[BITZ] The Only 10% PoS Crypto to have

[EBK1000]

Anyway, why Bittrex? What about cryptsy?

It would cost about 7 BTC to vote Bitz up to the top on Cryptsy. This is why I don't like it, the exchanges are greedy

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[EBK1000]

How much do they pay?

You can get the coins listed and 'highlighted' for 3 BTC

with the Bitz that you hold, wouldn't you get your BTC back?

Maybe, I don't know, I don't have 3 BTC anyway

[EBK1000]

There has been next to no trade on C-Cex again over the last week or so. When Bitz comes up for delisting again, do you think I should "rescue" Bitz and keep it listed at C-Cex or let it get delisted and make Cryptopia the main exchange and direct everyone there on the OP and the website. I don't think C-Cex is doing Bitz any favours. What do you think?

[wildduck]

I think you`re right dev, but maybe we need to be persistent on twitter to richie and trex and maybe they add bitz.

[EBK1000]

Firstly I would like to reassure you all that we are not going away. Someone expressed their concern that Bitz was a pump-n-dump, but I can assure you it is not. We are in it for the long run and as such there is no hurry in rushing out new features that are not needed or wanted or that will not help adoption of cryptos. I know that we have published a road map and I do admit that I may have to amend it somewhat. There are a couple of reasons for that; one is the extremely low volume and small community. When the road map was worked out it was based on a wider user base. I will endeavour to publish an amended road map as soon as I can.

On the plus side is that the Bitz network is stable and staking is working fine and there are no "repairs" needed at this time or any adjustments.

I will tell you what we are working on and why. Firstly, my main focus has shifted from the new feature development and towards strategies for increasing liquidity. If we do not have liquidity we will not be listed on other exchanges and will not be able to integrate into payment processing companies. So volume first and then set the focus back to new features as per roadmap. Now, we are discussing two ideas, one is to make Bitz masternodes and the other is to develop a "co-dependant" 'slower" coin-2 with what we are calling "merged-staking" at the moment. Both ideas has the purpose of making Bitz a more attractive investment and encourage Bitz acquisition. Masternodes are popular these days but I am undecided as to whether it is a good thing for people to be encouraged to hold a large amount of coins when the value is low. Masternodes seem more appropriate to me if the value of the coin is higher and so the masternodes are more difficult to get. The coin-2 idea will likely draw in more people. I won't go into detail now. The coin-2 idea is an alternative twist to the idea of the masternode in that you will be rewarded for holding Bitz over a period of time and also be rewarded for staking and keeping the node running but the reward will be in the form of a "co-dependant" coin. This coin may accrue a higher interest if kept over a longe period. More of this later.

I am also working on security ideas for the wallet but this is time-consuming and complicated. We want Bitz to be the most secure wallet around but it is no easy thing to do. We first have to work out a strategy and the theory and maths around it and then code it.

If you feel like there is a lack or development it is because most of the work is behind the scenes right now trying to figure out the best way forward. We are two with a very limited budget and other commitments so hang in there.

I was also asked about if we could link and e-mail to a Bitz address. Bitz will incorporate "BitzIdent" in the future where you will register an identity on the blockchain with various advantages and this is likely to have the same function as the e-mail.

Whats the point of cryptos?

Well, I am thinking remittance services at the moment and also simply as digital money. The aim of Bitz when it is developed the way it is meant to be is to be fast and super easy to use. It's really as simple as that. We will persevere and see where that leads. The ideas of cryptos and blockchains are new and nobody really knows where it is going. It is worth the journey though and we will see where it leads. Maybe in the future your fridge will use Bitz to order milk when "The Internet of Things" is out there.

I am still a believer in simplicity and things that just work.

I would like your input on the masternodes and what specs. they could have bearing in mind that Bitz supply is only around 2 mill. coins.

[brianloene]

I see this coin is rated high on coinsource. I'm probably going to buy some.

[EBK1000]

I see this coin is rated high on coinsource. I'm probably going to buy some.

Thank you for your support

[wildduck]

This is very good coin with good dev always around and willing to help.

[jahras]

About 25k for a masternode. Or is this too much?

