◈◈Bitcredit ◈◈ Migrating to UniQredit◈◈

[bitcreditscc]

We will be taking down the exchange as well for the following few days -- max two weeks (you'll probably see it up at times, but you won't be able to register)

1) Adding stricter KYC/AML

2) Overhauling landing page to make it the BCR home page

3) Addition of Multiple pairs of currencies as well as fiat options

4) Addition of Visa Card facilities

5) Moving of severs to less restrictive territories.

6) Inclusion of BBD as a tradeable stock (we'll introduce a liquid version of it once enough has been distributed)

Please note, i am one developer, i occasionally get assistance but don't count on super high speed deployment.

note: if you have a worthwhile crypto, that actually has a developer and wish to see it added, PM me. Because later it will not be so easy for us to add currencies unless they are really awesome.

[bitcreditscc]

Quick tip:

people are noticing the progress on this project and now know you'll need a significant chunk to have a bank node. the price is rising and if you fail to buy now, you'll have a hard time getting a node of your own.

[snaidervp]

does any1 have a sample bcr.conf and a run.bat for nan's solo miner in hand for solo mining?

[dragos_bdi]

does any1 have a sample bcr.conf and a run.bat for nan's solo miner in hand for solo mining?

bitcredit.conf

Code:

server=1
genproclimit=0
rpcuser=user
rpcpassword=pass
rpcallowip=192.168.0.0/255.255.255.0
rpcport=8776

start.bat

Code:

clpts_x86-64.exe -o localhost:8776 -u user:pass -g 2 -a 0

[snaidervp]

does any1 have a sample bcr.conf and a run.bat for nan's solo miner in hand for solo mining?

bitcredit.conf

Code:

server=1
genproclimit=0
rpcuser=user
rpcpassword=pass
rpcallowip=192.168.0.0/255.255.255.0
rpcport=8776

start.bat

Code:

clpts_x86-64.exe -o localhost:8776 -u user:pass -g 2 -a 0

ty everything works just fine

[bitcreditscc]

If one more person decides to buy up enough to host a bank node, we'll see some interesting things

[kondiomir]

Need some nodes PLS ?

[dragos_bdi]

Need some nodes PLS ?

http://imgur.com/BGYUQaB

[dragos_bdi]

I've published the first version of a JSON-RPC Bitcredit solo miner for AMD GPUs: https://www.dropbox.com/sh/ycqnadnjp8rhsp0/AADKNyWsn0oShLPtNGCBliWba?dl=0
The gpuhash_* files need to be copied to the binaries subfolder like in clpts v2.0. The usage is -o <ip>:<port> -u <rpcuser>.<payout address>:<rpcpassword>, where .<payout address> is optional and if it is not specified then the miner tries to get an address from the wallet.  The other command line options are the same as those of clpts v2.0.
Feedback is appreciated.

EDIT: Link updated to first release version.

-- NaN

Could you make a version that combine the pool and the solo version ?
The ypool is down, p2pool and bcrp2pool 3-4 times a day goes down, so would be nice if any pool is not available, goes to solo mine.

Thx

[wasref]

i just cant see a good rate of return buying 250k at 1000sats is 2.5btc = $686 weekly payment 0.01btc-0.02btc = $5.4 is it reall worth it. i would only ask that if it was reduced it would be much interesting and attractive. not worth it for me

[mitache365]

why ypool dont have a block since 15.02 ?

[bitcreditscc]

i just cant see a good rate of return buying 250k at 1000sats is 2.5btc = $686 weekly payment 0.01btc-0.02btc = $5.4 is it reall worth it. i would only ask that if it was reduced it would be much interesting and attractive. not worth it for me

In this ecosystem, there is no easy money. If you want to earn you have to actually do something, be it investment, offering services or even just mining. But keep in mind that as interest increases so does mining difficulty, and so does price. However , as the trust protocol matures Banks will be more willing to loan out funds. If we allow any small interest to have bank then we risk scammers running fly by night operations resulting in problems for the average user. The investment has to be large enough to discourage such people and also reflect the commitment of the owner to providing the service.

