Topic: [ANN] Blacknet | IBO for BlackCoin | New code | PoS | No ICO - page 29. (Read 2509934 times)

of course i wish i had more and more blackcoin ,blacknet and ercoin. dont you?

I’ve released burnt-explorer 2.0.0. It now outputs more data (which may be helpful for statistics and visualisations) in standard CSV format. It is also possible to specify a custom blackcoind command.

Personally I think BLK snapshot for Blacknet then burning of either Blacknet / Blackcoin for Ercoin is better, depending on timelines.

I think the market showed that it's ready to abuse all three projects if we go for 1 blackcoin = 1 blackcoin + 1 blacknet + 1 ercoin.
So, explicit choice via burning seems to be the most fair option.

An interesting dilemma. When asking the original question I had snapshot in mind as a method of Blacknet distribution, but whether it is snapshot or burning may be not that important in the considerations below.

If 1 blackcoin = 1 blacknet or 1 ercoin, then investors will have an opportunity to make a decision of how to divide funds between Ercoin and Blacknet. If 1 blackcoin = 1 blacknet and 1 ercoin, then investment preferences in this regard will not be reflected in the initial distribution and there will likely be a lot of trading after the launches to achieve state from the former case.

In the latter case, the fact that obtaining Ercoin via burning will also mean obtaining Blacknet and vice versa may mean that more people in total will hold both currencies, which may result in greater adoption. On the other hand, if people are not allowed to choose between the two currencies, then it may form an incentive to not purchase BlackCoin at all, wait until the launch of the currency they’re interested in and purchase it on an exchange. In particular it may therefore result in a lower value of BLK burnt/snapshotted and therefore lower perceived value of both currencies.

“Merged burning” (allowing the same burned BLKs to participate both in Blacknet and Ercoin distribution) may form an interesting marketing opportunity, but so may another alternatives.

Weighing the pros and cons above, I’m currently leaning toward 1 blackcoin = 1 blacknet or 1 ercoin.

Sounds plausible.
Total max coins 76 trillion
Purchase .01 Blacknet for .000000000002 BTC.

All you need is to submit a Bitcoin Improvement Proposal to add 4 decimal places to BTC and hope that the Blacknet/BTC price never falls by more than 50% causing 0 exchange volume at the 1/10000 Satoshi price.

I think it’s actual, serious technology in project, super project for invesment!

I am very interested in blacknet, but I don't want to burn my precious blackcoin to get blacknet...

I hope distribution is done via snapshot.

I am willing to buy some extra blk to burn to get ercoin though.

This is a major change from “Wait for a good opportunity to buy BLK, then wait for the snapshot.That simple”

I’m sure many would like to know why “Burning is inevitable.”


The problems I see with burning BLK for Blacknet or Ercoin are:
1.   Trusted Third Party or Swap Software needed to facilitate the swap
  a.   People involved may be unreliable or have ulterior motives causing possible loss of Blackcoin with nothing in return.
  b.   Swap software may have bugs, or can be hackable causing possible loss of Blackcoin with nothing in return.
2.   BLK holders are trading something that has present value and is tradable across several exchanges including shapeshift.io and flyp.me for something not tradable and which may or may not be tradable at some future time, at some value which may be higher or lower than that of the burned BLK.
3.   BLK Proven peer to peer transfer network exchanged for new “untested in real world” networks
4.   BLK total coin supply & market cap calculations become invalid.
5.   Existing BLK supply gets more concentrated in the hands of centralized exchanges.
6.   If any crash and burn occurs, both burned BLK and the new tokens are gone.

A snapshot avoids all these issues, requires no trust, and is pretty much invisible to BLK, except for the trading occurring before and after. If something goes wrong in the processes, no one is at risk of losing anything.

If coin holders are going to be asked to burn BLK in exchange for a new coin, they should have detailed information about the exchange processes, and enough information on the new coin networks to make an informed decision.

I really want to like Blacknet, but at this point, it’s just vaporware wanting to eat my Blackcoin.

Can Blacknet have more coins than Blackcoin?
What if every 1 BLK is 1,000,000 blacknet. with 2 decimal places.

The same 1.00000000 can be

Lets let Rat4 decide what to do.

Snapshot option:
There is the option of giving every address who holds BLK on a certain block/or time the same amount or proportional amount in Blacknet.
Then the people who want Ercoin can burn their BLK for Ercoins.

Burn opt-in option:
There is also the option of letting people opt in to Blacknet by burning the amount of Blackcoins that they want to participate in Blacknet. But this comes at a cost to the person participating in not having the Blackcoin that were burned anymore.
Ercoin can also give Ercoin to the people in this list who already burned BLK for Blacknet, or Ercoin can ask people to burn BLK again for Ercoin's own list.

No-burn opt-in option:
There is also another option of letting people opt in to Blacknet by signing that they want to opt in to blacknet with the address that contains the Blackcoin balance that they want to participate in Blacknet without having to burn it. They would have to submit the signature and what they are signing somewhere, for example in a website or something that Rat4 makes that can allow this. Then at a certain block or time it checks the balance of the addresses submitted.

Both the opt-in options come at an additional cost of not giving people who didn't opt in any coins. Perhaps they are exchanges, so people on exchanges wouldn't get any coins. Or they are on vacation and didn't follow the information or anything and would not get any coins.

If he decides to opt-in to get Blacknet?
This will result in a lower coin amount than blackcoin currently has.


The option I would prefer is to just send BTC to Rat4 and get some Blacknet but I don't think that will happen.

Will the burn be "forever" or just a short period of time? Would link both marketcaps together.

Burning is inevitable

You believe there will be a blacknet coin in addition too this blacknet thread

I would prefer NOT to see a reduction in the overall supply of Blacknet, therefore Blacknet snapshot before Ercoin/Blackcoin "swap and burn" opportunity.
"1 BlackCoin = 1 Blacknet + 1 Ercoin"
It's assumed here I think that Blackcoin won't need to be burned to receive Blacknet tokens.

Any more information available about the segwit announcement on the blackcoin?
I really want to know...

Honestly, we shouldnt  think of selling at los. I will wait for months to have my profit.

Good luck JANKO...we will miss youu

1 Blackcoin = 1 Blackcoin - what about that?

I see two possible outcomes:
1 BlackCoin = 1 Blacknet + 1 Ercoin
1 BlackCoin = 1 Blacknet or  1 Ercoin

In which one are you interested?