Bitmark

[masternode]

Want.  Where can i get one of these?

[coinsolidation]

Want.  Where can i get one of these?

Soon, still nailing the specification to embed entropy in the designs.

The idea is very cool, as designers who currently try to find through doing clothing designs, may have a much bigger audience when doing very custom one off wearable wallets. The concept scales out to all clothing, and also to stickers, badges, bumper stickers, laptop/tablet/mobile covers, and so on.

[sly5am]

mined at 30mh on ipominer.com  for 12 hrs and never made 1 coin. whats up with this diff?

[coinsolidation]

mined at 30mh on ipominer.com  for 12 hrs and never made 1 coin. whats up with this diff?

I didn't realize we were on ipominer.com, I have not seen any mention, and cannot see it on their homepage.

Our diff is quite high, but may go higher, your 30MH/s should produce about 3 BTM in 12 hours, perhaps try a bigger pool, or mine far more consistently to receive more accurate rewards.

[coinsolidation]

Some news for you guys, we're running a Beta of SimpleMulti. Note that we don't have a profit switching port up yet - but we have just enabled payouts in BTM.

ETA on the profit switching port is a week or two.

Now we have a multipool paying out BTM, and a great one at that

[fumanchu808]

Mentioned Bitmark (again) in my latest article. You guys just won't slow down will you?

http://bitcoinist.net/todays-top-dogs-9-21/

[coinsolidation]

Mentioned Bitmark (again) in my latest article. You guys just won't slow down will you?

http://bitcoinist.net/todays-top-dogs-9-21/

Thank you, and no we won't I see you wrote

With plans of my own to develop something in their niche

Perhaps we can help you with that, would you like an invite to our team environment on slack? If so, please pm your address and we'll send one straight out.

[btcney]

There's a rumour that the BTM dev is actually Satoshi Nakamoto 

[Este Nuno]

There's a rumour that the BTM dev is actually Satoshi Nakamoto  

I doubt that, but attempting to follow Satoshi's original vision of Bitcoin based on how it was presented in the original whitepaper and subsequent postings? Yes.

OK, so why do I say bitmark is the purest implementation of satoshi's paper.  Three reasons.

1. Even from the first sentence Sashosi argues that micro trust is good enough for most transactions but presents a weakness that zero trust addresses.  My interpretation of this is that, just as in real life, micro trust and zero trust are not binary options, but rather, work together.  Bitmark does that.

2. Satoshi talks about reclaiming space from transactions.  RESTful architecture is the most tried and tested way of doing this, we turn the web into our distributed database, giving massive storage, redundancy and bandwidth.  In addition we still have a strong P2P network working together.  This tech can be ported back to bitcoin and block explorers, creating a common standard.

3. Satoshi was working on a review and rating system before he left.  That work was abandoned with him.  But it's something that is at the core of marking and layered on top of the crypto currency bitmark.  I think this is the direction Satoshi would have wanted his work to go.

[coinsolidation]

We're working on specifications to encode addresses inside the mark heart, 2^112 with a check block. Possibly 2^288 (crypto coin addresses have a space of 2^160)

mark heart can be added to any product in the world so you can give credit to the original designer / creator.

it can dual encode, and dereference data, so you can mark the wearer of an item of clothing or the items creator

there are infinite possibilities and applications

character models for your kids, with the mark heart on them, so you can mark them for good behavior, it's digital rep+pocket money, a replacement for the piggy bank.

stickers, badges, bumper stickers, laptop/tablet/mobile covers, keyrings, jewelry, like anniversary gifts, necklaces and stuff like that with matching earings
there's bracelets from the designer pandora, with little charms which go on bracelets, you could make them for that too
cups, mugs, pens, mousemats, corporate gifts

every product in the world can have one on, so you can reward any designer / creator, or even pay for the thing.

over time it could even change shopping, where you pay for the thing by marking straight to the creator, and pay a fee to enter the shop, or just mark them on the way out.

it can also help with say ticket fraud, if each ticket had the mark heart on it, and that is how you paid, the any reproductions or fakes would send funds straight to the creator, and any distributor or reseller couldn't charge over the odds, because the funds would go straight to the people who should get the funds.