[brianloene]

Seems like another p and d, why give 10 percent interest for bagholding? Nobody is going to use it in the real economy when you get a 10 percent PoS, so this whole project seems like a contradictio in terminis to deceive the gullible. ITT future bagholders. 

This PoS statement is true. If this coin was as big as Bitcoin is today, then 10% would be way too much. Right now 10% is fine and maybe needed to get people to stake. As the coin gets more popular the 10% could be reduced all the way to 0.1% per year. This doesn't feel like a p 'n d. It feels like a new coin with good potential.

[brianloene]

About 25k for a masternode. Or is this too much?

Too much. 5k is all that I bought so far

[EBK1000]

Seems like another p and d, why give 10 percent interest for bagholding? Nobody is going to use it in the real economy when you get a 10 percent PoS, so this whole project seems like a contradictio in terminis to deceive the gullible. ITT future bagholders. 

The 10% stake is not for bagholding, it's to help run the network. It's exactly the same as with a PoW coin really, like Bitcoin. If you run a full Bitz node 24/7 and help to verify transactions on the network you get a reward or if you run a miner and help to verify transactions and you get a reward (as in PoW). If you just store the Bitz you get nothing. You need to run a full node 24/7. There is a balance to be found somewhere. If the reward is too small nobody will run a full node and if it's too high nobody will want to spend (soon).

Only about 50% of the Bitz are staking at any given time.

We don't know what the real economy will be in a few years, but digital currency is certain to feature in the real economy of the future.

[jahras]

A lot of the larger wallets are not active on the network. Is their share of POS being had by those that stake?

[EBK1000]

A lot of the larger wallets are not active on the network. Is their share of POS being had by those that stake?

No, only the Bitz that are staking will get interest. A lot of people just sit on coins waiting for the right time to sell I guess.

[EBK1000]

As you know, I am trying to find an entry into the merchant / payment processing world so that Bitz can be used to pay for goods / services. I have previously spoken to Litebit (https://www.litebit.eu/en/) and now recently I have spoken to Cointopay (http://cointopay.com/) about integrating Bitz into their systems. They are both willing to integrate Bitz if:

(i) Litebit - Bitz listed at either Bittrex or Cryptsy
(ii) Cointopay - Bitz listed at either Bittrex, Cryptsy or Bleutrade

It seems to me that a listing on Bittrex will move the whole thing forward. If you follow Bitz you will know that I have been trying to lobby Bittrex and also have been running a Twitter campaign lately. This doesn't seem to work. Bittrex is offering to 'highlight' a coin and list it for 3 BTC. That means getting a large 'ad' on the front page of Bittrex. This will promote Bitz and it also means that two payment processing companies have agreed to integrate Bitz after a Bittrex listing.

I was approached by someone (via PM) offering to chip in 0.2 - 0.4 BTC to get Bitz listed at Bittrex. So, I propose that we try to raise 3 BTC and get Bitz listed. This will also attract the people just hoarding Bitz and there will be more trade = more liquidity = greater adoption = Bitz value / demand increase = further development etc.

So, this will only work if we get 10 people contributing with 0.3 BTC each (or more or less). I have been given a pledge by one user (as above) and I will chip in 0.3 BTC so that gives it a 0.6 BTC start. We have set aside 100,000 Bitz for development but so far nobody has contacted us to help out or claimed any of the 100,000 Bitz for promoting Bitz.

So, we can offer 100,000 Bitz split between investors to raise the 3 BTC (except me) divided according to BTC pledge. I am not asking anyone for any BTC now, I want to know if there is enough interest.

If you want to help Bitz get listed on Bittrex then PM or post and tell me how much you would invest and if we reach 3 BTC I will arrange an escrow to get the Bittrex listing.

Currently: 0.6 BTC

[jahras]

will anyone else be donating? I probably would but I'm thinking whats  the point if no one else  will.

[EBK1000]

I am NOT asking anyone to donate right now. I want to know how many would donate and if there are enough then we go ahead with it.

[jahras]

ok has there been any responses?

[EBK1000]

New competition:

Win 5000 Bitz ReTweet Competition

Ends at 2359 hours (GMT London) on Friday 31/07/2015.

[EBK1000]

** BITTREX LISTING UPDATE**

Pledges: me + 2 = 0.9 BTC