Allow me to correct you a little, then think over what i say.

It actually costs 1.8 BTC right now to purchase enough for a bank node. So let's do some math, since hashrate doubled over the last few hours.

You are now only mining ~ 2500 BCR a week,  at current rates that is 0.017 BTC. And that is mining with some serious hardware to compete in this environment.

Randomuser1 instead spends 3.6 BTC and sets up two nodes with an additional 25K BCR for operations. He is 1/20 existing nodes and earns ~ 2000 BCR per week for his nodes. He will earn 0.04 BTC per week just for having the nodes. This means 9 weeks his nodes are already in the black.

Because he is a bank he can now perform operations such as escrow, Insurance and contracts.

Say in the first week he takes a 80k BCR contract for development of the Android mobile wallet and negotiates investment insurance for 40K BCR @ 5% rate. He then manages to do the job with 70K BCR. He pays his insurance agent their 5% and keeps the rest. So of the 10K profit, he pays 2K insurance, leaving him with 8k BCR, or 0.16 BTC.

His total for that week is 0.2 BTC. Depending on how much liquid BCR he has , he may have taken on smaller jobs like insuring your payment for some odd jobs in the crypto-world. which can potentially increase his total earnings. The only limit to how any contracts he can do is his monetary constraints and demand for his services.

Say the next week a worthwhile individual  decides to start a new asset/coin but they lack the funds to pull it off, they approach hi as a bank to lend them the funds and help set it up, in exchange say for a 3 % premine, or a hard-coded 3% of every block. If it is a good investment that is managed well, the bank can make untold profits by indulging in such activity. This also benefits our ecosystem either through the insurance one may take out on their investment or by the resulting stimulus of the removal/addition of large chunks of coin at times, as well as attracting more users, investors and entrepreneurs.

Note that once a person starts turning a profit, they are likely to buy more BCR and expand their operations. This creates a lot of buy pressure, resulting in even higher prices.

At a later date, our random user may find that maintaining two different nodes is too much work, especially when they start processing loan requests. So he may decide to sell his node at a 20% profit. That is 300k BCR which may be worth 9 BTC or even more depending on market conditions.


The PoS fad has ruined the average user mentality in that they were getting used to easy money and forgot that real money, real profit, real crypto comes from work, development and business mentality. Now that people are wising up you see the majority of those coins are struggling and floundering. This is because there is no real ecosystem, it's just a flood of emissions without economic activity to support it.

It's not a hand outs system essentially a "what you kill is what you eat" system, where you only get something if you actually did something.
Miners earn small tx fees , nodes earn processing fees and banking tx fees. At times of surplus reserves they can be subsidized to encourage lending, in return users could use the funds to earn more.

So if you have a talent , say graphic design, you could potentially start as a normal user, but if you sell your warez for BCR you can potentially make enough to have a node of your own. Likely you can actually make the required 250K long before someone who tries to do it through mining only.

Don't get me wrong, mining is important, it gets the chain moving and also introduces new money , but what actually gets any economy moving is trade. So trade your skills/warez up the ladder.

[bitcreditscc]

why ypool dont have a block since 15.02 ?

The owner of the pool is unavailable but the p2pools are working.

[bitcreditscc]

Since it seems many are struggling to put two and two together , once a week i will post an example of how you can leverage your bank to make profits.

[SockPuppetAccount]

Saw the rise in price and ran here to see what is going on.  Good things happening!  Don't have time to dig too deep into your posts at the moment but I will return.

Can you explain what the function of the BBD will be?

And I like the idea of making the bank a commitment you are locked into for a minimum of 6 months, but have you considered what could happen as that 6 months ends?  Basically I'm referring to banks potentially running something akin to the classic "exit scam" that occurs on darknet markets.  Something to think about.

[bitcreditscc]

Saw the rise in price and ran here to see what is going on.  Good things happening!  Don't have time to dig too deep into your posts at the moment but I will return.

Can you explain what the function of the BBD will be?

