Topic: [ANN] FedoraCoin (TiPS); New style, new services, same unique features - page 47. (Read 181129 times)

I 2nd this plan:
Convert to POS
Consider a high staking interest rate to attract attention. Inflation rates can be planned for in advanced and easily controlled I am told. Study Hyperstake/Truckcoin experience to date.
Burn several billion coins
Issue V2. Tips or whatever
Drop Fedora name
----------------------
I am gonna start now buying more Tips.
I think a billion before the burn, if this happens and I think it will,  would be quite sufficient to make a significant profit.
Best of energy to this Dev and all supporters!

not yet, I need more feedback from the community about the questions I posted regarding that. Should I just create a new address on my computer wallet, or make a cold wallet (I need help since I never done that before). Also we need to get the reddit community to agree on that as well! (many are there but don't use BTCTalk)

Do you have an address for the denotation/development wallet yet? I've been off for a few days and I see things are progressing nicely, great job!

Next on the agenda for us as a community:

1- discuss and decide on the fundamental changes for our new start: what do we want to change about the code (TiPS 2.0)
2- volunteer and fill the lists on Brain of TiPS
3- start using the trello boards (incl. community board)
4- decide on devs
5- agree on funds wallet format


Other tasks:
- sort out ideas files
- answer the questions in the Temp folder
- decide and start using the needed tools (redbooth, trello, hojoki etc) and put those in the announcement post and reddit.

Ladies and Gentlemen I present to you..



Current Obstacles:
We have some issues which we need to solve, and some fundamental changes would solve those and put us in a strong starting position. We need to avoid the following problems:

• 1. No funding available to pay for developers, websites or any new endeavours. This problem is already on the list of issues we need to solve, but the suggestions I’m going to propose next might also be a viable solution.
• 2. As soon as price of TIPS goes to the 50ltc again, we will probably face the exact same problem that caused the sell off in the first place: Miners getting a lot of tips then dumping them. This means until maybe 80% of the coins are mined, we will not be able to get the price higher. Is that a problem? I don’t know, you tell me
• 3. Being on the ltc market instead of btc means we are dependent on the success of ltc and other cheap coins, and volumes there are always lower than btc meaning lower volumes for us and less success.

Current strengths of TIPS

• A coin mixing service (needs transaction volume) that provides a level of anonymity
• A large number of coins ( too large ?? )
• The symbol TIPS
• w/fedoracoin payments system https://pay.withfedoraco.in/

Plan layout

• Redesign TiPS 2.0 with optimal choices of algorithms.
• Focus on project building, business and value creation. Businesses are designed and developed by the community through groups of collaboration.
• We will create an entire economy, study what markets we need to cover and expand in a constructive way that each new market supports and depends on other areas we cover. We will be a fruitful environment that produces new successful businesses through support and coordinated planning.

We need to define our goals and markets where TIPS will offer its services and concentrate on that:
discuss on forum what markets we want to target… See this post

TiPS 2.0 - Proposal for a New Start
Our coin is now at the lowest prices it has ever been at (regarding price per coin) after a continuous drop caused majorly by multipools mining and dumping. Now we either can come up with a new plan and ways to counter that and reinvent ourselves, or I see no hope for TiPS to survive for another year. A few other things we need to deal with are listed in the TiPS Plan document along with possible solutions. But the fundamental suggestions to consider are listed here and need to be discussed and decided upon by the community.

Fundamental Changes
Basic issues to solve and go beyond:

• 1. Switch to POS - reasons:
  multipools: they make money by mining TiPS instead of the community, dump and hurt TiPS. Vs POS algorithm where the community supports the network instead of hardware owners and the community gets rewarded with the new TiPS through this. This would support the price as well since less people would be selling and preferring to stake. If we make progress and go up to 50lit while still on the POW algo, remember that multipools will jump right in again and mine and dump our coin to oblivion just like they did before.
  reserve a pre-mine for development support! This will solve our problem of lack of funds and we can pay programmers, designers etc and afford to do all kinds of things that cost money. Otherwise not sure donations would be enough for us to do the job. Objections to a premine usually stem from lack of trust, which I’m sure is an issue that can be solved somehow without throwing out the idea altogether, eg. multisig fund account managed by a voted for list of members. Besides it’s the same trust issue if we would do that only through donations.
• 2. Reduce total count of coins - reasons:
  Being on the ltc market instead of btc means we are dependent on the success of ltc and other cheap coins, and volumes there are always lower than btc meaning lower volumes for us and less success. Personally I believe LTC will be dying and doesn’t really deserve to survive, they have no innovation whatsoever. Regardless, a larger market (BTC) is what we need. current wallets can swap their coins for the new TiPS 2.0 coins to hold the same percentage of total count, then start staking and earning TiPS!

