[ANN] OCTO - Resurrect 888 - New Counterparty Asset

[hashbrown9000]

Also, how do points and FAH credits relate? 1:1 or ....?

[madmartyk]

Also, how do points and FAH credits relate? 1:1 or ....?

I think (and I think Foldingcoin will chime in), the work units are what is important.  The more WUs completed, the more other coins you get.

[OCTOPARTY]

Yeah these are definite Robert questions. I haven't had a chance to read into detail as far as the equations of credits. I'm sure he'll chime in about this when he sees the questions. For now, I bet the website explains it more. But who knows. I'd look more into it but I have photoshop homework for this job i'm trying to get. I have to get it done before I can do anything OCTO.

Fingers crossed. I need this job big time so I can destress and focus more on this after work instead of job hunting, etc.

[OCTOPARTY]

Exciting News!!!!!

http://counterparty.io/news/counterparty-update-mar-13/

Desktop Beta is released.

[OCTOPARTY]

For Windows.... poor mac users like me :/ oh well. Enjoy Windows fans! I'll have my Windows desktop up sooner or later

Remember, this is a beta. I'd wait for updates before putting too much in the desktop beta. Counterwallet is far more developed. But many people loathe web wallets. So this is a step in the right direction

[hashbrown9000]

Good luck with the job, Octoparty!

[FoldingCoin]

Well, Ive been folding since the octo changeover, and I finally put changed my settings to receive OCTO.  But I haven't gotten any payouts yet?  Can someone check?
MY dashboard says I have 72,000 points.  Counterwallet address is 13f33D5Km4har8V9xiSv1ZFgDddBq6bwGV and I have Team Number set to 0.

The OCTO payouts are going to occur monthly to save cost for you guys right now. FoldingCoin is developing an off chain distribution system in which we will eventually make it very cheap for daily distributions, but that is something we are working right now

[OCTOPARTY]

Good luck with the job, Octoparty!

thanks hash. appreciate it.

[OCTOPARTY]

https://github.com/CounterpartyXCP/counterparty-gui/releases

[mafort1469]

Ok, that is great and all, but how do I use it? Thanks.

Edit: Specific Instructions please.

[OCTOPARTY]

ummmm no idea lol. i don't have my pc hooked up. only macbook. i'd suggest looking at the blog post and reading it in case there's any instructions.

[OCTOPARTY]

http://counterparty.io/news/counterparty-update-mar-13/

[OCTOPARTY]

12tLdoXzqCdRh5wFvNZvCUwyspEac43Xpa

This is the OCTO developers fund. You will find a 250,000 balance that was donated by a Octocoin burner. Thanks to the donator for starting this fund. More will be officially added in the future from the distribution fund but that will be down the road. For now, feel free to donate to the developers fund. The higher we have from the community, the better developers we will attract. When they see the community donating before we even release from the distribution to fund projects, they will know that we have their backs.

Thanks so much to all who burned Octocoin to help create OCTO. I could have easily started a new token and not have done a burn at all. However, it's mutually beneficial. Not only do you guys get the chance to switch to a coin and community that will matter, but we also gain a head start with OCTO by having an established support group from the get go. That is a very valuable asset whenever you are starting something new. Many of you guys pitched in support, BTC and help in many areas. That was very motivating to myself and Robert at FoldingCoin.

Please continue to show support by donating some OCTO to this fund. These funds will be used to give developers an incentive to work hard when we launch the first projects working model. There will not be a very high BTC incentive until we get a working model that we can show when it's time to start the crowd sale. The point of the crowd sale will be to raise BTC to help pay for web hosting, domain names, server/s or server rental, marketing and front/back end developers as well as a web developer.

We have a long way to go and we are just getting started. I am starting by donating 1000 OCTO to this fund myself.

You can check the balance and transactions here:

http://blockscan.com/address?q=12tLdoXzqCdRh5wFvNZvCUwyspEac43Xpa

[OCTOPARTY]

OP is updated to reflect burn results and merged mining updates. I will post more there soon. I deleted all of the burn info we had posted since it's in the threads anyways. I will take a snapshot of the excel document and post the distribution amounts for merged mining sometime tomorrow. I will also work on updating the website this week. At this point I do not see the need to really change the website. I wish it looked better than it did. However, nobody really responded with the opinion that we should spend some more BTC to have someone really work it out.

Next phase: shop around for t shirt vendors and speak with potential merged mining partners. Once I have quotes on tees I will start the crowd fund to get them started. I will find the best, soft, quality tees at a decent price. We need to make some decent money on the tees in order to raise BTC and cash to fund the "working model" for the first project.

We will start discussions about the first project pretty soon.

