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Author Topic: BTCD is no more  (Read 1315626 times)
clovis A.
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August 18, 2014, 09:43:52 PM
 #3781

This is off topic, but i couldn't help notice the "Network Weight" hit 199k a few minutes ago Smiley.  What's the highest anyone has seen this go?
250K

I estimate almost 80% is staking! thats nearly 1 million BTCD staking away.
we like our 5% interest Smiley

We sure know how to HODL Smiley

Wow, 250k is up there!  How am I ever going to allow myself to transact with btcd?  Gonna have a hard time spending any until I feel we've reached fair market value.  Problem is, I have no clue when that will be......  Smiley

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August 18, 2014, 09:44:04 PM
 #3782

Forcing people to hold BTCD not a good idea. If they use the service, BTCD holders are earning so that's fine.

At least wait until there is a huge user base and momentum before considering tiny fees.

Less barriers the better.

No offense to your opinion, but what the hell is the point of holding any BTCD if there aren't charges or required minimum BTCD amounts held to teleport???

Can someone please list the reasons as to why I would want to hold any BTCD at all if there is no fee or required deposit to be handled in BTCD?

Please list those reasons.

Thanks.
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August 18, 2014, 09:48:23 PM
 #3783

Forcing people to hold BTCD not a good idea. If they use the service, BTCD holders are earning so that's fine.

At least wait until there is a huge user base and momentum before considering tiny fees.

Less barriers the better.

No offense to your statement, but what the hell is the point of holding any BTCD if there aren't charges or minimum BTCD amounts held to teleport???

Can someone please list the reasons as to why I would want to hold any BTCD at all if there is no fee or required deposit?

Please list those reasons.

Thanks.
5% staking, InstantDEX revenue sharing, Privatebet, whatever other tech I add

that being said, I am strongly leaning toward a min. deposit that unlock free basic teleport, but for more advanced features like faster teleport times, M of bigger N, whatever other premium features I come up with, would require larger deposit to unlock

I think this satisfies both the creating demand for BTCD and minimizing the barrier to teleporting quite nicely and should get us 90%+ the teleport activiting a totally free setup would get

James

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
CrimsonPermanentAssurance
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August 18, 2014, 09:54:00 PM
 #3784

Forcing people to hold BTCD not a good idea. If they use the service, BTCD holders are earning so that's fine.

At least wait until there is a huge user base and momentum before considering tiny fees.

Less barriers the better.

No offense to your statement, but what the hell is the point of holding any BTCD if there aren't charges or minimum BTCD amounts held to teleport???

Can someone please list the reasons as to why I would want to hold any BTCD at all if there is no fee or required deposit?

Please list those reasons.

Thanks.
5% staking, InstantDEX revenue sharing, Privatebet, whatever other tech I add

that being said, I am strongly leaning toward a min. deposit that unlock free basic teleport, but for more advanced features like faster teleport times, M of bigger N, whatever other premium features I come up with, would require larger deposit to unlock

I think this satisfies both the creating demand for BTCD and minimizing the barrier to teleporting quite nicely and should get us 90%+ the teleport activiting a totally free setup would get

James

I appreciate the quick response. Thanks, James!!!

I would also encourage a minimum holding required to use teleport, no matter what, and I strongly encourage that amount should be well more than 1 BTCD, at least in the beginning. 1 BTCD is barely pocket change.

What happened with KEY has nothing to do with their minimum holding required. That has to do with the KEY team not having people's trust.
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August 18, 2014, 10:05:30 PM
 #3785

Forcing people to hold BTCD not a good idea. If they use the service, BTCD holders are earning so that's fine.

At least wait until there is a huge user base and momentum before considering tiny fees.

Less barriers the better.

No offense to your statement, but what the hell is the point of holding any BTCD if there aren't charges or minimum BTCD amounts held to teleport???

Can someone please list the reasons as to why I would want to hold any BTCD at all if there is no fee or required deposit?

Please list those reasons.

Thanks.
5% staking, InstantDEX revenue sharing, Privatebet, whatever other tech I add

that being said, I am strongly leaning toward a min. deposit that unlock free basic teleport, but for more advanced features like faster teleport times, M of bigger N, whatever other premium features I come up with, would require larger deposit to unlock

I think this satisfies both the creating demand for BTCD and minimizing the barrier to teleporting quite nicely and should get us 90%+ the teleport activiting a totally free setup would get

James

I appreciate the quick response. Thanks, James!!!

I would also encourage a minimum holding required to use teleport, no matter what, and I strongly encourage that amount should be well more than 1 BTCD, at least in the beginning. 1 BTCD is barely pocket change.

What happened with KEY has nothing to do with their minimum holding required. That has to do with the KEY team not having people's trust.
I aim for 100,000 pockets Smiley
with so few BTCD, the supply/demand will create artificial shortage and I dont want to have such things distort the price. Short term it will look fine, but look at AUR. prime example of artificial shortage. I think ~10,000 coins were traded back and forth all the way to > 0.1 BTC. It has lost 99.9%+ of its price. Now of course AUR is no BTCD, but whenever there is an overpricing, that means some people are benefiting (sellers) and others are overpaying (buyers), so you cannot have an overpricing without creating a group of people who will have a hard time to not get a negative experience with BTCD.