In conclusion: switch to a POS algo (look into NXT algo, other community suggestions) and reduce total number of TiPS. Look into PND who succeeded in both switching to POS and reducing total count.


Further Ideas

• TiPS multipool: people with hardware wanting to earn TiPS and support it can use the pool to mine other coins then sell automatically for TiPS thereby supporting the price and earning TiPS. A part of these earnings on the TiPS multipool would then go to the development fund of TiPS to support further development and all that is needed.
• don’t fear change if it makes sense. 3lit does not indicate any change is coming soon if we don’t do that ourselves.
• similar business minded strategy to karmaShares: “If you have 5 million coins in your wallet, you automatically are a shareholder in the KarmaSHARES LLC business and can earn profits if and when there are any to distribute.” Since we want to be business focussed this would make a lot of sense, the spin-off companies generated here would issue Assets and distribute a good percentage of them to TiPS holders, similar to what BitShares is doing. Or the spin-off companies just pay out a percentage of their earnings to the nodes of TiPS. We could also learn something from how btcd is planning to distribute their network gains to the holders.
• the 5% pa. percentage or so for staking is always generated, if there are less stakers and thus supporters for the network, the total 5% will be distributed to them, thus they will generate more coins for supporting the network.
• TIPS community is what matters! community suggests all kinds of changes and votes on them and implements them. the devs etc must follow what the community wants, we all work to make things better for all.
  
• create a business development fund, it will support business ideas from the community to enable their realization. The fund will be managed also by members with more expertise who can give advice and help those projects to succeed. When the business project then starts, assets are issued and a part goes to the community, another is on the market for further investments to create a starting capital for the business.

Conclusion - TiPS 2.0
- switch from POW to POS?
- Reduce number of coins?
- Change name to TiPS only?
- new blockchain?
- premine for a development fund?
- other suggestions?
- further ideas suggested by members through chats and posts here.


Our Methods

• We are Sirs Tipsalot, keep the love moving and exchange of ideas and tips this will keep the community involved and active which is what we’re about. Make this a meme with a picture of Mr. Tipsalot (in the spirit of Mr. Men) as the theme of our forums.
• A regular "State of TiPS” newsletter, a report from our organization to keep the community up to date and raise awareness about all the things going on in our community, what’s being discussed, what are the future plans of each node etc
• Create games and memes.
• Contributing and being an uplifting spirit in the community is cool and will be rewarded and encouraged through social recognition for example. We can have an honor member of the month etc, best ideas, best posts etc. This will help shape the theme of our community and our methods of work! It will help us create a community of tireless enthusiastic creative individuals, it’s our way of being!
• PR efforts, publishing articles about upcoming things to attract attention and investors.
  what do you think of creating something similar to KarmaShares LLC? it’s a good idea to offer returns on investments in the projects we create. Holders of TiPS can be automatically share holders and be rewarded a part of the profits made through our TIPSshares.
• TiPS is the golden opportunity for a take over and a remake, by devs and investors alike. get 1B TIPS at these prices, and work on the coin to get 100-1000 times ROI in a year! what could be a better motivation for anybody really?

ps. Anonymity features might not be of value on the markets we target, also in the near future with the evolving technology it might become much easier to implement when the time is right. I’m not sure how much anonymity this provides, needs discussion with the devs, and I suggest anonymity should not be on the priority list. On a further note it might make sense for us to integrate with btcd and become a telepod terminal (but not easy and need to be chosen by their devs) since we have a mixing service, which would bring returns to the TiPS community from the planned super network. Or just implement their library in our code and use their API to use the telepod technology for anonymity transfers.

pps. Thanks to mouseman for the fruitful discussions and his long letters regarding TiPS 2.0!

haha I see! this makes more sense :p. (ok guys we need to go back to our golden era in March )
Checked the transaction now, I can only say: Damn You Cryptsyyy . still not confirmed will take them some time I guess. Don't know the reason though (have you guys withdrawn tips recently from cryptsy??).

