to both being occupied and having something good to associate with this date instead.

I sincerely hope that the valuable discussion continues after the first release, for that is when we really get to work at making Bitmark what it intends to be.

This thread may get cluttered after tomorrow, we should discuss how and where to host future discussions of the quality so far.

[Este Nuno]

Maybe I missed it,  but where can I download the qt?

And I am considering to donate,  but therefore I need a bitmark wallet address or can that be given later?

And good luck tomorrow with this marvelous project!

Bitmark QT, daemon, and cli for 32bit and 64bit versions of Linux, Windows, and Mac will be posted here tomorrow at the release time.

Nobody has early access, including the one confirmed pool (miningpool.co), I am unsure what time ethought plans to release Bitmark on this pool, I expect shortly after release.

We have already had a test run with a cross compiled pre-release and tested successfully on all platforms.

A Bitmark Foundation address for BTM donations will also be specified at release time.
For now the BTC donation address is 18rai2ichzUfXG6PVmUQLNPqBjtctnVRAD, all donations will be used according to the IPM proposal.

Thank you for your kind comments emdje, they are appreciated.

Tomorrow is historically a sad day marking the anniversary of the death of a loved one, I look forward to both being occupied and having something good to associate with this date instead.

I sincerely hope that the valuable discussion continues after the first release, for that is when we really get to work at making Bitmark what it intends to be.

This thread may get cluttered after tomorrow, we should discuss how and where to host future discussions of the quality so far.

Maybe basecamp or something similar to discuss the project?