Topic: [ANN] Cinni | Mandatory: Convert your Cinni to Stakecoin. Instuctions posted. - page 27. (Read 739177 times)

Let me explain more about what TimeShares is.

What I will do is take a snapshot of Cinni's blockchain and that would be the distribution of the TimeShares project.
I will also ask exchanges to help so Cinni holders on exchanges on the time of the snapshot get their TimeShares too.

Users of TimeShares will be able to use units of time as the currency.
This detail will be made in the user interface rather than in the block chain itself. TimeShares will display a users balance as units of time and allow users to send units of time to each other.

BitsharesX has 2 billion coins
TimeShares will have ~150 million coins. 10 coins for each Cinni.

In the time calculations in the user interface, each coin is calculated as 1 hour.
So if someone has a million TimeShares, his wallet balance is shown as 114 Years, 56 Days 39 Hours 59 Minutes 59 seconds.

When a user sends time, the user interface will convert the amount of time being sent back into actual coins before sending the transaction to the block chain.    
I haven't decided on the trading code yet. I am open to suggestions. Maybe TIME, HOUR, TSHARE, or something similar.

Since I am building this project as a BitSharesX fork, it will have BitSharesX's features too.
You can read more about BitSharesx here http://bitshares-x.info/about.php and https://docs.google.com/document/d/1RLcjSXWuU9vBJzzqLEXVACSCdn8zXKTTJRN_LfoCjNY

I will be also adding encrypted messaging. And later on a betting system that uses feeds.

If I may interject my opinion on this Timeshare project.
As I understand it, Cinni holders will get a 10:1 ratio for the snap shot.
Now that is all fine and dandy. But wouldn't be a wise decision and get new faces into the project by also allowing PTS/AGS holders to get a cut, that is part of the Bitshare consensus?
By doing so your giving this project a HUGE amount of potential backing by introducing that eco system into the mix.

A good ratio IMO would be 80/20.
80% to Cinni wallet holders (8:1)
10% to PTS holders and 10% to AGS holders
 

Of course you're not OBLIGATED to include PTS/AGS holders.
But, on the other hand, I think you'd be shooting this project in the foot by not including them. Just forking Bitshares wouldn't be a wise move. There's no incentive.

Outside of Timeshares, have you thought about doing a bitCINNI asset. That would be another way to get things going!

again, just opinion.

If I may interject my opinion on this Timeshare project.
As I understand it, Cinni holders will get a 10:1 ratio for the snap shot.
Now that is all fine and dandy. But wouldn't be a wise decision and get new faces into the project by also allowing PTS/AGS holders to get a cut, that is part of the Bitshare consensus?
By doing so your giving this project a HUGE amount of potential backing by introducing that eco system into the mix.

A good ratio IMO would be 80/20.
80% to Cinni wallet holders (8:1)
10% to PTS holders and 10% to AGS holders
 

Of course you're not OBLIGATED to include PTS/AGS holders.
But, on the other hand, I think you'd be shooting this project in the foot by not including them. Just forking Bitshares wouldn't be a wise move. There's no incentive.

Outside of Timeshares, have you thought about doing a bitCINNI asset. That would be another way to get things going!

again, just opinion.

so what happens after this, will Cinni will abandoned and replaced by this?  Where will this new coin be traded?
 

Yes I will communicate more.

I will send moolah an email to ask them not to delist cinni in v2.
Also I will send an email to mintpal, cryptsy, poloniex, crypto-trade, atomic-trade, coins-e, palth, bit126, and every other exchange that has cinni listed, and even the exchanges that had cinni listed in the past because maybe users still have a cinni balance there.
I will ask them to help during the snapshot by saving the number of cinni each user holds to give them their timeshares when the exchanges private keys get the timeshares, and also to give people an option to withdraw in timeshares, and also will ask them to list timeshares if they like it.

Once we agree on the time and date of the snapshot i will post it here

OK, could you tell us the snapshot date and time minimal one day ahead of?

I need to talk to exchanges and agree on a date for the snapshot so it can work for the people who have cinni on exchanges too.
Ideally it will be before the beta.

when will the snapshot be? I need time to get them off the exchanges..

Let me explain more about what TimeShares is.

What I will do is take a snapshot of Cinni's blockchain and that would be the distribution of the TimeShares project.
I will also ask exchanges to help so Cinni holders on exchanges on the time of the snapshot get their TimeShares too.

Users of TimeShares will be able to use units of time as the currency.
This detail will be made in the user interface rather than in the block chain itself. TimeShares will display a users balance as units of time and allow users to send units of time to each other.

BitsharesX has 2 billion coins
TimeShares will have ~150 million coins. 10 coins for each Cinni.

In the time calculations in the user interface, each coin is calculated as 1 hour.
So if someone has a million TimeShares, his wallet balance is shown as 114 Years, 56 Days 39 Hours 59 Minutes 59 seconds.

When a user sends time, the user interface will convert the amount of time being sent back into actual coins before sending the transaction to the block chain.    
I haven't decided on the trading code yet. I am open to suggestions. Maybe TIME, HOUR, TSHARE, or something similar.

Since I am building this project as a BitSharesX fork, it will have BitSharesX's features too.
You can read more about BitSharesx here http://bitshares-x.info/about.php and https://docs.google.com/document/d/1RLcjSXWuU9vBJzzqLEXVACSCdn8zXKTTJRN_LfoCjNY

I will be also adding encrypted messaging. And later on a betting system that uses feeds.

okay I get it.

Still one question,
To explain to people how timeshares works etc, do you build a new website for this or do you still used cinnicoin.com
 (For new announce updates and operation of timeshare)

If you have Cinni, lets say 20,000 Cinni on the time of the snapshot, you will have 20,000 Cinni and 200,000 TimeShares after the snapshot.

So if I understand correctly is Timeshare entirely new and unrelated of Cinni. Cinni hold to exist. And Cinni coins are changed for Timeshare (coins?). Is this correct?

Thanks for the update. Can you give us an eta on beta and testnet?