◈◈Bitcredit ◈◈ Migrating to UniQredit◈◈

[proletariat]

Bootstrap @252117

Bitcredit252117.7z - 186MB.................

Back in sync, thank you.

[MbccompanyX]

1. i don't think that posting the whole blockchain on the ufficial website could be considered mirror
2. how much is the size at the moment? (i'm on the phone so i can't check well some websites)

1. it's not the official website
2. I've updated the posts, it's 186MB archived

Nothing stops you to mirror elsewhere.

1. i didn’t noticed before that the website wasn't ufficial
2. i'm surprised of the size because i was worried that the server that hosts the website couldn't handle it
3. i know that nothing stops anyway from making mirrors of the files

[bitcreditscc]

For the curious ones , i have pushed some code that includes the new embedded sqlite Db which will be used in our relational schema. Please note that the included tables it creates and populates are simply for testing now and we will expand on that starting now.

The database is important because it keeps that data of the whole chain in a relational model and maintains a highlight of each ChainIDs' activity. This is what we use to calculate your credit and trust ratings which in turn affect the recomended actions service providers will take when you are using their services.

P2PLending Example(since it will be the first)

If you have average ratings, not a founder, not blacklisted and have no supporting votes from trusted BNs. The recommendation will be to loan you the very minimum.

On the other hand if you hit all the right markers and have high ratings, you will get a better recommendation. One thing i am still mulling is ChainID registration. The idea being that if say we had better price and someone requested a loan that is above the "safe ceiling" ie above recommendation, and the service provider decides to take a gamble, we could have a system where a user can "register" a ChainID on the network and attach an encrypted real world ID to it's metadata , whose key can be attached to encrypted messages sent when requesting a loan above a certain threshold. This would provide a level of comfort to the service provider and begin to fit in with the legal frameworks of some nations. More on this later, feel free to comment.

Similarly BNs will be ranked based on the above, advertised balance, time online and other factors which will affect if it gets into the recommended services list.

There is still a lkot of work to be done, but things are starting to take shape. Many may ask what happened to colored coins.... well, we need about 10 BTC to make that a reality.... so yeah....

[MbccompanyX]

There is still a lkot of work to be done, but things are starting to take shape. Many may ask what happened to colored coins.... well, we need about 10 BTC to make that a reality.... so yeah....

so you're asking 32225 us dollars (based on the usd/btc data of the time of the post) to make the colored coin? are we sure that is the exact amount or is just an approximation of how much is needed?

[bitcreditscc]

There is still a lkot of work to be done, but things are starting to take shape. Many may ask what happened to colored coins.... well, we need about 10 BTC to make that a reality.... so yeah....

so you're asking 32225 us dollars (based on the usd/btc data of the time of the post) to make the colored coin? are we sure that is the exact amount or is just an approximation of how much is needed?

LOL it's $3210 and yes it's an approximation. I have looked into colored coins and seen different implementations and was leaning towards one, then realised how specialised and customiseable we'll need it to be, it's beyond my coding capability at the moment and taking time to study and try it myself, will result in implementation likely in late 2016, which is not ideal.

Even at 10 BTC the dev(s) would have done us a huge favour. Average hourly wage here is 15 quid.... i estimate it would take a 3-4 weeks of 8 hour days to get everything we want in , tried and tested;

If the community were larger i'd ask for

1) Implement as much as we can off the to-do list
2) fix everything that is half implemented /not working
3) go for broke and add support FIX messages and see if we can get the network to communicate with SWIFT network.

While in it'self nothing until we get "in", it would help our case if we could demonstrate secure , working cross-platform trades.

[MbccompanyX]

There is still a lkot of work to be done, but things are starting to take shape. Many may ask what happened to colored coins.... well, we need about 10 BTC to make that a reality.... so yeah....

so you're asking 32225 us dollars (based on the usd/btc data of the time of the post) to make the colored coin? are we sure that is the exact amount or is just an approximation of how much is needed?

LOL it's $3210 and yes it's an approximation. I have looked into colored coins and seen different implementations and was leaning towards one, then realised how specialised and customiseable we'll need it to be, it's beyond my coding capability at the moment and taking time to study and try it myself, will result in implementation likely in late 2016, which is not ideal.

Even at 10 BTC the dev(s) would have done us a huge favour. Average hourly wage here is 15 quid.... i estimate it would take a 3-4 weeks of 8 hour days to get everything we want in , tried and tested;

If the community were larger i'd ask for

1) Implement as much as we can off the to-do list
2) fix everything that is half implemented /not working
3) go for broke and add support FIX messages and see if we can get the network to communicate with SWIFT network.

While in it'self nothing until we get "in", it would help our case if we could demonstrate secure , working cross-platform trades.