And I like the idea of making the bank a commitment you are locked into for a minimum of 6 months, but have you considered what could happen as that 6 months ends?  Basically I'm referring to banks potentially running something akin to the classic "exit scam" that occurs on darknet markets.  Something to think about.

someone has been trying hard to damper the rise, they'll regret their losses. Overall good things indeed.

I'll do a more in depth BBD write up late today , should be informative and interesting.

The most discussion is done on ypool chat, and so far the exit has been only hinted at. It is a big issue but i believe that the effect will not be so bad. My understanding so far is that those who have taken interest in having a bank node are people who can already see the possibilities. Think on the trust protocol, as a Bank's trust rises and it's profitable models increase, it becomes worth more and more. A banker is highly unlikely to ruin such a high trust rating for a quick 6-10 BTC, knowing full well that they can make such an amount by holding on to their node for two months, and can still do more business.

[wasref]

i just cant see a good rate of return buying 250k at 1000sats is 2.5btc = $686 weekly payment 0.01btc-0.02btc = $5.4 is it reall worth it. i would only ask that if it was reduced it would be much interesting and attractive. not worth it for me

In this ecosystem, there is no easy money. If you want to earn you have to actually do something, be it investment, offering services or even just mining. But keep in mind that as interest increases so does mining difficulty, and so does price. However , as the trust protocol matures Banks will be more willing to loan out funds. If we allow any small interest to have bank then we risk scammers running fly by night operations resulting in problems for the average user. The investment has to be large enough to discourage such people and also reflect the commitment of the owner to providing the service.

Allow me to correct you a little, then think over what i say.

It actually costs 1.8 BTC right now to purchase enough for a bank node. So let's do some math, since hashrate doubled over the last few hours.

You are now only mining ~ 2500 BCR a week,  at current rates that is 0.017 BTC. And that is mining with some serious hardware to compete in this environment.

Randomuser1 instead spends 3.6 BTC and sets up two nodes with an additional 25K BCR for operations. He is 1/20 existing nodes and earns ~ 2000 BCR per week for his nodes. He will earn 0.04 BTC per week just for having the nodes. This means 9 weeks his nodes are already in the black.

Because he is a bank he can now perform operations such as escrow, Insurance and contracts.

Say in the first week he takes a 80k BCR contract for development of the Android mobile wallet and negotiates investment insurance for 40K BCR @ 5% rate. He then manages to do the job with 70K BCR. He pays his insurance agent their 5% and keeps the rest. So of the 10K profit, he pays 2K insurance, leaving him with 8k BCR, or 0.16 BTC.

His total for that week is 0.2 BTC. Depending on how much liquid BCR he has , he may have taken on smaller jobs like insuring your payment for some odd jobs in the crypto-world. which can potentially increase his total earnings. The only limit to how any contracts he can do is his monetary constraints and demand for his services.

Say the next week a worthwhile individual  decides to start a new asset/coin but they lack the funds to pull it off, they approach hi as a bank to lend them the funds and help set it up, in exchange say for a 3 % premine, or a hard-coded 3% of every block. If it is a good investment that is managed well, the bank can make untold profits by indulging in such activity. This also benefits our ecosystem either through the insurance one may take out on their investment or by the resulting stimulus of the removal/addition of large chunks of coin at times, as well as attracting more users, investors and entrepreneurs.

Note that once a person starts turning a profit, they are likely to buy more BCR and expand their operations. This creates a lot of buy pressure, resulting in even higher prices.

At a later date, our random user may find that maintaining two different nodes is too much work, especially when they start processing loan requests. So he may decide to sell his node at a 20% profit. That is 300k BCR which may be worth 9 BTC or even more depending on market conditions.


The PoS fad has ruined the average user mentality in that they were getting used to easy money and forgot that real money, real profit, real crypto comes from work, development and business mentality. Now that people are wising up you see the majority of those coins are struggling and floundering. This is because there is no real ecosystem, it's just a flood of emissions without economic activity to support it.

It's not a hand outs system essentially a "what you kill is what you eat" system, where you only get something if you actually did something.
Miners earn small tx fees , nodes earn processing fees and banking tx fees. At times of surplus reserves they can be subsidized to encourage lending, in return users could use the funds to earn more.

