Topic: [ANN] SpreadCoin | True Decentralization (No Pools) | Testing New Masternodes - page 43. (Read 810076 times)

+1 for a new ANN. If georgem could PM me a date when the new ANN will be made, I'd be glad to contribute a few graphics to the ANN, by that specified date.

EDIT: As new investors visit the current ANN, they are welcomed by broken links and un-updated information. I think we should get a new ANN asap

I hope that when the new Ann is created we can transfer these ideas over to it. I have never seen a coin with so much contribution to the idea pool. I really wish we could push the new Ann out so that we can start adding to it.

That's pretty sweet.

Infographics for a roadmap and also for an easy guide to servicenode apps / app store would be great. Let's see what everyone else thinks. Georgem has some great skills in that area too:



With a solid team, we can get to $10m easy.  At these price levels, that could make a ton for those contributing 

Everyone is bouncing around looking for that next big project. Well, this is the memo: this is that next big project.

Nice

I'm willing to work on the dev team for community management and marketing. I just need to be accepted by you guys onto the team

EDIT: Also capable of creating 3D logos, infographics, and other graphics related things. An example of my work can be found in my profile picture

Devs
Georgem
gjhiggins
elbandi
Gladimor (TBC)
A-Russo
MrSpread (MIA)


Technical & Occasional
e1ghtSpace
chrysophylax
Chup
thelonecrouton

Support and project development contributors
Minerpage
njs811
defunctec
Coins101
AnotherNode
MyFarm (MIA)

Let me know if you want to be added, removed, re-allocated from the above.


Others: Private pools / mining

Ocminer - https://bitcointalksearch.org/topic/m.10921076
nonce-pool

Optimized miner (fees apply) - WolfO https://bitcointalksearch.org/user/wolf0-80740


Updates of note

* Defining the high level vision for servicenodes - https://bitcointalksearch.org/topic/m.10971161

* New wallets, 32 bit compiled from github and update provided by Georgem here - https://bitcointalksearch.org/topic/m.10949986

* New ANN thread & website - update on progress by Georgem here https://bitcointalksearch.org/topic/m.10953553

* A-russo new website and Spreadcoin heartbeat web app - spreadcoin.us

* A-russo twitter campaign - give away report https://bitcointalksearch.org/topic/m.10961049

* A-russo, defunctec, Coins101 - reviewing new twitter campaign and give aways. ~1000 SPR funding provided.
 
* Minerpage, researching other projects to ensure initial servicenode apps meet demand needs, improve on what is available, spot gaps in the market and highlighting mistakes to avoid (actual projects being reviewed done through PMs)

* New active project members to be announced when they are ready ~ end April / May

* Spread general business overview, including SWOT analysis, survey of apps to start working on, research on value of target markets for commercial applications - work in progress https://bitcointalksearch.org/topic/m.10656234

* Discussions with other projects - devs to consider the approaches that have been made. Possible feedback at end of April.

* njs811, Coins101 to write up PR articles to co-ordinate around release of new ANN and website. List of media outlets and journalist contacts obtained.

* Coins101 - potential tax efficient framework for investors to invest in development of servicenode apps identified. Review of how investors can obtain commercial benefits while working with open source software underway. https://bitcointalksearch.org/topic/m.10979766

* Regular updates initiated for various reasons, including to help with discussions with Cryptsy

Something needs fixing? post or PM.

tl;dr

Spread to the moon ($10m)

Dejavu, just few days ago was thinking about starting something like #spreadcoin #dailydigest for those, who find it difficult to track things or are not yet inside the loop.

I am sure, by mutual assistance we will workout something benefitial for the Spreadcoin.

Cheers,
A-russo

I will be doing a weekly roundup later. PM any updates you want to include.

Will try and make this a weekly / 10 day update from now on.

3Bs (Blockchain Based Business).

That sounds pretty cool.  I think that would look great as a soundbite in some PR articles.

But, I'm not sure that's what I was thinking, exactly. Obviously the blockchain needs to be part of the equation, but the servicenodes are the processors of specific applications. Which servicenode(s) do the work required of them does need to be spread (pun intended) around the available nodes and for their participation and service they get paid.

I was taking my lead from Georgem and thelonecrouton on how this might work. Very briefly:

> User opens wallet (I suppose that's the best way to connect with the network) and sees a list of all services.

> User initiates one of the services and places an order by making a payment

> Wallet broadcasts the request around the network and one or more random servicenodes are selected to process the request. Each servicenode owner can choose to install a service or not.

> Servicenodes process transaction. When the transaction is complete, they send confirmation back to the wallet of the parties involved in the transaction, and a confirmation of the transaction for verification is sent to the bloackchain.  How much detail is sent to the blockchain depends on what the devs think is sufficient and what is acceptable taking into consideration bloat.

How does that fit with others view of servicenode apps?

But, I really, really like the 'Blockchain Based Business' label. Props.

That's broadly what I meant by recruiting the services of an oracle primarily for the opacity it brings. But great care must be taken not to create holes in the abstraction that have security implications. I doubt I need to outline the potential for eclipse attacks on an altcoin that relies on just one hard-coded DNS seed node IP address. Eclipse attacks use the comparatively easier route of exploiting weakness in the architecture, not the cryptography. Hence my preference for a cryptography-based solution over one based on modifications to the architecture/system.


For it to be credible, I think it must be distributed (not sure what “completely distributed” means). Otherwise, it's a compromise that weakens the architecture to a (usually incalculable) degree, so I prefer to view pseudo-oracles as stopgap solutions that are best avoided if possible.