1. Sorry but when i at first did the calc i was at the university and during the math lession (i was infact watching even flying numbers)
2. I suggest we can make a new thread about the coin or put the to-do list on another thread that is still connected to this one

[hack_]

BNs will be able to push adverts to the network.... which will pop up occasionally in the QT wallets across all platforms. We intend to monetize this , with a "queue" that BNs pay to join. Also thinking about Admob.

Any objections?

[jasemoney]

BNs will be able to push adverts to the network.... which will pop up occasionally in the QT wallets across all platforms. We intend to monetize this , with a "queue" that BNs pay to join. Also thinking about Admob.

Any objections?

forever or just to raise money. I see enough ads in life, I dont want my blockchain based personal bank utilities to become riddled with ads, and im sure it is a security risk to add ads, and im sure the tracking involved with adding advertisments would go against most peoples wishes.

actually it could be a good idea.

but at this time it'd only lead to trolling. see craigscoin or any social platform attempt by coins recently.


Random:
Also has anyone looked at XEM (NEMcoin) with its proof of importance? its similar to the chainid relational address Db. could be worth looking at how they derive their "proof of importance"

Also looking to get hooked into the swift system? would that mean getting swift codes for BCR??

[bitcreditscc]

BNs will be able to push adverts to the network.... which will pop up occasionally in the QT wallets across all platforms. We intend to monetize this , with a "queue" that BNs pay to join. Also thinking about Admob.

Any objections?

forever or just to raise money. I see enough ads in life, I dont want my blockchain based personal bank utilities to become riddled with ads, and im sure it is a security risk to add ads, and im sure the tracking involved with adding advertisments would go against most peoples wishes.

That should have to be discussed, The key idea here is fund raising so we can make real progress in good time, and since most people can't really afford to help fund the project, we need external sources of funds.

Tracking is only there if we include admob, otherwise internal ads will pose no issues save for annoyance if you don't like them.

Random:
Also has anyone looked at XEM (NEMcoin) with its proof of importance? its similar to the chainid relational address Db. could be worth looking at how they derive their "proof of importance"

Also looking to get hooked into the swift system? would that mean getting swift codes for BCR??

I'll take a look. If possible yes we want to get swift codes and all it entails. This means stuff like corres banks and what not, but it also puts us one step closer to mainstream.

[jasemoney]

its going to take a while to raise funds either through the bid system (currently just over 1 month active, has raised 0.6BTC) with average daily net of 0.02BTC.
its also going to take a while to raise funds by projecting advertisements to the 10-15 daily active nodes (based on ip address) or the 70 Banknodes (running daemons possibly unable to view ads)

If you detail how to use the vote feature im guessing everyone would be happy to vote to use the bid money for development fund towards the 10btc you'd like to raise.

If we get a stable release and push some marketing just getting another 50 users could drive daily bidding to .1btc where it would still take 3 months to afford development without outside cash influx.

if we did market and gather new users and the price rises perhaps we can vote again to use some of the reserve. if the bcr price was 10x it would make a dent in the reserves to fund a 10btc project but not wipe them out. but as it stands if there was a buywall at the current price 120 sat, the entire 6 mil reserves wouldnt even cover the 10btc cost as it would generate ~7.2btc on a huge dump.

Everyone is behind you bitcreditscc with varying levels of involvement and personally im very happy with the work, and i know everyone else is too. Its a wonder how your able to do so much with our nitpicking. but at this point we need to be realistic about the community size and what it can afford.

The question then: Is BCR able to get to a point where this is working well enough to make a push for a larger community...
If so we can train and help new members and focus troubleshooting while building up the dev fund to a point it is usable for your coloredcoins and other ideas then make the next big push forward.

[bitcreditscc]

its going to take a while to raise funds either through the bid system (currently just over 1 month active, has raised 0.6BTC) with average daily net of 0.02BTC.
its also going to take a while to raise funds by projecting advertisements to the 10-15 daily active nodes (based on ip address) or the 70 Banknodes (running daemons possibly unable to view ads)

If you detail how to use the vote feature im guessing everyone would be happy to vote to use the bid money for development fund towards the 10btc you'd like to raise.

If we get a stable release and push some marketing just getting another 50 users could drive daily bidding to .1btc where it would still take 3 months to afford development without outside cash influx.

if we did market and gather new users and the price rises perhaps we can vote again to use some of the reserve. if the bcr price was 10x it would make a dent in the reserves to fund a 10btc project but not wipe them out. but as it stands if there was a buywall at the current price 120 sat, the entire 6 mil reserves wouldnt even cover the 10btc cost as it would generate ~7.2btc on a huge dump.

