[KOBO] Kobocoin - Mobile Money for Africa

[The_Tribesman]

COİNEXCHANGE  THIEF !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

He's been broadcasting this message everywhere
https://bitcointalk.org/index.php?action=profile;u=1580535;sa=showPosts

I'm not able to delete it as my account has been hacked!

[1714941576]

1714941576

[MammothK]

...About the 10% PoS and 350,000,000 Total coins, not that sure about it.
We need the 10% stake to increase the interest in the coin while it's being adopted by the real users, but you don't want 10% inflation every year.
I mean, with a total 350M coins it will take more than 25 years to achieve it (maths down below) while 100M coins will take almost 15year.
I think in 15 years this coin is gonna be used by the people it's focused on, so no need to have another 10years of 10% pos.
25.000.000
27.500.000
...
297.954.413
327.749.855

I agree with your numbers as a theoretical maximum using 10% but the real life empirically based rate of inflation is more like 1% per year due to the fact that not many people are stake mining, hence the 10% is never realized, in fact based on most of blocks produced during January, the figure is only 1.134%  [24,910,596 - 24,888,934.  Over the last 28 days exactly]
Here are my numbers based on the actual kobocoin explorer data.
Using compound interest of 1.134% per annum:-
January 2018: 24,910,596
January 2019: 25,193,108
...
January 2032: 29,170,988
January 2033: 29,501,818

Absolutely! Thanks for the analysis. The kobocoin blockchain will still be emitting kobo long after I've left this world (unless newer tech has replaced blockchain). The parameters were chosen for longevity of the currency. Of course I want people to make some returns but the currency has to operate properly well into the future (or at least until something better comes along).

Felix,
For fun, I completed the calculation upto 350 million coins at the actual derived 1.134% inflation rate per annum.

[log (350,000,000/24,910,596)] / log (1.01134) = 234.33 years

So the final Kobocoin block is mined in the year 2252 AD, or thereabouts, lol, even your offspring may have left this world by then 

Anyway, more seriously, If I am near a real PC - I want to offer my help for setting up test masternodes inside testnet if this is the path that you choose to go down.
I suggest 4 or 5 mining computers, a few nodes and freshly insta-mined 'tkobocoin' for testing the backbone masternode network before it is released onto mainnet, would not want multiple forks occuring and network fragmentation.
Will read,scan and send you the error logs for further investigation.
Also can test new wallet versions on smart phones and can do some of the maths for you if you need anything checking or calculating.

Some more thoughts on this are;

1) Is it possible to set up a stake mining node and/or masternode on a mobile phone, think that smart phones are easily fast enough and have enough memory to store entire block chain size (~1.5 GB)
2) Your inter wallet encrypted messaging service, can this message to outside of the blockchain to real SMS messages and vice versa? This will provide a bridge between the 2 worlds. Other coins offer this, can you merge the github somehow?
3)  use the masternode hard drive memory for running a decentralised exchange system? (more complicated, longer term aim)

I would say a new thread is needed or even better a seperate website - can kobocoin.com be expanded with a developers forum somewhere, this will help keep the spam out, and focus the work better?

Good luck and regards,

MammothK

[The_Tribesman]

...About the 10% PoS and 350,000,000 Total coins, not that sure about it.
We need the 10% stake to increase the interest in the coin while it's being adopted by the real users, but you don't want 10% inflation every year.
I mean, with a total 350M coins it will take more than 25 years to achieve it (maths down below) while 100M coins will take almost 15year.
I think in 15 years this coin is gonna be used by the people it's focused on, so no need to have another 10years of 10% pos.
25.000.000
27.500.000
...
297.954.413
327.749.855

I agree with your numbers as a theoretical maximum using 10% but the real life empirically based rate of inflation is more like 1% per year due to the fact that not many people are stake mining, hence the 10% is never realized, in fact based on most of blocks produced during January, the figure is only 1.134%  [24,910,596 - 24,888,934.  Over the last 28 days exactly]
Here are my numbers based on the actual kobocoin explorer data.
Using compound interest of 1.134% per annum:-
January 2018: 24,910,596
January 2019: 25,193,108
...
January 2032: 29,170,988
January 2033: 29,501,818

Absolutely! Thanks for the analysis. The kobocoin blockchain will still be emitting kobo long after I've left this world (unless newer tech has replaced blockchain). The parameters were chosen for longevity of the currency. Of course I want people to make some returns but the currency has to operate properly well into the future (or at least until something better comes along).