So if you have a talent , say graphic design, you could potentially start as a normal user, but if you sell your warez for BCR you can potentially make enough to have a node of your own. Likely you can actually make the required 250K long before someone who tries to do it through mining only.

Don't get me wrong, mining is important, it gets the chain moving and also introduces new money , but what actually gets any economy moving is trade. So trade your skills/warez up the ladder.

the math was right i was using 1000 sats as a example. i understand your calculations too that is perfectly right but my maths were based on what is guaranteed. to make good profit it needs to rise but as the currency isn't a short term one where only early investors make profit but any investor when they buy should make a decent profit. there will come to a point where the price will not rise as the return would not be worth it also by having a large buy in of 250k you have the risk of the whole thing being manipulated by big players. of course there is a risk of scams but that happens in the real world. people will find new ways to scam. having small players keeps it balanced even though risk of scam. i will be haven't fully read the entire plan. This is something i have been working on, the same idea for past 4 months but you have actually implemented which looks amazing, i was planning to call it loan coin.

i'l look into it a bit more detail and give my feedback because i think if this is made correctly can be fruitful.

your maths are based on the price rising. it cannot rise all the time

[bitcreditscc]

i just cant see a good rate of return buying 250k at 1000sats is 2.5btc = $686 weekly payment 0.01btc-0.02btc = $5.4 is it reall worth it. i would only ask that if it was reduced it would be much interesting and attractive. not worth it for me

In this ecosystem, there is no easy money. If you want to earn you have to actually do something, be it investment, offering services or even just mining. But keep in mind that as interest increases so does mining difficulty, and so does price. However , as the trust protocol matures Banks will be more willing to loan out funds. If we allow any small interest to have bank then we risk scammers running fly by night operations resulting in problems for the average user. The investment has to be large enough to discourage such people and also reflect the commitment of the owner to providing the service.

Allow me to correct you a little, then think over what i say.

It actually costs 1.8 BTC right now to purchase enough for a bank node. So let's do some math, since hashrate doubled over the last few hours.

You are now only mining ~ 2500 BCR a week,  at current rates that is 0.017 BTC. And that is mining with some serious hardware to compete in this environment.

Randomuser1 instead spends 3.6 BTC and sets up two nodes with an additional 25K BCR for operations. He is 1/20 existing nodes and earns ~ 2000 BCR per week for his nodes. He will earn 0.04 BTC per week just for having the nodes. This means 9 weeks his nodes are already in the black.

Because he is a bank he can now perform operations such as escrow, Insurance and contracts.

Say in the first week he takes a 80k BCR contract for development of the Android mobile wallet and negotiates investment insurance for 40K BCR @ 5% rate. He then manages to do the job with 70K BCR. He pays his insurance agent their 5% and keeps the rest. So of the 10K profit, he pays 2K insurance, leaving him with 8k BCR, or 0.16 BTC.

His total for that week is 0.2 BTC. Depending on how much liquid BCR he has , he may have taken on smaller jobs like insuring your payment for some odd jobs in the crypto-world. which can potentially increase his total earnings. The only limit to how any contracts he can do is his monetary constraints and demand for his services.

Say the next week a worthwhile individual  decides to start a new asset/coin but they lack the funds to pull it off, they approach hi as a bank to lend them the funds and help set it up, in exchange say for a 3 % premine, or a hard-coded 3% of every block. If it is a good investment that is managed well, the bank can make untold profits by indulging in such activity. This also benefits our ecosystem either through the insurance one may take out on their investment or by the resulting stimulus of the removal/addition of large chunks of coin at times, as well as attracting more users, investors and entrepreneurs.

Note that once a person starts turning a profit, they are likely to buy more BCR and expand their operations. This creates a lot of buy pressure, resulting in even higher prices.

At a later date, our random user may find that maintaining two different nodes is too much work, especially when they start processing loan requests. So he may decide to sell his node at a 20% profit. That is 300k BCR which may be worth 9 BTC or even more depending on market conditions.