I also have another idea to raise money for the "working model" but I need to attend one of the local Bitcoin meetups to discuss with local vendors and Bitoin guru's since they know the market down here leading into the Bitcoin Bowl this year. But the idea is to have OCTO and maybe some other merged folders sponsor a really neat token access idea for merchants leading into the Bitcoin Bowl this year. I really want to capitalize on my location. I also may ask that you as a community give me permission to distribute some OCTO to attendees of the Bitcoin Meetup groups locally to help gain some interest and also have a good way to start conversations with these people. I think one of the best ways is to choose an amount form the total distribution as well as donations from the community. They hold Bitcoin meetups frequently here between 2 groups.

Here are the two groups:

http://www.meetup.com/Tampa-Bay-Bitcoineers/

http://www.meetup.com/Bitcoin-Enthusiasts/

Thanks guys! I'm done for the night. I start my new job tomorrow.

[OCTOPARTY]

happy to see guys donating to the developers fund. thanks!

http://blockscan.com/address?q=12tLdoXzqCdRh5wFvNZvCUwyspEac43Xpa

donate here: 12tLdoXzqCdRh5wFvNZvCUwyspEac43Xpa

[OCTOPARTY]

OCTO - Notes.
Total of Locked Counterparty Asset: 88.8 Million
Available to Distribute in the Future:

Distributed so far: 42,669,174.07
Pre-Sale - 75,000 to raise money for block explorer and website
Octocoin Burn 1:1 trade for OCTO - 19594174.07
OCTO 888 Lottery Faucet - 322892
Merged Mining at FoldingCoin - 22677108

Merged Mining at FoldingCoin is from 2015-2023 (8 years).
OCTO 888 Lottery Faucet is from March 2015-February 2016

This is what should be left for distribution in the future for crowd sale: 46,130,625

www.foldingcoin.net/octoparty
https://letstalkbitcoin.com/forum/post/octo-888-lottery-faucet

So I have to figure out how to gauge the total supply vs the available supply for Coinmarketcap.com

We need to come up with a way to track the release of funds for the faucet and mining and to differentiate what has been distributed vs what is waiting to be distributed in the mining and the faucet. We also need to make sure that even though the token count of 88.8 million has been created that we are aware that most has not been distributed.

I'll rack my brain this week. Any ideas on how we track all of this? I may have to reach out to other Counterparty devs who have not distributed 100% of their tokens to see how they do this.

[OCTOPARTY]

So it costs .05 BTC to be listed on The MasterXchange. This is Mastercoin's exchange. It won't be a lot of volume but since it allows you to create the market and use Counterparty tokens I'm going to set it up. Be sure to go and do a few trades there so their API will show us some price discovery.

This will show us as being on the Counterparty in wallet DEX and on MasterXchange.  Two exchanges is better than one when shopping us out to Bittrex and Polonoiex.

I will post the links in the next post when I pull them up. We need to start reaching out to Polo and Bittrex. Specially since we have been on Bittrex before. We can go after BTER as well but I'll be honest I don't and won't use them anymore. But they do allow Counterparty assets I believe.

[FoldingCoin]

So it costs .05 BTC to be listed on The MasterXchange. This is Mastercoin's exchange. It won't be a lot of volume but since it allows you to create the market and use Counterparty tokens I'm going to set it up. Be sure to go and do a few trades there so their API will show us some price discovery.

This will show us as being on the Counterparty in wallet DEX and on MasterXchange.  Two exchanges is better than one when shopping us out to Bittrex and Polonoiex.

I will post the links in the next post when I pull them up. We need to start reaching out to Polo and Bittrex. Specially since we have been on Bittrex before. We can go after BTER as well but I'll be honest I don't and won't use them anymore. But they do allow Counterparty assets I believe.

oh wow! this is much cheaper than it was originally, when we did this it was 0.2 BTC! I would say do it, cant hurt

[OCTOPARTY]

Yeah Robert,

I saw it was much cheaper. I just sent the .05 to my MasterXchange wallet. I'm setting it up as soon as it posts. Guys, if you hold a OCTOFAME token and are listed below, you are the ones who donated. Give me your permission to reimburse myself the .05 BTC The total in the wallet at this point is 0.25091218 so we will still have about .2 left over. I vote yes to reimburse myself. I didn't just want to take it from the pot without permission.

SquidsIn - yes
OCTOPARTY - yes
FixItDad
mafort1469 - yes
madmartyk
FoldingCoin - yes

[SquidsIn]

Yeah Robert,

I saw it was much cheaper. I just sent the .05 to my MasterXchange wallet. I'm setting it up as soon as it posts. Guys, if you hold a OCTOFAME token and are listed below, you are the ones who donated. Give me your permission to reimburse myself the .05 BTC The total in the wallet at this point is 0.25091218 so we will still have about .2 left over. I vote yes to reimburse myself. I didn't just want to take it from the pot without permission.

SquidsIn
OCTOPARTY - yes
FixItDad
mafort1469
madmartyk
FoldingCoin

That's fine by me.