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Author Topic: [♔] British Digital Currency | 5% annual PoS - Bittrex - Fiat to BritCoin [BRIT]  (Read 123537 times)
DAoneG
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July 20, 2014, 11:02:00 AM
 #1041

Guys, what was your lowest brit payment received from coinking?? i haven´t received any coins... lucky i stoped mining there last week...

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madjules007
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July 20, 2014, 11:02:49 AM
 #1042

The price just dropped below 200 sats Shocked

Prices will rise, prices will fall.. Such is the nature of the beast.  But it's a great time for new buyers to get in to BritCoin, considering there are only 10.8m coins in existence the price is really undervalued.  Remember that BritCoin was only launched 3 weeks ago yesterday, so we're still in the very early days, we have a lot of plans for the future so it's a case of being patient and being rewarded afterwards. Smiley

It's undervalued if anything ever happens with it.  But you haven't indicated anything ever will.  Lofty goals about "becoming the official cryptocurrency of the UK" and tweeting news outlets to get an article written do not = innovation.  Innovation drives currency values - not long term hopes of adoption.  Want the price to go up?  Innovate.  And I'm not talking about anon.

I do have to agree with this, just didn't want to post about it for the risk of it being seen as FUD or scaring ppl off. It seems from the get-go you are expecting a lot from the community, which is ok, but when a coin gets launched you usually expect some unique selling points and idea's from the dev(s).

I bought 70k between 700-800 sat at the time, before Bittrex added. It just feels that it's constantly dwindling down with not a lot of activity. There should have been more things happening to keep the momentum going.

Are there any actual plans still being developed, besides contacting other news outlets to get the word out etc?

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July 20, 2014, 12:15:12 PM
 #1043

Have you read the 'Updates' section or our whitepaper?  We have plenty of plans currently in development. Smiley

I keep stressing the word patience because people shouldn't expect miracles to happen overnight.  Things take time to develop, just a fact of life.  Have faith in BritCoin, we're doing everything we can to make this work and need support.  Ask yourself what have you done to spread awareness of BritCoin?  Remember that BritCoin is a decentralized currency, I nor any of the BritCoin staff own BritCoin, its success is fundamental dependant on the users, all of us.

If you complain the price is low, there's a good chance you're partly the reason why. Smiley

The price just dropped below 200 sats Shocked

Prices will rise, prices will fall.. Such is the nature of the beast.  But it's a great time for new buyers to get in to BritCoin, considering there are only 10.8m coins in existence the price is really undervalued.  Remember that BritCoin was only launched 3 weeks ago yesterday, so we're still in the very early days, we have a lot of plans for the future so it's a case of being patient and being rewarded afterwards. Smiley

It's undervalued if anything ever happens with it.  But you haven't indicated anything ever will.  Lofty goals about "becoming the official cryptocurrency of the UK" and tweeting news outlets to get an article written do not = innovation.  Innovation drives currency values - not long term hopes of adoption.  Want the price to go up?  Innovate.  And I'm not talking about anon.

I do have to agree with this, just didn't want to post about it for the risk of it being seen as FUD or scaring ppl off. It seems from the get-go you are expecting a lot from the community, which is ok, but when a coin gets launched you usually expect some unique selling points and idea's from the dev(s).

I bought 70k between 700-800 sat at the time, before Bittrex added. It just feels that it's constantly dwindling down with not a lot of activity. There should have been more things happening to keep the momentum going.

Are there any actual plans still being developed, besides contacting other news outlets to get the word out etc?

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July 20, 2014, 01:30:44 PM
 #1044

Have you read the 'Updates' section or our whitepaper?  We have plenty of plans currently in development. Smiley

I keep stressing the word patience because people shouldn't expect miracles to happen overnight.  Things take time to develop, just a fact of life.  Have faith in BritCoin, we're doing everything we can to make this work and need support.  Ask yourself what have you done to spread awareness of BritCoin?  Remember that BritCoin is a decentralized currency, I nor any of the BritCoin staff own BritCoin, its success is fundamental dependant on the users, all of us.

If you complain the price is low, there's a good chance you're partly the reason why. Smiley

Can you please quote first and then reply below the quote? It makes it easier to read and to re-quote Wink

Yes I have read it, and in each step you keep asking for the community to get in touch with Coinpayments.net, pock.io. You ask the community to tweet Forbes, BBC, Wired etc. You ask the community to develop an Android wallet/Block explorer/Multipool/Promotional video/Marketplace. Ofcourse the community needs to partake, but it just feels like you rely a bit too much on it.

Yes, you are in contact to get FIAT to BRIT and to get public ATM's, which again is good, but why would the average joe want to buy BRIT? What makes it special, what are the advantages over Bitcoin for instance, other than the obvious faster transaction times and PoS interest?