Felix,
For fun, I completed the calculation upto 350 million coins at the actual derived 1.134% inflation rate per annum.

[log (350,000,000/24,910,596)] / log (1.01134) = 234.33 years

So the final Kobocoin block is mined in the year 2252 AD, or thereabouts, lol, even your offspring may have left this world by then 

Anyway, more seriously, If I am near a real PC - I want to offer my help for setting up test masternodes inside testnet if this is the path that you choose to go down.
I suggest 4 or 5 mining computers, a few nodes and freshly insta-mined 'tkobocoin' for testing the backbone masternode network before it is released onto mainnet, would not want multiple forks occuring and network fragmentation.
Will read,scan and send you the error logs for further investigation.
Also can test new wallet versions on smart phones and can do some of the maths for you if you need anything checking or calculating.

Some more thoughts on this are;

1) Is it possible to set up a stake mining node and/or masternode on a mobile phone, think that smart phones are easily fast enough and have enough memory to store entire block chain size (~1.5 GB)
2) Your inter wallet encrypted messaging service, can this message to outside of the blockchain to real SMS messages and vice versa? This will provide a bridge between the 2 worlds. Other coins offer this, can you merge the github somehow?
3)  use the masternode hard drive memory for running a decentralised exchange system? (more complicated, longer term aim)

I would say a new thread is needed or even better a seperate website - can kobocoin.com be expanded with a developers forum somewhere, this will help keep the spam out, and focus the work better?

Good luck and regards,

MammothK

Wow. Thanks for the kind words and offer of help.

Yes, it's a long long way away till we reach 350,000,000 kobos.

My new dev PC will finally be arriving soon, so I will setup the testnest and get some tkobocoins generated. We'll play with the test network. I will also get some Raspberry Pi's and see if we can start working on some form of masternode update, or something like that.

One thing I've definitely been thinking of with the private messaging is creating a blockchain email service. I've been testing this out with my current PC. It needs a bit of ironing out but once 2 individuals have connected with each other using kobo addresses, they can actually send a form of encrypted email to each other. It just needs a better GUI. I'd like to find a way that people can send blockchain email without the need for any form of currency exchange so that we then have a true blockchain application that anyone anywhere can use for free.

I'll also look into the SMS side of things. There were some guys a few years ago who I was speaking to about integrating this feature but they went bust and stopped the service. I'll get their names. I think it had a "7" in the name.

I have an idea for mobile wallets and staking that I'm going to play with but won't broadcast here until it either passes or fails testing. It might also allow the private messaging to become a feature of the mobile wallets.

One thing you'll find very hard to convince me to do is to offer any kind of exchange service. I'm not a security expert and I don't fancy spending the rest of my life fighting off hackers who like to smash exchanges into smithereens.

There's lots of good ideas there, so thanks again.I will definitely keep you updated and call on you when the time is right.

[jolinahermosa25]

 i will be watching this. looks actually interesting. Good luck on this project!

[The_Tribesman]

UPDATE

What do you guys think of the first drafts of the new logo? Which do you prefer?? Any alterations you'd like to see?

My thoughts:
Logo1 - The 'C' part could be made to look more like a cube/block, with the final 'surface' having some sort of colour.
Logo2 - The horizontal lines could be a bit stubbier. I think it looks more like a currency symbol than logo1 (but my teenage daughter likes the simplicity of logo1).

You could also make a case for the top image representing the blockchain itself, and the bottom image representing the currency that runs on the blockchain. It could be worth highlighting the actual blockchain.

It's certainly going to be a sharper image!


.

I'll soon have a first draft of the new website template for you to critique as well.

TT

[opticoin]

My thoughts:

 Logo 1 is tricky. As a corporate logo, designwise, it is more sophisticated. Initially it confuses you, what is that shadow for?.. and then it hits you,  It's K and C .. and then it turns into an optical illusion because it shifts between K-C  and I-C.  You have to dig deep down and once it settles in  -----> Kobocoin = International/Internet Coin/Currency). I am not sure if that is what the designer was aiming for, but that is how I interpreted the logo.

