Topic: [ANN] OCTO - Resurrect 888 - New Counterparty Asset - page 27. (Read 37816 times)

Just to confirm Kris, we will be working on setting up OCTO for merged folding beginning Monday as the first day (so Monday 12:01AM) that one could earn OCTO via the mining method.

So today we will need a final decision on the amount of coins per day that OCTO plans on dispersing. You can always change it later and you do not necessarily need a halfing methodology yet, you can still decide that with your community. But in order for the calculations to take place, we need a final daily number.

For the rest of the community:

There are two easy steps to take in order to start earning OCTO in addition to FLDC and the rest of the merged folding family. Please follow these two steps to get going:

• Step 1. Setup a wallet http://foldingcoin.net/counterparty-guides/#wallet
• Step 2. Setup your FAH client http://foldingcoin.net/windows-guides/#setup

Please email me [email protected] with any questions or concerns. Make sure you use the "username_ALL_CPaddress" style username

correcto.

guys, we really need to start thinking next step. we need opinions on the merged mining distribution. mining gives everyone a chance to use their GPU and CPU, no asics, and donate to a good cause to receive OCTO. it needs to be a good size of the coin and for a semi-long term. i personally have decided that 8 years is a good time. crypto will change so much, so who knows even in 8 years where we will be. we can do it for longer if the community wants. you can even set it up to just keep halving an kinda mine forever. i'm not sure what the best way is. i was originally thinking about a split between burn/mining/crowd sale/other as a 20/20/20/28.8 as a basic theory. however, we didn't know what the burn total would be. i was even scared that it would reach in the 30-40 million range in which it would be hard not to give a equal sale amount. it's safe to say at this point we prolly won't even hit close to 30. it gives us more flexibility. if we do a 15 burn then you could think more in line with 15burn/15crowdsale1/15crowdsale2/25mining/18.8million other.

the crowd sales would fund projects. the first project i'm already laying out. the second project, honestly, i'm hoping that  someone else will come along with a great idea the community wants to see and we rally around them and raise some money for them to make it happen. now one thing that's important to remember, to keep funding more projects after the crowd sales we will have to establish funds for future projects past 2. so they have to be good ideas that can make profits and keep the wheel of projects turning. i think this first project will be a good money maker. but project 2 has to be something that can spurn funding as well. if we keep a % of profits out to fund projects between 2 profitable projects we may be able to fund at least 1 new project a year and maybe more that would be awesome to grow and supply jobs. if the first project is successful, it should keep a few people working full time.

another thing to consider is the other section of distribution. other will include payouts to other counterparty asset holders as advertising, payouts to community for bounties, payouts to developers, sponsorships, etc.

one really bright note: of the coins i am burning, 250,000 was donated to me anonymously with the instruction to set up a developers fund. so out of the total burn amount, we already have a large amount to the devs without even distributing new OCTO for that purpose. we will post the address that hosts the developers fund and i'm sure more in the OCTO community will donate some small amounts over time. but some will have to come from the OCTO distribution.

if we just use the example of 25 million by 8 years for FoldingCoin merged mining:

3,125,000 per year
260,416 per month
60,096.1538 per week
8,585.16484 per day
357.715201 per hour

that's an even distribution. we could set it up over an 8 year period however we like. we could reward these early miners with a slightly larger payout. we could set it up to halve every year until 8 years is up. we have lots of options.

i am looking for community input on this. as burners and the original community we have the power to decide the distribution. remember, longer period and slower builds the total available slowly as the number of people begin to use OCTO.

just so we're clear, that's the last minute of Sunday night. about 36 hours away

I'm catching the follow up this morning before I head to work.

http://dogecoindark.net/radio/archives.html

don't forget. it's the 7th. today and tomorrow are it for the burn? any guesses on the total number? we are sitting just under 10 million this morning. how many big holders are left? another 10 million? 5 million? 25 million? we will see by 11:59 pm est on the 8th

It does appear to be split time with syscoin as well, but thats ok, just call in to ask us questions

you guys should check this out. if you haven't seen the first one, it was a very good show as well. first one is on youtube. i'm sure this one will be posted on youtube if you miss it live

thx peeps! have you burned your coins yet?

We are now live on Dogedradio http://dogecoindark.net/radio/ and we will be plugging OCTO

Thanks! It will do for now. I would prefer we get a legit designer to contribute to the site. I think there will be a bounty put on that soon.

I just need to figure out how to set someone up as a contributor and give them the permissions to edit. Then all I'll have to do is supply them content to update with.

The good thing is Squarspace has awesome tutorials and FAQs

Sorry i have been away for a little bit, had some FLDC stuff that kept me busy. I just got caught up on the conversation and it looks like in general the burn process is going good. We have about 2 days until the burn, and i will be up at midnight on the day of the burn to help go through all of the statistics. Let me know if you need anything from me octo community

Site looks great Kris!

meh. still confused. I just sent another test tx to the burn address (0.44444444). the input address doesnt match my first test tx or any of the send or receive addresses in my wallet.

i guess i'll just send you tx id's when I burn so you can confirm. It will be two transactions since i'm over 50K Octo.

yeah. hindsight. 

Now that you have all of your coins in one address; you could send them to the address that you submitted on the form, and from there to the burn address. This will help eliminate any mix-ups in the distribution.

This is one of the reasons that I suggested using an auto-responder service... People who had submitted their info to the list could have clicked a link from their sign up email and updated their information in their accounts, if needed... but someone decided not to go that route...   

we can correct the google form. just let us know the octo address, amount burned and Counterwallet address. email us at [email protected] with the info unless Robert says otherwise

Ok I am going to create a new address in my wallet and send all my coins there.  Then I'll start sending them to the burn address.  So the address I have on the google form won't be correct. 

Yep you are right, sorry if I missed the answer earlier in thread all the coins I sent to test address are now able to send in 1 chunk(860,000+).  Last question! Should I email you new octo wallet address(to replace old one) or just resubmit the form?

gw is correct. and honestly you should be able to get them all to one address sending chunks at a time, but if you can't i don't think it's that big of a deal. it would make it easier on us as far as managing it from one address. however, robert did say as long as you are using the same Counterwallet address for each different octocoin address transaction to the burn address, it will work because it will still pull all those transactions together by the similar Counterwallet address. Either way you will only receive one transaction back for all of your OCTO to 1 Counterwallet address. It just means when we have issues and are sifting through transactions to the burn address we won't have to go through as many.