[ANN] OCTO - Resurrect 888 - New Counterparty Asset

[OCTOPARTY]

We are now live on Dogedradio http://dogecoindark.net/radio/ and we will be plugging OCTO

you guys should check this out. if you haven't seen the first one, it was a very good show as well. first one is on youtube. i'm sure this one will be posted on youtube if you miss it live

[FoldingCoin]

We are now live on Dogedradio http://dogecoindark.net/radio/ and we will be plugging OCTO

you guys should check this out. if you haven't seen the first one, it was a very good show as well. first one is on youtube. i'm sure this one will be posted on youtube if you miss it live

It does appear to be split time with syscoin as well, but thats ok, just call in to ask us questions

[OCTOPARTY]

I'm catching the follow up this morning before I head to work.

http://dogecoindark.net/radio/archives.html

don't forget. it's the 7th. today and tomorrow are it for the burn? any guesses on the total number? we are sitting just under 10 million this morning. how many big holders are left? another 10 million? 5 million? 25 million? we will see by 11:59 pm est on the 8th

[hashbrown9000]

just so we're clear, that's the last minute of Sunday night. about 36 hours away

[OCTOPARTY]

guys, we really need to start thinking next step. we need opinions on the merged mining distribution. mining gives everyone a chance to use their GPU and CPU, no asics, and donate to a good cause to receive OCTO. it needs to be a good size of the coin and for a semi-long term. i personally have decided that 8 years is a good time. crypto will change so much, so who knows even in 8 years where we will be. we can do it for longer if the community wants. you can even set it up to just keep halving an kinda mine forever. i'm not sure what the best way is. i was originally thinking about a split between burn/mining/crowd sale/other as a 20/20/20/28.8 as a basic theory. however, we didn't know what the burn total would be. i was even scared that it would reach in the 30-40 million range in which it would be hard not to give a equal sale amount. it's safe to say at this point we prolly won't even hit close to 30. it gives us more flexibility. if we do a 15 burn then you could think more in line with 15burn/15crowdsale1/15crowdsale2/25mining/18.8million other.

the crowd sales would fund projects. the first project i'm already laying out. the second project, honestly, i'm hoping that  someone else will come along with a great idea the community wants to see and we rally around them and raise some money for them to make it happen. now one thing that's important to remember, to keep funding more projects after the crowd sales we will have to establish funds for future projects past 2. so they have to be good ideas that can make profits and keep the wheel of projects turning. i think this first project will be a good money maker. but project 2 has to be something that can spurn funding as well. if we keep a % of profits out to fund projects between 2 profitable projects we may be able to fund at least 1 new project a year and maybe more that would be awesome to grow and supply jobs. if the first project is successful, it should keep a few people working full time.

another thing to consider is the other section of distribution. other will include payouts to other counterparty asset holders as advertising, payouts to community for bounties, payouts to developers, sponsorships, etc.

one really bright note: of the coins i am burning, 250,000 was donated to me anonymously with the instruction to set up a developers fund. so out of the total burn amount, we already have a large amount to the devs without even distributing new OCTO for that purpose. we will post the address that hosts the developers fund and i'm sure more in the OCTO community will donate some small amounts over time. but some will have to come from the OCTO distribution.

if we just use the example of 25 million by 8 years for FoldingCoin merged mining:

3,125,000 per year
260,416 per month
60,096.1538 per week
8,585.16484 per day
357.715201 per hour

that's an even distribution. we could set it up over an 8 year period however we like. we could reward these early miners with a slightly larger payout. we could set it up to halve every year until 8 years is up. we have lots of options.

i am looking for community input on this. as burners and the original community we have the power to decide the distribution. remember, longer period and slower builds the total available slowly as the number of people begin to use OCTO.

[OCTOPARTY]

just so we're clear, that's the last minute of Sunday night. about 36 hours away

correcto.

[FoldingCoin]

Just to confirm Kris, we will be working on setting up OCTO for merged folding beginning Monday as the first day (so Monday 12:01AM) that one could earn OCTO via the mining method.

So today we will need a final decision on the amount of coins per day that OCTO plans on dispersing. You can always change it later and you do not necessarily need a halfing methodology yet, you can still decide that with your community. But in order for the calculations to take place, we need a final daily number.