 Logo 2.. it's simple and direct to point.. Kobocoin is a currency.. and then the image of a flying bird/plane swoops in,  it's fast. It doesn't hurt that it looks like a green and K version of the Bitcoin logo. Another point, when I asked my 6-year old daughter which logo she prefers, she pointed to Logo 2, because it looks like a money. If a 6-year old can get it .....
    
  If we are targetting for broader consumer adoption, I am voting for Logo 2  

[The_Tribesman]

My thoughts:

 Logo 1 is tricky. As a corporate logo, designwise, it is more sophisticated. Initially it confuses you, what is that shadow for?.. and then it hits you,  It's K and C .. and then it turns into an optical illusion because it shifts between K-C  and I-C.  You have to dig deep down and once it settles in  -----> Kobocoin = International/Internet Coin/Currency). I am not sure if that is what the designer was aiming for, but that is how I interpreted the logo.

 Logo 2.. it's simple and direct to point.. Kobocoin is a currency.. and then the image of a flying bird/plane swoops in,  it's fast. It doesn't hurt that it looks like a green and K version of the Bitcoin logo. Another point, when I asked my 6-year old daughter which logo she prefers, she pointed to Logo 2, because it looks like a money. If a 6-year old can get it .....
    
  If we are targetting for broader consumer adoption, I am voting for Logo 2  

Thanks for the feedback. I can see why you went for logo 2.

For logo1, that's what the designer was aiming for. It's a K and a C, but it signifies that kobocoin is on the blockchain. It's more a corporate logo (imo).

For Logo 2, the stripes were added to make it look more like a currency.

They're both being modified. I'll see what they look like when they come back but I'm happy with both. I think the designer done good.

[The_Tribesman]

.

Thoughts appreciated.

[The_Tribesman]

Lighter colours

[MammothK]

http://kobocoin.com/Kobocoin_Logo4.png
Lighter colours

Prefer the second one and agree with opticoin about the strike through being like money, not convinced by the black dot on 'coin', it could look like a print error or dirt on a screen. Like the light green more- more eco friendly and natural looking green colour. A question, is there a Nigerian currency style or note colour that is useable, can you subtley merge a little African culture into this somewhere?

It is great to see this extra brand development, has your new computer arrived yet, I suggest you use your old one for some (stake) mining, don't want it to go unused 

Can I ask if you don't mind, are you still involved with Bitsoko? I see interesting 0.1 and 0.01 kobocoin transactions creating new wallet addresses, am assuming this is them experimenting with your wallet and blockchain, have never seen that before with other coins, they look like good programmers.

Regards.

[MammothK]

...
One thing I've definitely been thinking of with the private messaging is creating a blockchain email service. I've been testing this out with my current PC. It needs a bit of ironing out but once 2 individuals have connected with each other using kobo addresses, they can actually send a form of encrypted email to each other. It just needs a better GUI. I'd like to find a way that people can send blockchain email without the need for any form of currency exchange so that we then have a true blockchain application that anyone anywhere can use for free.

You have a potentially unlimited and fast network, think that more potential can be derived from a global connection of nodes than 'just' the block update information. Perhaps place 1 megabyte limit on the inter wallet email to reduce spam, and then charge additional kobocoin that goes to the miners on an ever increasing (exponential) scale to allow for larger attachments so if people really want to use up the bandwidth, they can but at a cost.
Is it possible to have the kobocoin value in different fiat currencies in the wallet somewhere(could default to none) ?

Perhaps makes the messaging multiparty, and allow for others to join in afterwards but only if they know the encryption key/get invited or like facebook and allow for groups to be created?
Have you considered multiple keys for signing kobocoin so that lets say, 2 of 3 people must sign it off before it is usable like in a company or if a transaction send it but withhold the key until the recipient delivers their end of the bargain. And could use post dated coins like a cheque, aiming at paying someone inadvance for each month but it is not usable until the correct time (block number in this case, random but predictable time)

Just some more ideas, easy to say all this, but I'm not the one who has to implement it! 

Mammoth.

[wanggq8877]

This coin is available everywhere, making it convenient for the coin to circulate.
I think it will be popularized soon.
 