That is not good. The price should always be as close to its actual value as possible and artificial shortage by its nature is changing the available supply. It is part of the coin, so some could say it is "natural", but it helps to think about such things using extreme endpoints. What if the deposit required was 1000 BTCD? See, that is such a big amount that it will severely limit the people that could use Teleport, which goes against the entire point.

So, I want the price to be so low that thousands of people wont even bother to think about it, maybe they just get 254 so they can have the option of M of 254. So even with 1 BTCD as the minimum, the premium deposits are still possible, but for most people most of the time, 1 BTCD is all that is required.

Once we get to 100,000 teleporters, the deposit would need to be reduced to 0.1 BTCD. Will this create an avalanche of people selling 0.9 BTCD? I think no.

James

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
jl777
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August 18, 2014, 10:20:12 PM
 #3786

Wow, using PoS with 5% staking and if you use the Tor network (that exists for anybody to use and for govts to infiltrate) you get this fantastic thing called anonymity. And you guys are willing to conquer wall street!  Why didnt I think of this? Would have saved me so much time

I think you are lost. Maybe you need to go to some other thread? I am laughing so hard now, it is distracting

James

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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August 18, 2014, 10:27:04 PM
 #3787


LOL wrong thread dude. Nobody from BTCD is coming into ARCoin's thread. Says a lot!
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August 18, 2014, 10:28:26 PM
 #3788

Forcing people to hold BTCD not a good idea. If they use the service, BTCD holders are earning so that's fine.

At least wait until there is a huge user base and momentum before considering tiny fees.

Less barriers the better.

No offense to your opinion, but what the hell is the point of holding any BTCD if there aren't charges or required minimum BTCD amounts held to teleport???

Can someone please list the reasons as to why I would want to hold any BTCD at all if there is no fee or required deposit to be handled in BTCD?

Please list those reasons.

Thanks.

How much do people pay to use Gmail, Facebook, Twitter and Google search?  Nothing

These companies get a huge user base then work out ways to earn income. By the time users get charged some form of minimal fee, they are so used to using it that they don't change. And the product is so good, they are happy to pay a small fee or look at advertisements.

You want to hold BTCD because of the current and future income earning opportunities.

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August 18, 2014, 10:46:33 PM
 #3789

Do you have any idea or explanation how this Coin keept it's value in this bloody days?

There is close to nothing that makes this coin looking attractive to me personel but this observed price stability fact makes me very courious. That's an indication for value.


With all do respect, it seems you know nothing about the Bitcoindark.  Please check the OP and read the following links. I think you will find the answers you're looking for.

New Visitors please take a look at the following for more information about BitcoinDark!

1) http://finance.yahoo.com/news/bitcoin-made-anonymous-bitcoindark-unprecedented-033200415.html?soc_src=mediacontentstory

2) http://bitscan.com/articles/anonymity-why-dark-is-the-new-black

3) http://nxter.org/btcd-to-pay-bitcoin-dividends-after-link-with-instantdex-instant-trading-service/

4) DarkPaper: http://www.flipgorilla.com/p/23023990364728535/show#/23023990364728535/0




Thank you for all the answers especially to jl777 intersting view.


@Azeh:

I know not much about BitcoinDark. The things I know I don't like. You may see them as more marginal points: The Name, sha256, the 2 week pow, the pos all this specs  things and there was talk abnout a premine where i haven't figured out how much it was.  It's a bit a personal taste but so I never cared to look deeper into it. I observe the markets and if I see something interesting like this price stability THAN this wakes me for a coin. I don't have to like a coin to invest in it. If a coin is fundamental good i will do. But thats what i am trying to  figure out now you see. Wink

So thank's for the links. Some of them I have already read a bit. My head is full of pirates of the caribians...
Is there a more technical paper too?


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August 18, 2014, 10:51:15 PM
 #3790

Holy crap.  Woke up this morning to discover that I had 'mined' ~0.0175BTCD after turning stake mechanism on my local bitcoindark-qt wallet on.  I'm seriously starting to fall in love with this alt!  Keep up the good work Smiley

BTC: 13sc5M4Y5Ufs1zeSihPS5U1Biscb9RFk6w
LTC: MR8d8YpdnJ47uZtrFeHEhLCV8TN2pg9KEJ
ETH/0x: 0xF0CA51114aaAC484dF1e7A2425fEb58130812E4c
ETC: 0x7e249C897eeB22EFA7B8d1605F3882C63b28ea9e
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August 18, 2014, 10:54:54 PM
 #3791

If you think that is cool try this.

I recently moved servers and created a new wallet with 12 addresses. Then I sent 2% of my coins from wallet 1 to wallet 12 then over again. Now I have lots of micro stakes all the time lol .





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SuperNET.org
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August 18, 2014, 10:56:12 PM
 #3792

Do you have any idea or explanation how this Coin keept it's value in this bloody days?