I should note that I'm using coins101's 3B (Blockchain-Based Business) context to frame this (and my thinking), i.e. how might it work?

Cheers

Graham

That's cool. We, and anyone else that wants to pitch in, can do it together. Then get feedback and general acceptance, or not, on articles from everyone else.

Not my area of expertise but I am willing to pitch in wherever I can.

Fancy helping put together some write-ups for press articles / PR?

I also get the feeling that crave is a bit scammy. So be careful what you invest. I am ready for the new Ann. I feel that spr hasn't taken a first step yet since Mr. Spread left. I think the new Ann is our first step. We need the world to see SPR is alive and kicking.

I don't like POS either.

JL sounding like its a bit scammy.

From my part, I'm not 100% keen on PoS coins. They have their positives but big issues and PoW is still the better overall approach.

Either way, the actual launch of masternodes has already been made by DRK/DASH.  Why would it matter if another project has them? It's what you do with them that counts.

I've been throwing ideas around and the current results of the survey help to define what to start with:



https://bitcointalksearch.org/topic/m.10656234

There are also things in the background that will surprise a few people when they take shape and are brought to the community.

I don't see that anything has really changed or why any other project is more likely to get ahead.

Ah man, I wish Mr. Spread was back. We were so close to releasing them. Maybe we should invest in CRAVE. I'm going to take a look.

We could use a new Ann soon. CRAVE is releasing MN soon. I would hate for spr to be left in the dust.

http://cointelegraph.com/news/113868/sf-startup-targets-b2b-global-payments-with-blockchain-rails-public-beta-release


This service looks great. B2B wire transfers, but with the blockchain replacing the wires.

But while I was thinking about it, I thought that SPR ServiceNodes offering escrow could be a much better solution.

What is really interesting are the figures they state on the global marketplace:

"The $24 trillion cross-border payments market is growing at a breakneck pace, expected to eclipse $54 trillion by 2022, despite a highly inefficient and expensive system in which businesses spend over $50 billion on wire and foreign exchange fees, wait up to seven days for transactions to complete, and have no visibility into the process."

$54trillion.  That's eye poppingly large.

Special investor incentivises (UK based) are aimed at getting capital into high-risk startups. So far this investment scheme promoted by the UK government has been used by over 1,100 start-ups, 32% in the high tech sector (for the 2012-2013 year, so probably double these figures).

The tax benefits break down as follows:

Income Tax Relief

Income tax relief currently equates to 50% of the initial investment.

There are no exclusions to this tax break and it can also be spread across the current and previous year’s income tax bill.

Invest £1,000 and you can take off £500 of your existing tax bill (works around effective tax rates, so need to take that into account, but applies to 50% of amount invested).

Capital Gains Tax Exemption

After year three, investors can sell their shares and any profit will be 100% exempt from capital gains tax.

CGT Reinvestment Relief

If you have other investments and you decide to cash these in to reinvest in a project that qualifies for the scheme, the capital gains on these initial investments will be subject to a 50% reduction on tax.

Loss relief

If the business fails, the investor can claim loss relief which can be offset against tax on other income.

The loss relief is offset at the level of the individual’s highest income tax rate. The amount invested (minus 50% to take into account the income tax relief) is multiplied by the tax rate to work out the amount that can be claimed.

Inheritance Tax Relief

100% Inheritance Tax relief against the value of the shares is granted two years after the date of the initial purchase.


Investments

1. Shareholders and directors can invest in the shares of a business.

1.1 A maximum annual investment of £100k is allowed by each investor, but the company cannot raise more than £150k

1.2 No minimum investment amount


Restrictions on Trade

The main restriction on what the business cannot do, that looks close, is:

"Financial activities such as banking, insurance, money-lending, debt-factoring, hire-purchase financing or any other financial activities"

I read this to mean, investing in a company that develops a currency is not allowed (banking and other financial activities), but carrying on the trade of developing software, apps that run on servicenodes, is ok.

Directors

Interestingly, directors (but not employees) can invest in the business and obtain the tax benefits. Directors are permitted to be paid for their services. This needs clarification with HMRC, which I will obtain.

Because the money is aimed at developing the business of building one or more apps:

1. There is no limit on the number of businesses that can independently develop apps that run on ServiceNodes.  So, one business can develop a software app for escrow; another can develop software apps for xyz, etc.

2. Investors cash can be used to buy SPR, BTC and DASH (or any crypto) in order to pay for development work and, I assume, to pay directors.


edit

The main thing I need to figure out is the interaction between opensource and commercial for profit ventures.

Please note

This is not tax or investment advice. Speak to a professional before you act on any of the above.

This is not an invitation to invest in anything. Its just my research on tax efficient use of capital for start-ups.

That's pretty much a necessity. The “stirring of the mix” brought by Mr Spread's innovative notion of creating an internal market for service node ownership is likely to make it more difficult to mount an eclipse attack [1, 2]. (apologies for PDFs, haven't had time to write up a tour d'horizon).

Interesting intro to paper [1] which references some of the issues pertinent to the operational aspects of running an overlay network (which is, apparently, the accepted architectural term for what we've been calling 2-tier).


[1] http://www.eecs.harvard.edu/~mema/courses/cs264/papers/eclipse-infocom06.pdf
[2] http://eprint.iacr.org/2015/263.pdf

Cheers

Graham