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Topic: [ANN] Levelcoin - Proof of Stake / Proof of Burn Hybrid - Inflation Immune - page 20. (Read 44847 times)

sr. member
Activity: 448
Merit: 250
black swan hunter
I believe that language is fine - remember it's only a low level, and can be always extended by higher level UI and services.

What more worries me, is that OP does not respond regarding any additional transparency or evidence requests.

Yes, clarifying ID with verification would really help move things along. This is for the benefit of David Elsinger as well, to determine that he really is the person soliciting funds and founding this project.
hero member
Activity: 756
Merit: 502
I believe that language is fine - remember it's only a low level, and can be always extended by higher level UI and services.

What more worries me, is that OP does not respond regarding any additional transparency or evidence requests.
sr. member
Activity: 448
Merit: 250
black swan hunter
Aside from the ID issue, until something is delivered we have know way to know whether this guy can code to save his life.  No notable previous projects, etc.

Also... C?  Really?  I could understand C++, but C.... ?



I'm fine with him hiring others to do the code with him acting as project manager to oversee it, but it should be open source for the community to vet it.
newbie
Activity: 17
Merit: 0
Aside from the ID issue, until something is delivered we have know way to know whether this guy can code to save his life.  No notable previous projects, etc.

Also... C?  Really?  I could understand C++, but C.... ?


What's wrong with C? Its still one of the most popular languages in exsistence and has benefits over C++..

Given the kinds of things Bitcoin needs to do, it also seems to me that doing it in C would be a big disadvantage.

given that C++ is a superset of C, I really don't see any benefit of C over C++ for a complicated bit of software like a crypto-currency...

If you do it in C you are not able to use Boost and other helpful C++ libraries.

Bitcoin was written in C++ and leverages these libraries, probably for a good reason.

So, I think xibeijan is spot on.


Visa/MasterCard still leverage the power and speed of C written in the 80s and able to process 24,000 transactions per second.
newbie
Activity: 15
Merit: 0
Aside from the ID issue, until something is delivered we have know way to know whether this guy can code to save his life.  No notable previous projects, etc.

Also... C?  Really?  I could understand C++, but C.... ?


What's wrong with C? Its still one of the most popular languages in exsistence and has benefits over C++..

Given the kinds of things Bitcoin needs to do, it also seems to me that doing it in C would be a big disadvantage.

given that C++ is a superset of C, I really don't see any benefit of C over C++ for a complicated bit of software like a crypto-currency...

If you do it in C you are not able to use Boost and other helpful C++ libraries.

Bitcoin was written in C++ and leverages these libraries, probably for a good reason.

So, I think xibeijan is spot on.
hero member
Activity: 644
Merit: 500
Hmm, with this concept in long-term relative weight of big stakeholder in system will grow (bigger and bigger % of new coins per any timeframe will go to one hands by creatingLV1(+5%)/burningLV1(+25%)), and it's not a very good thing. Let's wait, how it'll roll out (if).
hero member
Activity: 756
Merit: 502
What's wrong with C? Its still one of the most popular languages in exsistence and has benefits over C++..

+1, but you have to be experienced enough in order to create an extendable and maintainable code.

I can point quite some open-source projects that evolve much slower then they should be, due to these exact issues.
legendary
Activity: 2408
Merit: 1004
any news of the code
please
hero member
Activity: 910
Merit: 1000
Aside from the ID issue, until something is delivered we have know way to know whether this guy can code to save his life.  No notable previous projects, etc.

Also... C?  Really?  I could understand C++, but C.... ?


What's wrong with C? Its still one of the most popular languages in exsistence and has benefits over C++..
hero member
Activity: 756
Merit: 502
I expect to have the client itself complete by launch which is on the 31st.
The rest of the resources including continued development depend on the funding amounts.
The more funding the longer I will work as a dev.

Imho if you increase the transparency just a bit (like said facebook posting), or reduce the risks a bit (prepare plan, release early binary, release video), you will have much easier time raising more funds.

I'm on the fence exactly due to reasons above, and I'm sure that many others too.
sr. member
Activity: 364
Merit: 250
Super Smash Bros. Ultimate Available Now!
I think that if you post some innocent status update on Facebook (like "Moving on with my pet project Smiley"), and then reference it here, it will be enough for the most people here.