The PoS fad has ruined the average user mentality in that they were getting used to easy money and forgot that real money, real profit, real crypto comes from work, development and business mentality. Now that people are wising up you see the majority of those coins are struggling and floundering. This is because there is no real ecosystem, it's just a flood of emissions without economic activity to support it.

It's not a hand outs system essentially a "what you kill is what you eat" system, where you only get something if you actually did something.
Miners earn small tx fees , nodes earn processing fees and banking tx fees. At times of surplus reserves they can be subsidized to encourage lending, in return users could use the funds to earn more.

So if you have a talent , say graphic design, you could potentially start as a normal user, but if you sell your warez for BCR you can potentially make enough to have a node of your own. Likely you can actually make the required 250K long before someone who tries to do it through mining only.

Don't get me wrong, mining is important, it gets the chain moving and also introduces new money , but what actually gets any economy moving is trade. So trade your skills/warez up the ladder.

the math was right i was using 1000 sats as a example. i understand your calculations too that is perfectly right but my maths were based on what is guaranteed. to make good profit it needs to rise but as the currency isn't a short term one where only early investors make profit but any investor when they buy should make a decent profit. there will come to a point where the price will not rise as the return would not be worth it also by having a large buy in of 250k you have the risk of the whole thing being manipulated by big players. of course there is a risk of scams but that happens in the real world. people will find new ways to scam. having small players keeps it balanced even though risk of scam. i will be haven't fully read the entire plan. This is something i have been working on, the same idea for past 4 months but you have actually implemented which looks amazing, i was planning to call it loan coin.

i'l look into it a bit more detail and give my feedback because i think if this is made correctly can be fruitful.

your maths are based on the price rising. it cannot rise all the time

Your guaranteed 1000 satoshi is a price that was realized by buys of only 300K BCR. What happens when another 250K BCR is removed from the market to set up a node? And another? It is a price per unit that has no bearing on profitability of doing business.

Can you describe these early investors? To me, they are the people who have been mining, coding , assisting, donating, buying and encouraging this project. To be an early investor all you have to do is buy/mine/earn BCR right now. There is noone who is stopping anyone from getting some BCR. Should APPL and GOOG make allowances for us who only realize now how great a stock it is? Risk/benefit, the risk was trusting that i would work and push and never give up. the benefit was cheap sub 1000 satoshi buys of BCR that can now give you a bank node, 50K operations fund and 100K to sell at a profit.

Small players are usually the scammers because they can't see past the first pay day. Someone willing to invest a ton now and sit on it for 6 months is less likely to scam than someone who can just buy in at $20. Because you actually expend serious resources to get a node, you are going to want a return on your investment-- the only way to do that is economic activity. The coins are limited in supply and not easy to get, they are the purest definition of money, money created by expending resources gains the value of those expended resources.

There is no way that we can create a system with a low entry point that will let just any mind set into a position they can possibly abuse. If you want to abuse the system you'll have to pay an arm and a leg. consider that it costs 1.8 BTC to have one node, in order to actually effect anything, you need control of maybe 60% of the nodes. say there are 20 , you will need to control 12 which is 21.6 BTC right now, potentially even more in a few days.

Which scammer is going to invest 21 BTC in nodes, act stupid,  only to have those nodes flagged and immediately disqualified?

[SockPuppetAccount]

Setting up a wiki would probably be a good idea.  There is a lot going on with this coin and it can be hard to digest with all the info spread across this thread.

Sent another 0.1 BTC to the dev fund! 

[bitcreditscc]

Setting up a wiki would probably be a good idea.  There is a lot going on with this coin and it can be hard to digest with all the info spread across this thread.

Sent another 0.1 BTC to the dev fund! 

Great! Thanks, i am saving up as much as i can because I am hoping to add an android wallet to the list of upcoming releases.

I am going to try and set up the wikl today, i have been under so much pressure that a lot is slipping through the cracks. today i woke up an hour late for work because i was up all night trying to come up with a HTML5 wallet. (long range goal).