There is close to nothing that makes this coin looking attractive to me personel but this observed price stability fact makes me very courious. That's an indication for value.


With all do respect, it seems you know nothing about the Bitcoindark.  Please check the OP and read the following links. I think you will find the answers you're looking for.

New Visitors please take a look at the following for more information about BitcoinDark!

1) http://finance.yahoo.com/news/bitcoin-made-anonymous-bitcoindark-unprecedented-033200415.html?soc_src=mediacontentstory

2) http://bitscan.com/articles/anonymity-why-dark-is-the-new-black

3) http://nxter.org/btcd-to-pay-bitcoin-dividends-after-link-with-instantdex-instant-trading-service/

4) DarkPaper: http://www.flipgorilla.com/p/23023990364728535/show#/23023990364728535/0




Thank you for all the answers especially to jl777 intersting view.


@Azeh:

I know not much about BitcoinDark. The things I know I don't like. You may see them as more marginal points: The Name, sha256, the 2 week pow, the pos all this specs  things and there was talk abnout a premine where i haven't figured out how much it was.  It's a bit a personal taste but so I never cared to look deeper into it. I observe the markets and if I see something interesting like this price stability THAN this wakes me for a coin. I don't have to like a coin to invest in it. If a coin is fundamental good i will do. But thats what i am trying to  figure out now you see. Wink

So thank's for the links. Some of them I have already read a bit. My head is full of pirates of the caribians...
Is there a more technical paper too?




You know that 4) Darkpaper is 35 pages long technical paper? I'm sure it will satisfy all your information needs about teleport
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August 19, 2014, 01:40:14 AM
Last edit: August 19, 2014, 04:21:56 AM by jd1959
 #3793

I fundamentally agree with requirements to teleport coins.

I think basic teleports should be easy (no requirement to hold btcd), but include slightly higher fee. To decrease fees user would have to hold some btcd and that would give incentive for hodling.
Like James put it: Give discounts for holders that use teleports.

1 btcd reduces fees to normal 0.1% and 100 unlocks 254 N + 0.01% fee?
It would be simplest to have no fees at all the first year (or X months)
simplest means faster to implement and get into production
simplest means less chance for bugs
So this is shift in philosophy, but we can always start adding teleport fees to other coins
I just want as big of user base as quick as possible as the anon set is directly proportional to the user base

Once we have giant user base, then it becomes the place all new privacy seekers have to use. Then nobody minds tiny fees

James
I think your cooking now......so many "anon coins" everybody is getting tired of new this one is better argument.

Anon network free for trial period that's gotta get a lot of attention ....... even from the BTC crowd that dismiss all other coins

Build it and they will come

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August 19, 2014, 02:27:26 AM
Last edit: August 19, 2014, 04:21:26 AM by jd1959
 #3794

On another note I think announcing on the bitcoin thread was a little premature

I understand the excitement of creating something new and wonderful

the BTC crowd don't want to be told about anything......They need to find it for themselves

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August 19, 2014, 05:31:48 AM
 #3795

I have been thinking about why this coin and thread are fairly fud-free so far, and realized that one must expend a meaningful amount of brainpower to understand teleporting and the associated ideas. And it's like Mark Twain said, thinking is hard work, that's why so few people do it.
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August 19, 2014, 05:46:26 AM
 #3796

I was discussing the teleporting with someone and their point was that for a large corporation, doing payments through an off-blockchain intermediary like coinbase or bitpay essentially performs the same obfuscating function as teleporting. To what extent is this argument flawed?
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August 19, 2014, 05:56:11 AM
 #3797

I have noticed that BTCD wallet is consuming a lot of bandwidth, I'm using more that a gig a day way more than any other wallet I'm running or have run.......is this normal?

Jon

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August 19, 2014, 06:07:27 AM
 #3798

I was discussing the teleporting with someone and their point was that for a large corporation, doing payments through an off-blockchain intermediary like coinbase or bitpay essentially performs the same obfuscating function as teleporting. To what extent is this argument flawed?

Don't those companies just do btc -> fiat though?

what if you want btcd->btcd? (or crypto->crypto in general)
threecats
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August 19, 2014, 06:19:48 AM
 #3799

I was discussing the teleporting with someone and their point was that for a large corporation, doing payments through an off-blockchain intermediary like coinbase or bitpay essentially performs the same obfuscating function as teleporting. To what extent is this argument flawed?

Don't those companies just do btc -> fiat though?

what if you want btcd->btcd? (or crypto->crypto in general)

well, i would guess the question applies to any off blockchain intermediary. wiley coyote biodev ltd wants to use 50000 btc on a nanotech push lasting 3 months and doesn't want elmer fudd labs to see the r&d expenditures, plankton wafer purchases, etc.  If it all moves through a couple coinbase wallets, how do outside eyes see it?
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August 19, 2014, 06:33:18 AM
 #3800

What's the current rough estimate to mine 1 BTCD / day? Is it still around ~5000? I guess it fluctuates depending on the net.
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