If you really want to overtake PayPal and Skrill, which is a huge goal, what are the steps you will be taking to get there?

You have said you've been working on BRIT 12-16 hours a day if I recall correctly, what are these hours spent on? Does it really take 12-16 hours daily to e-mail third parties getting them to accept BRIT?

Again, I really don't want to seem to negative, I have been tweeting about BRIT as well and getting friends to buy in, but there seems to be a lack of actual real developments.

[edit] And I think you should have some BRIT, to have more incentive to keep building and developing. Can you open a donation address?

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July 20, 2014, 02:30:54 PM
 #1045

Have you read the 'Updates' section or our whitepaper?  We have plenty of plans currently in development. Smiley

I keep stressing the word patience because people shouldn't expect miracles to happen overnight.  Things take time to develop, just a fact of life.  Have faith in BritCoin, we're doing everything we can to make this work and need support.  Ask yourself what have you done to spread awareness of BritCoin?  Remember that BritCoin is a decentralized currency, I nor any of the BritCoin staff own BritCoin, its success is fundamental dependant on the users, all of us.

If you complain the price is low, there's a good chance you're partly the reason why. Smiley

Can you please quote first and then reply below the quote? It makes it easier to read and to re-quote Wink

Yes I have read it, and in each step you keep asking for the community to get in touch with Coinpayments.net, pock.io. You ask the community to tweet Forbes, BBC, Wired etc. You ask the community to develop an Android wallet/Block explorer/Multipool/Promotional video/Marketplace. Ofcourse the community needs to partake, but it just feels like you rely a bit too much on it.

Yes, you are in contact to get FIAT to BRIT and to get public ATM's, which again is good, but why would the average joe want to buy BRIT? What makes it special, what are the advantages over Bitcoin for instance, other than the obvious faster transaction times and PoS interest?

If you really want to overtake PayPal and Skrill, which is a huge goal, what are the steps you will be taking to get there?

You have said you've been working on BRIT 12-16 hours a day if I recall correctly, what are these hours spent on? Does it really take 12-16 hours daily to e-mail third parties getting them to accept BRIT?

Again, I really don't want to seem to negative, I have been tweeting about BRIT as well and getting friends to buy in, but there seems to be a lack of actual real developments.

[edit] And I think you should have some BRIT, to have more incentive to keep building and developing. Can you open a donation address?


I have been in touch with coinpayments and pock etc and they've told me they will add BritCoin is there's sufficient support from the community.  So asking the community to support us is not being overly reliant on them, it's just something that we need to do.  And as far as development bounties go, that's the reason we had the 1% premine.  You really think it's wise to take on 8+ development tasks in one go between a small team of us, or is it better to offer bounties to people who have more experience in whatever they're developing and have it done much quicker?

For example we're re-launching our website (britcoin.io) this evening, tomorrow we have our PR release distributed and we're hoping our fiat to brit platform will go live soon.  So we are working on important things, we just know we can get even more done with help from the community.

As for your questioning of my hours spent working on Brit I don't think you understand how many people/partners I have to deal with on a daily basis, sending and reading emails, PMs, tweets etc takes up a lot of time.

BritCoin is just over 3 weeks old now and we've come a really long way in that time, as I've said before everyone needs to be patient and good things will come. Smiley

Thanks for your support so far btw, hope you'll stick with us and we'll see how far we can take this project. Smiley


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July 20, 2014, 02:47:45 PM
 #1046

Don't worry Smiley just keep going Smiley

Because of this way of developing this coin is so special  Cool

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July 20, 2014, 04:44:39 PM
 #1047

New website should be launched soon, just going over it for spelling/grammatical mistakes then I will put it live. Smiley

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July 20, 2014, 06:52:35 PM
 #1048

Website has been relaunched!  Grin

http://britcoin.io/

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July 20, 2014, 07:51:04 PM
 #1049

Website has been relaunched!  Grin

http://britcoin.io/

Thanks William, it's looking really nice.

One query - the wallet seems to stake less than expected (i.e. the returns are nowhere near 5% a year) - is there a new version coming which fixes this?
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July 20, 2014, 08:29:27 PM
 #1050

I agree.  It looks a lot nicer now.

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July 20, 2014, 08:36:34 PM
 #1051

Website has been relaunched!  Grin

http://britcoin.io/

I like that!  Grin

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July 20, 2014, 08:38:32 PM
 #1052

WOW such a nice website guys! really good work its just the beginning. Im proud of BRIT Development !

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July 20, 2014, 08:45:28 PM
 #1053

Thanks for the feedback.  Regarding your stake issue, are you using the OSx wallet?  We've had someone else mention their stake wasn't correct, once we find out why we will fix it. Smiley

Website has been relaunched!  Grin

http://britcoin.io/

Thanks William, it's looking really nice.