For the rest of the community:

There are two easy steps to take in order to start earning OCTO in addition to FLDC and the rest of the merged folding family. Please follow these two steps to get going:

• Step 1. Setup a wallet http://foldingcoin.net/counterparty-guides/#wallet
• Step 2. Setup your FAH client http://foldingcoin.net/windows-guides/#setup

Please email me rross@foldingcoin.net with any questions or concerns. Make sure you use the "username_ALL_CPaddress" style username

[FoldingCoin]

guys, we really need to start thinking next step. we need opinions on the merged mining distribution. mining gives everyone a chance to use their GPU and CPU, no asics, and donate to a good cause to receive OCTO. it needs to be a good size of the coin and for a semi-long term. i personally have decided that 8 years is a good time. crypto will change so much, so who knows even in 8 years where we will be. we can do it for longer if the community wants. you can even set it up to just keep halving an kinda mine forever. i'm not sure what the best way is. i was originally thinking about a split between burn/mining/crowd sale/other as a 20/20/20/28.8 as a basic theory. however, we didn't know what the burn total would be. i was even scared that it would reach in the 30-40 million range in which it would be hard not to give a equal sale amount. it's safe to say at this point we prolly won't even hit close to 30. it gives us more flexibility. if we do a 15 burn then you could think more in line with 15burn/15crowdsale1/15crowdsale2/25mining/18.8million other.

the crowd sales would fund projects. the first project i'm already laying out. the second project, honestly, i'm hoping that  someone else will come along with a great idea the community wants to see and we rally around them and raise some money for them to make it happen. now one thing that's important to remember, to keep funding more projects after the crowd sales we will have to establish funds for future projects past 2. so they have to be good ideas that can make profits and keep the wheel of projects turning. i think this first project will be a good money maker. but project 2 has to be something that can spurn funding as well. if we keep a % of profits out to fund projects between 2 profitable projects we may be able to fund at least 1 new project a year and maybe more that would be awesome to grow and supply jobs. if the first project is successful, it should keep a few people working full time.

another thing to consider is the other section of distribution. other will include payouts to other counterparty asset holders as advertising, payouts to community for bounties, payouts to developers, sponsorships, etc.

one really bright note: of the coins i am burning, 250,000 was donated to me anonymously with the instruction to set up a developers fund. so out of the total burn amount, we already have a large amount to the devs without even distributing new OCTO for that purpose. we will post the address that hosts the developers fund and i'm sure more in the OCTO community will donate some small amounts over time. but some will have to come from the OCTO distribution.

if we just use the example of 25 million by 8 years for FoldingCoin merged mining:

3,125,000 per year
260,416 per month
60,096.1538 per week
8,585.16484 per day
357.715201 per hour

that's an even distribution. we could set it up over an 8 year period however we like. we could reward these early miners with a slightly larger payout. we could set it up to halve every year until 8 years is up. we have lots of options.

i am looking for community input on this. as burners and the original community we have the power to decide the distribution. remember, longer period and slower builds the total available slowly as the number of people begin to use OCTO.

So we can get testing going, we are going to use the 8,585.16484 Per day method right now. We can change this later if you need, but we need to start compiling the code so it will be ready by Monday, thanks

[OCTOPARTY]

guys, we really need to start thinking next step. we need opinions on the merged mining distribution. mining gives everyone a chance to use their GPU and CPU, no asics, and donate to a good cause to receive OCTO. it needs to be a good size of the coin and for a semi-long term. i personally have decided that 8 years is a good time. crypto will change so much, so who knows even in 8 years where we will be. we can do it for longer if the community wants. you can even set it up to just keep halving an kinda mine forever. i'm not sure what the best way is. i was originally thinking about a split between burn/mining/crowd sale/other as a 20/20/20/28.8 as a basic theory. however, we didn't know what the burn total would be. i was even scared that it would reach in the 30-40 million range in which it would be hard not to give a equal sale amount. it's safe to say at this point we prolly won't even hit close to 30. it gives us more flexibility. if we do a 15 burn then you could think more in line with 15burn/15crowdsale1/15crowdsale2/25mining/18.8million other.

the crowd sales would fund projects. the first project i'm already laying out. the second project, honestly, i'm hoping that  someone else will come along with a great idea the community wants to see and we rally around them and raise some money for them to make it happen. now one thing that's important to remember, to keep funding more projects after the crowd sales we will have to establish funds for future projects past 2. so they have to be good ideas that can make profits and keep the wheel of projects turning. i think this first project will be a good money maker. but project 2 has to be something that can spurn funding as well. if we keep a % of profits out to fund projects between 2 profitable projects we may be able to fund at least 1 new project a year and maybe more that would be awesome to grow and supply jobs. if the first project is successful, it should keep a few people working full time.

another thing to consider is the other section of distribution. other will include payouts to other counterparty asset holders as advertising, payouts to community for bounties, payouts to developers, sponsorships, etc.

one really bright note: of the coins i am burning, 250,000 was donated to me anonymously with the instruction to set up a developers fund. so out of the total burn amount, we already have a large amount to the devs without even distributing new OCTO for that purpose. we will post the address that hosts the developers fund and i'm sure more in the OCTO community will donate some small amounts over time. but some will have to come from the OCTO distribution.

if we just use the example of 25 million by 8 years for FoldingCoin merged mining:

3,125,000 per year
260,416 per month
60,096.1538 per week
8,585.16484 per day
357.715201 per hour

that's an even distribution. we could set it up over an 8 year period however we like. we could reward these early miners with a slightly larger payout. we could set it up to halve every year until 8 years is up. we have lots of options.

i am looking for community input on this. as burners and the original community we have the power to decide the distribution. remember, longer period and slower builds the total available slowly as the number of people begin to use OCTO.