[SpringfieldM1A]

There's a rumour that the BTM dev is actually Satoshi Nakamoto  

There are around 50 people working on BTM, so there isn't one specific dev However, BTM looks like BTC evolved in a sense. It's also strongly driven by community spirit without being focused solely on monetary gains. I can therefore imagine Satoshi Nakamoto giving an appreciative nod to BTM should he be aware of the project, but being part of the dev team? I doubt it (would be extremely cool though)

[Thomas-s]

Don't trade on Cryptsy unless you hate your BTM.

[coinsolidation]

Don't trade on Cryptsy unless you hate your BTM.

Poloniex - We have reviewed security, and have a great working relationship with the staff, and clear communication channels.
Bittrex - We have not reviewed security but understand it to be created by security professionals, we have clear communication channels in case of emergency.
Cryptsy - Have never spoken to us, and are notoriously slow to respond and prone to error. We would prefer removal from this exchange.

Satoshi Nakamoto

If he is a member of the team he has not made it known to us, I can confirm that neither main developer is Satoshi, but we have both studied his words intensively and merged his thinking with that of other thought leaders. People like Satoshi are our peers.

[jjj0923]

question - in this block chain I've observed that block are not being generated at the advertised rate.

I see this but rarely a new block height message:

2014-09-22 17:30:48 keypool reserve 3
2014-09-22 17:30:48 keypool return 3
2014-09-22 17:30:52 CreateNewBlock(): total size 4370
2014-09-22 17:31:21 keypool reserve 3
2014-09-22 17:31:21 keypool return 3
2014-09-22 17:31:54 keypool reserve 3
2014-09-22 17:31:54 keypool return 3
2014-09-22 17:32:27 keypool reserve 3
2014-09-22 17:32:27 keypool return 3
2014-09-22 17:33:00 keypool reserve 3
2014-09-22 17:33:00 keypool return 3
2014-09-22 17:33:33 keypool reserve 3
2014-09-22 17:33:33 keypool return 3
2014-09-22 17:34:03 keypool reserve 3
2014-09-22 17:34:03 keypool return 3
2014-09-22 17:34:17 CreateNewBlock(): total size 4562
2014-09-22 17:34:37 keypool reserve 3
2014-09-22 17:34:37 keypool return 3
2014-09-22 17:35:10 keypool reserve 3
2014-09-22 17:35:10 keypool return 3
2014-09-22 17:35:43 keypool reserve 3
2014-09-22 17:35:43 keypool return 3
2014-09-22 17:36:00 keypool reserve 3
2014-09-22 17:36:00 keypool return 3
2014-09-22 17:36:16 keypool reserve 3
2014-09-22 17:36:16 keypool return 3
2014-09-22 17:36:49 keypool reserve 3
2014-09-22 17:36:49 keypool return 3

[coinsolidation]

question - in this block chain I've observed that block are not being generated at the advertised rate.

There is no such thing as an "advertised rate".

Block: 42105,Target: 69.91 GH/s, Hashrate: 9.81, 9.30, 9.27 GH/s, Performance: 20.41%
Diff: 1953.27040885, next: ~488 (confidence 47%) - Last Retarget: 56.33 hrs ago, change in 375 blocks (~61.25 hrs)

Expect to see blocks on average every 10 minutes for now, until either difficulty changes in 2-3 days, or hashrate increases back up to the target.

[jjj0923]

question - in this block chain I've observed that block are not being generated at the advertised rate.

There is no such thing as an "advertised rate".

Block: 42105,Target: 69.91 GH/s, Hashrate: 9.81, 9.30, 9.27 GH/s, Performance: 20.41%
Diff: 1953.27040885, next: ~488 (confidence 47%) - Last Retarget: 56.33 hrs ago, change in 375 blocks (~61.25 hrs)

Expect to see blocks on average every 10 minutes for now, until either difficulty changes in 2-3 days, or hashrate increases back up to the target.

so this in the OP in not true?

Coin Specs
Algorithm: Scrypt
Block Reward: 20 BTM (visual)
Block Time: 120 Seconds
Block Maturity: 720 Blocks (~1 day) to discourage multipools
Block Halving: Reward halves every 3 years, with intermediate decrease every 18 months (20 coins initially, 15 after 1.5 years, 10 after 3 years, etc...)
Difficulty Retargeting: 720 Blocks (~1 day)
Total Coin Supply: ~27.58 million (27,579,894.73108000 exactly)

[raulrichart]

mined at 30mh on ipominer.com  for 12 hrs and never made 1 coin. whats up with this diff?