@Level Coin: Would you please do this so we could tie up the identity issue? I'd like to invest once this is settled, but things are kind of up in the air now.

Thanks

same here, one post on the fb page and ill send my bitcoins without worries.
legendary
Activity: 1232
Merit: 1001
Aside from the ID issue, until something is delivered we have know way to know whether this guy can code to save his life.  No notable previous projects, etc.

Also... C?  Really?  I could understand C++, but C.... ?

hero member
Activity: 966
Merit: 501
I think that if you post some innocent status update on Facebook (like "Moving on with my pet project Smiley"), and then reference it here, it will be enough for the most people here.

@Level Coin: Would you please do this so we could tie up the identity issue? I'd like to invest once this is settled, but things are kind of up in the air now.

Thanks

sure, much more fund can be raised after this, and Levelcoin will have a big chance to succeed.
sr. member
Activity: 448
Merit: 250
black swan hunter
I think that if you post some innocent status update on Facebook (like "Moving on with my pet project Smiley"), and then reference it here, it will be enough for the most people here.

@Level Coin: Would you please do this so we could tie up the identity issue? I'd like to invest once this is settled, but things are kind of up in the air now.

Thanks
rnr
sr. member
Activity: 247
Merit: 250
hero member
Activity: 966
Merit: 501
It is noticed that most guys here are Nxt supporters, so am I.
It is not a coincidence, because Nxt supporters are sensitive to true innovation.
Interesting Idea, sure to invest while I learn a little more about it.
newbie
Activity: 28
Merit: 0
@Levelcoin

Please, in your own interest:

a) Ask for an/few trustfully and well known member(s) of this board for let check your already existing code via teamviewer (for example) on your computer. After that the member(s) should proof it in this thread.

b) Make it more clear on the first page that you need the initial funding for the further development of your idea.

c) Make an google-docs spread sheet with the "bounties" and project/software steps (INCLUDING the offered rewards in BTC or LTC) which are needed to develop and provide the link.
My suggestions:
    - Whitepaper
    - GUI for your client
    - Code review and help with the source code
    - Homepage
    - Logo
    - Escrow service fee

d) After c) we will see the necessary of the funding and everybody, also you, get an overview of the milestones AND you can ask an trustfully member of this board for escrow service (BTC < > work).

e) In my eyes it´s impossible to provide an escrow service for the IPO and initial fundraising because you need money/BTC for the development upfront (no BTC to your hands > no development > no levelcoins).



I think that will attract more funding. I can´t find any bad intention to ask about funding of development of an idea. But, if you use that kind of IPO you should provide an "business plan" with your milestones and rewards for help. That will show to everybody that you are willing to use the investments for the development.

Just my 2 cents ;-)


EDIT: c) will also attract developers and a community for your project. Maybe people also think that you are far away from an release candidate with your current project status. That fact will change with an active community and cooperative developers. And, don´t forget your reward, that´s also legit!

I like these ideas and they make sense to me. I will try to work on the points that you have made.
rnr
sr. member
Activity: 247
Merit: 250
@Levelcoin

Please, in your own interest:

a) Ask for an/few trustfully and well known member(s) of this board for let check your already existing code via teamviewer (for example) on your computer. After that the member(s) should proof it in this thread.

b) Make it more clear on the first page that you need the initial funding for the further development of your idea.

c) Make an google-docs spread sheet with the "bounties" and project/software steps (INCLUDING the offered rewards in BTC or LTC) which are needed to develop and provide the link.
My suggestions:
    - Whitepaper
    - GUI for your client
    - Code review and help with the source code
    - Homepage
    - Logo
    - Escrow service fee

d) After c) we will see the necessary of the funding and everybody, also you, get an overview of the milestones AND you can ask an trustfully member of this board for escrow service (BTC < > work).

e) In my eyes it´s impossible to provide an escrow service for the IPO and initial fundraising because you need money/BTC for the development upfront (no BTC to your hands > no development > no levelcoins).



I think that will attract more funding. I can´t find any bad intention to ask about funding of development of an idea. But, if you use that kind of IPO you should provide an "business plan" with your milestones and rewards for help. That will show to everybody that you are willing to use the investments for the development.