Please be aware that the vote on the book thread closed on the 16th of March (My partner's birthday)

I have not received a donation yet lol

wow guys, I see FedoraCoin has the third highest ranking after NXT, Particle, and Ultracoin. I thought we were 'very inactive' recently, but those numbers are really encouraging! We just need to wave our hands (on our keyboards I guess) and TiPS can be soon on the top ranking of the Altcoins! Never give up

hey Tyke, I hope you receive the 1m TiPS I kinda forgot to confirm the exchange email for few days but now they must be out. Excited about reading your book!

Hello to all,

I am currently writing the four page section for TIPS in the book called Cryptocurrency "The Alt-ernative" A Beginner's Reference.  


https://bitcointalk.org/index.php?topic=483187.260

TiPS has had a very interesting history so far  

I will post a preview section tonight.  

thanks glad to hear that! yah we need devs and actually TiPS is in a unique stage of it's life with the price so low but potential so high if it gets picked up by a dedicated team. so any dev who has the skills could buy a big stake and increase his investment value by a 100 fold easily in half a year. the search for devs continues so if you have anybody in mind talk to them!


interesting to know that somebody was successful which means it's doable. hey we need to build a team for the Research Node, interested in volunteering? such info are always helpful and then we can look more into how they did it to learn from their experience.
If you look at the excel file 'Brain Of TiPS' you can see what teams we need, so everybody feel free to volunteer and help no matter how little!

hi MuchFlyy, I'm not sure why those coins fell after POS implementation didn't look into them but it might also be due to the fact that all coins have been plummeting in the recent period. If you have an argument why POS would cause the price to fall please let me know! In general terms, I think POS has many benefits as opposed to POW and would help the stability at least in the long run. That's because, with POS the owners of the coin get to support the network instead of the few who own hashing hardware and the multipool which care only about profit and have already hurt us a lot and were a major reason why we fell this deep. And with POS those who believe in the coin and use it will be earning coins, and it makes more sense to me that the bagholders of the coin get rewarded with the new coins, which they usually wouldn't sell, instead of hardware owners getting these coins (wasting a lot of energy and costs), laying a selling pressure on the market and hurting the bagholders.
And on lowering the maximum count of TiPS, the reasoning behind this is for us to be on the btc market instead of the ltc market, so we would have access to a larger market with more volume. I think this would just help the coin reach its potential more easily. The currently available coins in the wallets would get swapped for the new TiPS 2.0 coins, so let's say we would create a new block chain for it, then the addresses on the old chain can send their coins to a given address where the coins get burned, and the owner gets a proportionate amount of the new coins. I believe other coins have done it or are in the process of doing it, so it seems like a safe and viable option.
About the donations I'm not sure, I guess we need to have the devs first who preferably can buy their own stake in TiPS to get invested so that not much donations are needed. It seems that a 10% donation from bagholders is a number all (those who commented) agreed upon, and I think we can create a multipool after switching to POS where those of us who have hardware can mine other coins and sell them to buy tips thereby supporting the price instead of dumping! and then a portion of the pool gains gets donated to the development fund.
Does that make sense?

PND coin has done it succesfully so far, by reducing the number of coins and switching to POS, but they do have a dedicated dev team.

You are doing an amazing job to revive this coin and is much appreciated.
We still need some interested devs to carry this coin forward as new features could be the only thing which can stir interest.

id10tothe9
Nice to see that someone is still looking after TIPS.
What will happen to the current coins in wallets if we switch to the POS?
There isn't any demand on TIPS right now, switching to POS might completely kill the coin. As with MINT, ZEIT and RDD, prices creeped down after POS implementation.
Lowering maximum TIPS might cause a short lived price spike, benefiting bag holders such as myself, but I don't see it benefiting the coin.
I believe the only way TIPS can be picked up by merchants or community is stable price, I haven't given this much thought but stacking TIPS against a $ value would be better than exchanging it into BTC, LTC or DOGE.
How much do we need to raise in TIPS donations to get the project moving?

I'm now refining a proposal to create TiPS 2.0.
it will be basically about switching to a POS algo, reduce total number of TiPS to get on the btc market and a few suggestions to support our needed development fund. and a few other things.
You can join me editing the file in the "2. Strategic ThinkTank" folder, or just post something to let me know there is still interest and motivate me to do the job!

icanprogram, can you contact invisibel and ask him if he's interested in rejoining TiPS as a main dev?