So we can get testing going, we are going to use the 8,585.16484 Per day method right now. We can change this later if you need, but we need to start compiling the code so it will be ready by Monday, thanks

I'm working the numbers right now as we speak. I'll skype you about it soon.

[FixItDad]

 Any one having trouble sending over a million octo for the burn
My wallet will not let me send 1.1 million octo says it is to large.
Even 600k fails
Any tips?
Thank you!

[FixItDad]

Dont worry - Done in three transactions from wallet 8KVxyyWTyiFcqBuNjysVAoNRAqP6Rtjn9o

Status: 9 confirmations, broadcast through 7 nodes
Date: 8/03/2015 20:54
To: Burn to CP Wallet 8burnYouroctoHere4oCToPartyXRcdDgX
Debit: -500329.36097073 888
Transaction fee: -1.53021287 888
Net amount: -500330.8911836 888
Transaction ID: 3322bd297a23296d2fac9651ae6e2d600e2da82d26af3d9ca29bfd8f4e23ecbf-000

Status: 7 confirmations, broadcast through 7 nodes
Date: 8/03/2015 20:56
To: Burn to CP Wallet 8burnYouroctoHere4oCToPartyXRcdDgX
Debit: -509998.53978713 888
Transaction fee: -1.76 888
Net amount: -510000.29978713 888
Transaction ID: 23765a01f4d910dbce5a153537dd767155f0f271fb6b856312a0abbd49689535-000

Status: 5/unconfirmed, broadcast through 6 nodes
Date: 8/03/2015 20:57
To: Burn to CP Wallet 8burnYouroctoHere4oCToPartyXRcdDgX
Debit: -99997.14 888
Transaction fee: -1.10 888
Net amount: -99998.24 888
Transaction ID: 2e25856343e07eae4de235c4978795d9a79953d46d710afed6644f6ae0e91199-000

[langvad]

Any one having trouble sending over a million octo for the burn
My wallet will not let me send 1.1 million octo says it is to large.
Even 600k fails
Any tips?
Thank you!

we did it with 150k untill done, i think 191k worked too, maybe try 200k, just mulitiple sendings and it should work just fine

[FixItDad]

Any one having trouble sending over a million octo for the burn
My wallet will not let me send 1.1 million octo says it is to large.
Even 600k fails
Any tips?
Thank you!

we did it with 150k untill done, i think 191k worked too, maybe try 200k, just mulitiple sendings and it should work just fine

Thank you langvad

[OCTOPARTY]

sent Fixitdad. You now have OCTO and OCTOFAME from your donation to the block explorer and the website.

remember guys, when you hold OCTO and the OCTOFAME tokens, you can register on the forum:

https://letstalkbitcoin. com /forum/board/all

You will see a reg forum and 2 special forums for our coin and token holders

also check out www.theoctoparty.com

[OCTOPARTY]

So we will have 25 million coins distributed to merged mining with FoldingCoin and a faucet set up on letstalkbitcoin forum.

The merged mining was a little tougher to figure than I thought. So there was a balance left over so we could keep daily distributions rates even with no decimal places.

So around 24 million will be mined and a little over 1 for the faucet. Exact numbers have been to folding coin devs and I'll post em here later.

Gotta run for now. Burn your coins before midnight!

[cabbage2014]

Managed to hit target of just over 1 million Octo! Sent and showing as burned txid f0a9a62e600b7f6f96603d7681590df880c1f70c6d1fa37f06d7285920c2a48c.  Really excited to see what the future of Octoparty holds Wishing you all the best of luck!

[langvad]

Any one having trouble sending over a million octo for the burn
My wallet will not let me send 1.1 million octo says it is to large.
Even 600k fails
Any tips?
Thank you!

we did it with 150k untill done, i think 191k worked too, maybe try 200k, just mulitiple sendings and it should work just fine

Thank you langvad

No problem bro

[soundslave]

Hello,

I already burned my 888 earlier today and I found few more blocks..

Who didn't burn yet and wants about 1k 888?

Post your address.. 

[hashbrown9000]

8JvB8mZu74sa8YdHxysDSXbFXpteWcnPdk

thank you!

[soundslave]

8JvB8mZu74sa8YdHxysDSXbFXpteWcnPdk

thank you!

No prob, 240 more when comfirmed..