One query - the wallet seems to stake less than expected (i.e. the returns are nowhere near 5% a year) - is there a new version coming which fixes this?


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July 20, 2014, 08:50:07 PM
 #1054

Website has been relaunched!  Grin

http://britcoin.io/

I like that!  Grin

I'm glad you like it! Smiley  We're distributing our PR article tomorrow morning/afternoon so we thought it be a good idea to improve the website before the general public (hopefully) pick up on BritCoin. Smiley

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July 20, 2014, 09:27:30 PM
 #1055

Thanks for the feedback.  Regarding your stake issue, are you using the OSx wallet?  We've had someone else mention their stake wasn't correct, once we find out why we will fix it. Smiley

Website has been relaunched!  Grin

http://britcoin.io/

Thanks William, it's looking really nice.

One query - the wallet seems to stake less than expected (i.e. the returns are nowhere near 5% a year) - is there a new version coming which fixes this?


Yes I'm running the OSX wallet, however a friend has the Windows wallet and said the same thing to me?

Can anyone confirm they're getting what they expect, interest wise?
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July 20, 2014, 10:10:44 PM
 #1056

Thanks for the feedback.  Regarding your stake issue, are you using the OSx wallet?  We've had someone else mention their stake wasn't correct, once we find out why we will fix it. Smiley

Website has been relaunched!  Grin

http://britcoin.io/

Thanks William, it's looking really nice.

One query - the wallet seems to stake less than expected (i.e. the returns are nowhere near 5% a year) - is there a new version coming which fixes this?


Yes I'm running the OSX wallet, however a friend has the Windows wallet and said the same thing to me?

Can anyone confirm they're getting what they expect, interest wise?

How are you counting your total staked coins?  It can be quite confusing to add them all up, I get hundreds of stake payments per day.  To work out exactly how many coins you're getting per day follow these steps;

Open your BritCoin wallet and go to 'Transactions'
Click the drop down box that says 'All' and select 'range' and enter yesterdays date
Click the drop down box to the right and select 'Mined'
Now click on 'Export' and save it as a .cvs file
Go to docs.google.com (or use Excel/OpenOffice) and open up the file
Click on a blank square and add all the 'Amount' column by doing "=SUM(F3:F324)" for example

I've just done this and my daily stake was near exactly 5% of my total coins / 365. Smiley

Let me know if this helps.  We're adding a statistics feature in our next wallet update, will see if we can get daily staked coins put in there. Smiley

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July 20, 2014, 11:13:56 PM
 #1057

I'm on Win 7 x64 - it looks like staking correct.

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July 21, 2014, 07:36:06 AM
 #1058

Press release should be published this afternoon, really hope some major news outlets pick up on it over the next few days/week. Smiley

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July 21, 2014, 11:09:43 AM
 #1059

William, I presume you are the @britcoin twitter account too? I sent you screenshots of the staking not being right ages ago and you said you would follow up with the coin developer? I'm still getting nothing like the right amount of coins.

As a final test I'll install the windows wallet and send all my coins there and wait a day to see if it's anything near it should be. Looking at the block explorer though, no blocks are generated with a decent amount of stake interest in them - my coins can sit there all day and get between 2-3 in total. It's as if we're getting tx fees or a very small amount compared to 5%.

Obviously none of this means much while Britcoin is young and of little value price wise, but it'd be good to understand whether this is a real issue or not. As I say, I'm not the only one to notice this.

Perhaps others see it as correct because it happens that we all get the same kind of returns and that may equal 5% a year to them?
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July 21, 2014, 01:05:48 PM
 #1060

Hello, really sorry for not getting back to you.  We still haven't figured out why you're not getting the right amount of stake, I have been shown the lines of code responsible for calculating and paying stake and everything checks out.  I don't have OSx to test it out myself, but if we can't figure out what's causing it then I'll rent a virtual OSx box to do testing.

Btw, is your wallet unlocked?  It needs to be un-locked to receive your stake.  Also how are you calculating your daily mined coins?

I'm sure we'll figure this out one way or another, thanks for your support. Smiley

William, I presume you are the @britcoin twitter account too? I sent you screenshots of the staking not being right ages ago and you said you would follow up with the coin developer? I'm still getting nothing like the right amount of coins.

As a final test I'll install the windows wallet and send all my coins there and wait a day to see if it's anything near it should be. Looking at the block explorer though, no blocks are generated with a decent amount of stake interest in them - my 600k coins can sit there all day and get between 2-3 in total. It's as if we're getting tx fees or a very small amount compared to 5%.

Obviously none of this means much while Britcoin is young and of little value price wise, but it'd be good to understand whether this is a real issue or not. As I say, I'm not the only one to notice this.

Perhaps others see it as correct because it happens that we all get the same kind of returns and that may equal 5% a year to them?

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