[capri00]

do you have a roadmap for 2018?

[The_Tribesman]

I'll try and answer your questions:

Mammoth:
You sound like an expert. maybe you should be on the team!

• The black 'dot' - I hadn't given that particular detail much thought. It can easily be changed. I'll do that. Don't let it irritate you!
• My new dev laptop has arrived and it is awesome (Xeon E3 1505Mv6, 32MB RAM, 512GB SSD, OLED). It compiles quietly and efficiently (and looks good doing it too!).
• We are still involved with Bitsoko but KOBO will not be moving to the Ethereum blockchain. There were issues to do with speed (and also to do with ETH gas). On this front I'm doing my best to get all the libraries cleaned up and made readily available so that anyone can create services on the kobo blockchain. Of course, now I've got the new machine I'm hoping to skill and tool up and get a few things out myself.
• I am not aware of any work Bitsoko may be carrying out at this time. The javascript libraries have been passed to a few people. It could be any one of a number of organizations who've downloaded copies. It's easy with the js libs to produce offline addresses. A few merchants have asked for copies. I'm not sure what they're doing with them.
• With the issue of nodes, this is something down the road. There's only so much that we're able to do at a time. The main thing right now is to setup a proper development environment. Once that's done then we can start on other areas that need advancing.
  
  One example is that now I've got a reliable dev pc I'm now building Docker Containers for our apps. It's now possible to run kobocoind or kobocoin-qt as a container app. Once again, there's a lot more to do but at least we're moving in the right direction.
  
  https://hub.docker.com/r/kobocoin/v2.1.0.3/
  https://hub.docker.com/r/kobocoin/v2.1.0.3/tags/
  
  As the code is cleaned up, any runnable applications will be containerized (or bundled). I really want to make it easy to develop apps for our blockchain (but not too easy!).
  

• There are no miners for kobo, only PoS stakeholders. Not sure if this is what you meant.
• With messaging updates, this will also be down the road. The mobile wallets need to be stabilized and the exchange rate feature that used to convert kobo to over 150 different world currencies has stopped working since finance.yahoo.com pulled their free-to-use APIs. I believe it affected a number of android crypto wallets. Were you talking of the desktop wallet?
  
  ALSO - The Nigerian Naira currency symbol also uses double stripes, that's why they were used here as well. I'm surprised you didn't notice it. (...are you too busy spending $$? )
  https://www.google.co.uk/search?biw=1702&bih=953&tbm=isch&sa=1&ei=XVKCWquONKrGgAbH-4DICw&q=naira+currency+symbol&oq=naira+currency+symbol
  
  
• Multi-sig and your other ideas are good, but again, we need time to implement these things. It's always good to come up with great ideas, but when you switch on the machine, start developing, and start getting assertions and exceptions, then you know that development is going to be long and torturous. But at least it's started

capri00:

• There will be a whitepaper and roadmap on the new website coming between Q1/Q2. This is also why the logos are being updated.

[The_Tribesman]

What do you think of this logo? I know it's probably not as aesthetic as the preferred logo but it does scale. On CMC it will scale down and look like "IO". Probably a bit much, and probably nothing to do with our goals, but want to see what you guys think. Don't t look at colours. That can all be changed to suit our purposes. This is just to see what you guys think about it.

I'm really in two minds as to whether it works or not.



There might soon be a new more balanced striped logo for you to take a look at. If it's good enough I'll post it.

We seem to have a winner though. Kobocoin light green with 2 horizontal stripes: A proper currency logo!

 

[Rw13enlib88]

I do prefer the second logo too, but is in your hands since you're the dev 
.

[The_Tribesman]

I do prefer the second logo too, but is in your hands since you're the dev 
.

It's definitely the winner, but I think more people like the lighter green (don't worry, Mammoth... The black dot will go!).
.

[Rw13enlib88]

I do prefer the second logo too, but is in your hands since you're the dev 
.

It's definitely the winner, but I think more people like the lighter green (don't worry, Mammoth... The black dot will go!).
.

both look good. 

[opticoin]

I like the lighter color too.. New design but with a DNA of the soon to be old logo.. Psychologically, the lighter color is also more "cheerful" .

[sokol2504]

so nice that we take part in the approval of the logo. I'm proud of it!!