Just my 2 cents ;-)


EDIT: c) will also attract developers and a community for your project. Maybe people also think that you are far away from an release candidate with your current project status. That fact will change with an active community and cooperative developers. And, don´t forget your reward, that´s also legit!
newbie
Activity: 28
Merit: 0
Would you release the coin at launch to the investors? Also, why would you continue the IPO even after the coin is created? I dont see any necessary expenses after the dev. of the coin?

Yes the coin will be released to investors. Depending on the amount invested before launch, there may be no continued IPO. It all depends on how much is distributed.
If that is the case, then investors of the direct fundraiser will have a couple of weeks to get familiar with the software before anyone else.
Logging into the client will require a founder username/password to prevent the client from being leaked to non founders. The additional funds will be used in further development and for a USD/LV1 exchange.
sr. member
Activity: 350
Merit: 250
Vires in Numeris
LOL you again, seriously you never shut the fuck up about BTC bound proof of burn do you?

Interesting idea.
But I guess I'm out.
Good riddance.


Quote
Why starting an IPO now? You should have wait you finished your code.
Let everyone test on testnet, then lunch the IPO.
You want this to be a huge success? give the money back to everyone, and come back with a finished product for all to test.
I slightly agree, but he already mentioned that he might do a refund, so your point is moot.

Quote
And seriously reconsider PoB to get LVL1, mister open to suggestion...
No fuck off with that, open to suggestions doesn't mean apply everything that is asked. Can't you understand he doesn't want Levelcoin to be linked to other altcoins?
If Bitcoin ever collapses in the wake of a much superior competing currency, then tag along PoB coins like XCP will be made worthless.

Quote
You intend to have no LVLcoin yourself? That's doubtful.
How convenient to send 5 BTC to yourself...
This reason alone is why PoB is needed. Even if I trusted you.
No proof, FUD

Quote
Switching 4yr to 2yr for ROI is a tiny improvement.
I feel better with 1yr, but to each his thoughts.
I agree

Quote
You just killed my enthusiasm with your idea to make LVL2 generation decreasing, to even stop.
That's a huge risk, and you kill most of it's reward.
No one wants you here. Besides, he was only asking for feedback on the idea, I doubt he already implemented it.

Quote
And I repeat myself because I think it is needed:
Reconsider PoB.
With it your project would certainly sky-rocket.
Or at least consider giving these pseudoburn to Sean Outpost or another alike.
Your greed to take benef at start doesn't create desire to join.
He has lit a beacon of light with actual great ideas that can only further crypto in a day where shitclones are spewed hourly and yet you call him greedy when he has received less than 4 BTC, with one of them being mine. You're a joke. There are people that ONLY go to giveaways. Here is an example https://bitcointalksearch.org/user/angie-122300. If you want to complain about greed, go complain to those people. None of them ever contribute anything and probably make more than the OP has.

Quote
You want reward?
make your idea concrete, have everyone test it, invest your own money like everyone else, and then continue with everyone to promote it so that your LVL1 win value.

Personally if I were him, I wouldn't sell you any coins, ever. Regardless of what changes are made.
You do nothing but bash EVERY SINGLE COIN that does not include a PoB system that is EXACTLY like XCP.
I know why you do it to, the reason you do it is because you KNOW that no one will be exactly like XCP. Want to know why? Because XCP sucks my fat left nut.
I'd even be willing to bet that the moment you get a coin that is an exact clone of XCP, you would bitch about how there is no point in using it since XCP already exists.
Destroying Bitcoins is harmful to the economic ecosystem and only promotes BTC holders, not to mention that he will receive no funding and we will be back at square one.
The devs idea and implementation of both PoS and PoB looks absolutely incredible to me and far superior to XCP. I don't see XCP on any exchanges, do you?
The only drawback is that it has a small chance of being a scam, but most scammers are idiots though looking for a quick buck without thinking too much.


That was even more negative than his post.
He had valid concerns and was stating his opinion on the matter.
Why did you have to be a dick about it?
And the only drawback is it might be a scam is a HUGE drawback. Saying that scammers are stupid is illogical, because scammers have to be smarter than a lot of people to actually pull off a scam.
I'm giving the dev the benefit of the doubt here, but it doesn't mean that everyone is obligated to as well.
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