Ok so I went through the files we have till now on gdrive, reorganised and edited the contents as far as I could for now. Some further work needs to be done but for that I need help from you guys! so feel free to check them out and do your magic Here is the structure we have so far (underlined are file holders, tilted are the documents):

All About Tips - Public Folder:

• 1. Organizer
• 2. TiPS Plan
• 3. Brain of TiPS
• 4. Urgent ToDo List
• 1. Ideas Suggested
• 2. Strategic ThinkTank
• 3. Official
• 4. Treasure Chest
• 5. Temp
• 6. Misc
• 7. Projects

About the first 4 documents:

• "1.Organizer" is intended as an explanation for the gdrive files and the contents of it. Also has a cool introduction for new members to know what TiPS is all about! Let me know if you like it and if you have suggestions. I put the text also as a description of the main file which you can read on the right hand side panel. The contents can be explained through my post here mostly, I can do it when I get the time, or maybe somebody is feeling up to the task
• "2. TiPS Plan" lists the next three steps we need to do in order to start up! Additionally it lists a number of issues we need to discuss here and make decisions about. Finally it includes a list of the proposed "Business" projects that the community can take up and start creating (with the original owner of the idea of course! we still want to protect intellectual property by acknowledging the creator and collaborating with him/her on building the project thereby becoming partners for the benefit of all).
• "3. Brain of TiPS" is the structure of the organization I propose that we make in order to have distributed tasks and a "Brain" of the community through which all ideas flow and come together then get directed in a coordinated way and acted upon. the community is just the extension of the nervous system from which the impulses come and ideas, to meet with the other impulses, get processed, then commands going out again to be carried out ha! while it takes the form of a central entity, it's actually just the concentration needed for those nerves to be able to interact and create something new. At the same time, members on this "Brain" structure can be voted in and out by the community itself.
  so this file is just an excel file with a list of "nodes", if you like this name, with each node specializing in a needed area. eg. dev node, marketing node, thinktank node, PR node, research node etc. each of them will consist of a number of members from the community who volunteer to take up that responsibility. Each node will have one of its members (called 'node coordinator') responsible also of communication with the community and the other nodes' coordinators. think about those categories and let me know if you have any suggestions to change them. Also each node will have an input channel where members of the community can send their ideas, suggestions etc which are related to the speciality of that node. Also to solve one of the issues we have, which is work needs to be rewarded, one of the suggestions in the list of issues is to create a multipool which mines other coins and sells them to buy TiPS thereby supporting the buy level of the coin (I must admit I stole this cool idea from the btcd community ). I'm assuming here that we will switch to a POS algo. Then part of those tips earned can be directed to the 'Brain Fund' from which the active node members get paid. As long as the community likes your work and keeps voting you on the node list, this means you are doing a good job and deserve to earn those tips.
• "4. Urgent ToDo List" is self explanatory and we have 4 things listed in there!

Now to the other files in the main file:
1. Ideas Suggested includes

• Ideas Suggested: where I added all the ideas that were suggested in the discussions we had since mid July
• Ideas for code changes: further ideas that we could use to modify our code
• Old Ideas: a list of ideas I wrote back in march
• and other two old files: another list of old ideas I wrote and still need sorting through and adding to the main list we have

currently the files are all public, so anybody can write and contribute. In case at some point in the future we get too much chaos and contributions being done in the wrong places or whatever (which would be a great thing if we were getting all that contribution), then we can make the access of editing only for the members on the nodes list, while other members can contribute just as well through the suggest option. in that case what they write gets highlighted as a suggestion to be put in the right place by one of the editors.
The first file is the most important file, and this is where any idea from the community gets noted just to avoid it being forgotten as very often happened back in the beginning this year where we had the crazy activity going on here and the ideas just got covered by pages and pages of posts so no action could take place. This way we save the ideas of value and make sure to always empty this list, so take these ideas out one after the other, discuss and decide then delete when done. the other files still need some cleaning up, and maybe getting all the ideas together in one place. Anybody feeling up to this task?

