Topic: [ANN] ORA :: NXT 'monetary system' currency - page 122. (Read 181214 times)

I'm confident people will be trading Kora tokens on the NXT AE within 6 weeks.

Between now and then there's a lot of things we can do. I've been thinking of other successful coin communities I am aware of, and I'm trying to distil what makes those coins & their communities successful.

What made Tenebrix & Fairbrix fail, and Litecoin succeed?  Remember, Litecoin came AFTER Tenebrix & Fairbrix, so sometimes the first mover isn't the one to survive and thrive, and it's not just about the tech either (Litecoin & Tenebrix/Fairbrix were all scrypt based)!

What gave Litecoin the X-factor?

Obviously a major part of the answer comes from understanding the 'community' - the people involved with the coin - what they were doing, and how they were motivated. I want to learn the lessons from all previous coins so we can make Kora successful, like Litecoin.

Some argue that people will not value something that they receive for free, and that's why recent 100% POS coins that have been given away free (Coffeecoin, ShareCoin, EnergyCoin, CommunityCoin, InformationCoin etc etc) will all struggle to survive as the stakeholders (and the dev) don't care enough to do what is necessary to survive in a competitive market.

I want to explore these issues. Will a Qora stakeholder who paid for their stake be more active than a Kora stakeholder who got theirs free? Will Kora find 'leaders' to guide Kora in the future if everyone has an equal stake?

One idea I'm toying with is holding an amount of Kora in trust (maybe 25%) for bounty rewards that the community votes on periodically. I've observed a few communites, and I see that most of the time the majority of tasks are performed by a small number of people. If we have a bounty fund, the community could vote to reward these big contributors. It's just an idea!

Please feel free to make comments and suggestions, and help shape Kora

when will this coin launch?

Thanks for that suggestion! We will definitely put together a set of registration rules that aims to prevent multiple account abuse, and registration date for bitcointalk users is an option. Ideally we will be doing some marketing further afield too, so some users will be coming from sites other than this one.

Really interrested in this

Those points are valid & relevant to Litecoin (fairness, wide distribution etc), but the most striking thing to me about the Litecoin announcement post when I first read it was litecoin wasn't the first scrypt based coin. Litecoin is the recognised 'silver' to bitcoin, and has a market cap over 300 million USD as of today (over x6 the cap of the third placed coin), BUT LITECOIN WASN'T THE FIRST SCRYPT COIN.

Litecoin achieved massive success based on execution, not based on being first. In the Litecoin announcement post Charlie Lee pays tribute to the developer of scrypt


So what you said is true - Litecoin didn't have a pre-mine, and the dev was concerned with issues like fairness, and other issues too, and all of those factors , (and some others that I'd like to discover & discuss in this thread) combined to give Litcoin the 'x-factor' that made it hugely successful, EVEN THOUGH IT WASN'T THE FIRST

Execution of the idea is so important.

Kora wont be the first coin based on the Qora dev's code, but if we establish a great community, and we 'execute' the necessary steps well, Kora can definitely be very successful, and even more successful that Qora.

I honesty hope Qora is successful too, and the presence of Kora will keep them on their toes. By all means if you can afford to buy a little Qora it is worth considering, but remember, just because Kora will follow Qora doesn't mean Qora will necessarily be the 'big boy'.

Kora will have a very fair & wide distribution, and if we create a great active community, and we 'execute' all the steps required to bootstrap a coin with excellence, then I'm very confident Kora can be very rewarding for all involved.

no ,it still can not stop it , you can add a  rule that all investor should registered before two or three month ago.

If you want to have 3000 loyal stake holders,than it's going to be tough.People now a days are just trying to make some quick money from free distributed coins.Only the earlier ones succeeded with this idea.You have to bring something unique like a new type of coding or technology implementation.As you may have see DRK value increased suddenly with their new anonymous transaction implementation.Brain storm first don't launch quickly and end up like others.

You mean the difference between pre-mined (or IPO'ed...) launch and a wide-spread one (which I exactly meant above)?

Have a look at the description for Tenebrix & Fairbrix. What type of coin were they?

I think Fairbrix might still be alive in a very limited capacity in the crypto backwaters, but I'm pretty sure Tenebrix is effectively dead.

Fair, wide launch?

Crypto triva
Here is the original announcement thread for Litecoin from October 2011 posted by Charles Lee.

https://bitcointalksearch.org/topic/ann-litecoin-a-lite-version-of-bitcoin-launched-47417

There's something amazing about the above post.

Can you see it? Many people new to crypto currencies may not know about this truly amazing fact about Litecoin.

The 'fact' about Litecoin I refer to should be clearly visible to most people in about 30 seconds, and it's one of the most interesting insights from recent crypto currency history, and I think many people don't know it. 

When you understand the implications of this amazing fact about Litecoin, you'll appreciate what I'm trying to do with Kora.

Can you see it?

interesting coin, keep eye on it for further update

good news, we will see 

i'm having deja vu

Great news!! Mac Red has accepted the bounty to develop the Kora registration system. We're going to take our time and get this right, but we're hoping to launch the registration in about 4-5 weeks. We've got plenty to work out to make this the best and fairest POS registration system in crypto history!

Lots to do, but it wont be long before Kora is traded on the NXT AE!

Hi dev,

good idea and interesting Free&Fair distribution

do you have some dates for Kora?

we should work hard for getting coin
so we are not easy to let it go

Really interrested in this. Keep me updated.

Interested


ps: Even you find ~1000 stakeholder would be nice. 3000 (without sockpuppets) i don´t know

Hey,,i want this too...