I didn't realize we were on ipominer.com, I have not seen any mention, and cannot see it on their homepage.

Our diff is quite high, but may go higher, your 30MH/s should produce about 3 BTM in 12 hours, perhaps try a bigger pool, or mine far more consistently to receive more accurate rewards.

hello, what is your pool?

[SpringfieldM1A]

Satoshi Nakamoto

If he is a member of the team he has not made it known to us, I can confirm that neither main developer is Satoshi, but we have both studied his words intensively and merged his thinking with that of other thought leaders. People like Satoshi are our peers.

Yes, this is what I meant. I feel like BTM is a continuation of Satoshi's work. It's in line with his ideas as outlined in his original Bitcoin whitepaper. Bitcoin is getting more and more mainstream adoption, it's only logicial for step two; the consolidation of Bitcoin's blockchain technology and connected services and by doing so enhancing people's lives.

I wish you guys all the best, I've been silently following this thread (and your other sources) for a while now and I really dig what you are doing.

[coinsolidation]

question - in this block chain I've observed that block are not being generated at the advertised rate.

There is no such thing as an "advertised rate".

Block: 42105, Target: 69.91 GH/s, Hashrate: 9.81, 9.30, 9.27 GH/s, Performance: 20.41%
Diff: 1953.27040885, next: ~488 (confidence 47%) - Last Retarget: 56.33 hrs ago, change in 375 blocks (~61.25 hrs)

Expect to see blocks on average every 10 minutes for now, until either difficulty changes in 2-3 days, or hashrate increases back up to the target.

so this in the OP in not true?

Coin Specs
Algorithm: Scrypt
Block Reward: 20 BTM (visual)
Block Time: 120 Seconds
Block Maturity: 720 Blocks (~1 day) to discourage multipools
Block Halving: Reward halves every 3 years, with intermediate decrease every 18 months (20 coins initially, 15 after 1.5 years, 10 after 3 years, etc...)
Difficulty Retargeting: 720 Blocks (~1 day)
Total Coin Supply: ~27.58 million (27,579,894.73108000 exactly)

The OP is accurate, please let me explain how this part of mining crypto currencies works.

Every 720 blocks, the network calculates the speed at which new blocks had been found, and then calculates the effective hashrate needed to find a new block at the target time of 120 seconds.

For the last round of mining, the network averaged at 69.91 GH/s which entailed a new network difficulty of 1953.27040885.

The difficulty therefore determines production speed, if the network remains at the average of 69GH/s blocks will be found every 120 seconds.

Since the difficulty change network hashrate has lowered, so blocks are now being found slower than the target speed of 120 seconds. If the hashrate was higher than 120 seconds then blocks would be found faster than 120 seconds on average.

The difficulty will fall in 2-3 days (unless the network speeds up), at which point blocks will be easier to find, and most likely the hashrate will increase massively as miners notoriously use profitability calculations which do not make any sense. So when the difficulty drops you can expect to see the hash rate increase, perhaps up to peaks of 200GH/s like last time.

For now blocks are being found much slower, 5x slower, than would be most optimal. If you would like to see this speed increase, encourage miners to mine more consistently.

Mining is not a free money printing machine, it is a service, when the network is slower less blocks are found, and therefore less currency created per day.

Satoshi Nakamoto

If he is a member of the team he has not made it known to us, I can confirm that neither main developer is Satoshi, but we have both studied his words intensively and merged his thinking with that of other thought leaders. People like Satoshi are our peers.

Yes, this is what I meant. I feel like BTM is a continuation of Satoshi's work. It's in line with his ideas as outlined in his original Bitcoin whitepaper. Bitcoin is getting more and more mainstream adoption, it's only logicial for step two; the consolidation of Bitcoin's blockchain technology and connected services and by doing so enhancing people's lives.

I wish you guys all the best, I've been silently following this thread (and your other sources) for a while now and I really dig what you are doing.

Thank you very much, we hope to hear more from you as time progresses

[jjj0923]

that is a great explanation - thank you very much.