2. Strategic ThinkTank

• Basic points to our strategy:includes four important lists:
  1. our goals: we need to discuss what markets we want to target etc, there is a link to a previous good post about that from which we can start discussion. the list can be expanded if you have ideas.
  2. current strengths of TiPS: what do we have going for us and should make good use of? I used the things already posted here by somebody previously.
  3. Our Methods: the general strategies and ways of how we should operate, as a community and as the Brain should do, eg. nurture a generous tipping culture, regular news letters from devs and other nodes on current progress and next steps, PR relations, memes etc.
  4. Fundamental changes for a new start: this is a very important list and I need to put it in a separate post. basically what suggestions have been made on changes to our code and maybe forking it, eg. switch to POS or NXT similar algo, reduce the number of coins so we can trade on the btc market etc! We need to discuss this very soon and get it done with!
• How to organize our community: this discusses the 'Brain of TiPS' structure I talked about and the tools we could use to have better communication and task management. eg using trello for task management, and different apps available to notify community members about new changes in the gdrive files or new tasks etc, those are all tools that are already available. If somebody knows some useful tools post them here to add to the list! I'll put what I have in another post so we can choose and decide on what to use.

3. Official
This will include all official stuff like the thread text in different languages, pics and logo, a list of current threads etc and probably should move the 'Brain of TiPS' list there too.

4. Treasure Chest
It has a post made by Invisibel explaining about the mixing service he created. Later all such important core things, code related stuff etc can be put there. It's meant to be a place for the important things to TiPS.

5. Temp
Will be a place holder for stuff we need to do temporarily. eg. right now it has a list of questions somebody posted and we need to answer them as part of the discussion to know what to do next. It's on the task list for the community, so anybody who can please check it and try to help! I think we will have a trello board extra for the community itself so you can create new tasks and work on them voluntarily as a community to get more work done!

6. Misc
includes a file of pics I gathered over time since I found them really cool and can be useful for tips, we can put all kind of stuff there that doesn't fit elsewhere.

and finally 7. Projects
we have 2 candidate business proposals right now, one for a worldwide service that helps merchants start accepting TiPS as just tips from customers when they buy stuff, turning that into the merchants giving out TiPS as paper wallets we fund as bonus points for the customers and later on as a payment method which I proposed some time ago. the other one is the 'Tip The Champion' game for online and apps as proposed by Senator51 which I think is a really cool idea. Anybody who has a project proposal can create a new file and describe the idea there, and with time through the community's work together, the idea can evolve into a solid business plan that we can then create together. (Sure at some point will have its own file with all related documents inside). Well as you see I'm proposing open source collaboration here, but if some ideas need to be kept a secret for a while or a closed group from the community decide to work together just go ahead, and hopefully with the time our platforms will evolve to enable such features. maybe a dedicated forum that allows closed categories that require a password. Ok actually 3 proposals , just added TiPS4tips which you already know as the facebook tipping group we have. Only it was just as a test bed to see how things go for this idea. What I have in mind is a webpage and a related app (which is more important I think) which does the same thing as Yahoo Answers, or Stack Exchange, only when a person asks a question they can set a bounty for the best answers, then people can give their answers and the best voted ones share the bounty. People already do that for no financial gains, I think when bounties are a bonus this would get more traffic and some people might use it to actually earn money through their expertise in some areas. Imagine what informatics etc experts in India or other poor countries can do with their cheap Android phone they are getting soon with free internet connection through google balloons etc to earn money answering questions from their homes.. We have unimaginable potential here for new businesses that never existed before, anyone from us, with no money but cool ideas and hard work can become a millionaire sooner than he/she thinks!

I created a Trello group here. Few boards now, but more to be added soon. But we need to fill the nodes positions with volunteers, so anybody feeling like becoming an active member?

just sent 1m TiPS, thanks for your efforts and wish you good luck!
I'll PM you our final results when we come up with TiPS 2.0!

Ok guys, thanks a lot again for your trust to let me handle the fund. I can set up an address on my wallet and create a strong password to make it safe, is that the best way to go? Or maybe I should create a cold wallet (need some help with that). again if there are any other methods to make it more secure, and trustworthy let me know. Maybe I can do this in the beginning until we modify the code and include a multi-sig feature, in which case we will have a 'Fund Management' team with the multi-sig and the fund can be spent only in consensus of those members after the community votes.

we still need a lead dev and contacting devs we think might be interested. if you have somebody in mind or know body sure text them or post here so that I or somebody can contact them. (ultron are you still interested in joining the dev team?)

Current list of donations as documented by thiec:
$dakini = 10m
RJF = 1m + 9m
thiec = 2m + 1m
Triffin = 3m
dimke_yu = 5m
id10tothe9 = 20m
mouseman = 10m

(Sum = 61m TiPS )
and I guess more will come when we start working!

Bag holder / Potential to donate :
Catanonia = 2b (2,000m)