Everyone is behind you bitcreditscc with varying levels of involvement and personally im very happy with the work, and i know everyone else is too. Its a wonder how your able to do so much with our nitpicking. but at this point we need to be realistic about the community size and what it can afford.

The question then: Is BCR able to get to a point where this is working well enough to make a push for a larger community...
If so we can train and help new members and focus troubleshooting while building up the dev fund to a point it is usable for your coloredcoins and other ideas then make the next big push forward.

Yeah, funding will be an issue, but that's why i want us to pursue as any avenues as possible. The end result of me having  funds is a fully functional client with a lot more services. Can you imagine real full p2p banking by April...Insurance by May and a decentralized stock market by July?  I think it's time we expanded  I tried getting people to contact their favourite exchanges so we get listed on more , but noone seems interested in helping.

I am currently working on p2p lending , so if we can do that by month end (rc) we can try for a stable release. have you built from the dev branch?

[jasemoney]

19.1, 18-banking or 18-b2

[hack_]

19.1, 18-banking or 18-b2

last i checked we were working on 19.1

[proletariat]

.......................

Out of curiosity, I would like to know when this "friendly mining" will end, correct me if I'm wrong but 5qoFUCqPUE4pyjus6U6jD6ba4oHR6NZ7c7 and 6133GZGV2XRnS53DkLSWrK661TsQMqnewL are constantly harvesting 1,8 fees + 3K superblock rewards and it ends up on exchange sell, it won't help in any way to current price.

..................

Curious about that too.

[dragos_bdi]

.......................

Out of curiosity, I would like to know when this "friendly mining" will end, correct me if I'm wrong but 5qoFUCqPUE4pyjus6U6jD6ba4oHR6NZ7c7 and 6133GZGV2XRnS53DkLSWrK661TsQMqnewL are constantly harvesting 1,8 fees + 3K superblock rewards and it ends up on exchange sell, it won't help in any way to current price.

..................

Curious about that too.

The address are BANK_SCRIPT and RESERVE_SCRIPT and are here from almost all the life of this coin.
  

[hack_]

.......................

Out of curiosity, I would like to know when this "friendly mining" will end, correct me if I'm wrong but 5qoFUCqPUE4pyjus6U6jD6ba4oHR6NZ7c7 and 6133GZGV2XRnS53DkLSWrK661TsQMqnewL are constantly harvesting 1,8 fees + 3K superblock rewards and it ends up on exchange sell, it won't help in any way to current price.

..................

Curious about that too.

I'd guess that's where the dev tips come from?

[bitcreditscc]

.......................

Out of curiosity, I would like to know when this "friendly mining" will end, correct me if I'm wrong but 5qoFUCqPUE4pyjus6U6jD6ba4oHR6NZ7c7 and 6133GZGV2XRnS53DkLSWrK661TsQMqnewL are constantly harvesting 1,8 fees + 3K superblock rewards and it ends up on exchange sell, it won't help in any way to current price.

..................

Curious about that too.

I'd guess that's where the dev tips come from?

no need to guess. I use it as a way to help pay tips. It's original purpose is shelved until we can pay for more developers.

[bitcreditscc]

Something i'm thinking as a solution to the funding issue

Bitcredit will open an investment option as follows:

1) a % of the pre-mine will be divided proportionally among investors based on % of the total that they have donated.

2) We will add a stipulation that a % of all emissions (blocks) are to be distributed to each of the investors proportionally.

3) Organizations spun off BNs on the network will allocate a % of their gross profit to the investors. (this is the real good part)

The above may change slightly based on community response but that is the gist of it.

The funding target for this drive will be set by what the community wishes to fund and will determine the % that will be allocated to investors.

Thoughts?

[bitcreditscc]

While you mull what hack_ and i said, i need to hear comments of a different approach to the wallet.

Since the QT is really gonna grow, it runs the risk of becoming sluggish. Just in case i am thinking of starting a run for a html browser wallet. ie you start the wallet as a daemon-server then access evrything via your browser.

Thoughts?

[ancientcoins]

Something i'm thinking as a solution to the funding issue

Bitcredit will open an investment option as follows:

1) a % of the pre-mine will be divided proportionally among investors based on % of the total that they have donated.

2) We will add a stipulation that a % of all emissions (blocks) are to be distributed to each of the investors proportionally.

3) Organizations spun off BNs on the network will allocate a % of their gross profit to the investors. (this is the real good part)

The above may change slightly based on community response but that is the gist of it.

The funding target for this drive will be set by what the community wishes to fund and will determine the % that will be allocated to investors.

Thoughts?

certain amount of blocks going to developers is not liked so i dont think that some early birds should get reward forever. they may not even be invested in it later and they would be still earning not attractive for newcomers also would you need the organizations permission to allocate 0.1% to investors. the less fee the better just my 2 cents if i had the money i would donate