[ANN][BITS][Bitstar] Now on Cryptopia, Nova and Yobit new wallet fork in testing - page 36.

tranzactionezlive

sr. member

Activity: 261

Merit: 250

Quote from: T3CLtd on April 04, 2016, 08:37:52 AM

Quote from: tranzactionezlive on April 04, 2016, 07:33:39 AM

Why wasn't this announced on Poloniex which was the main exchange for BITS for over 2 years ?

It is unfair to many holders including myself who put up alot of time/investment into BITS.

Had you been an active member of the BITS community you would be more than aware of both the fact that Bittrex has been, bar far, the most active exchange for Bitstarcoin over the past two years and, what is more, that this experimental coin project and burn process was announced quite some time ago in this thread.

Quote

I am over 1% shareholder in BITS and had no way of getting in on a "merger". That's less fair than corporatist crookery.

You appear to misunderstand the difference between holding a share, which is an asset, and buying some digital currency, which is not.

I find it hard to understand how you think you have put a lot of time into this coin project when neither I, nor the devs, recall seeing you anywhere near the work that has been ongoing consistently throughout the lifetime of this open-source project.

You felt my money didn't you ?

kb4scv

legendary

Activity: 966

Merit: 1000

Quote from: T3CLtd on April 04, 2016, 08:37:52 AM

Quote from: tranzactionezlive on April 04, 2016, 07:33:39 AM

Why wasn't this announced on Poloniex which was the main exchange for BITS for over 2 years ?

It is unfair to many holders including myself who put up alot of time/investment into BITS.

Had you been an active member of the BITS community you would be more than aware of both the fact that Bittrex has been, bar far, the most active exchange for Bitstarcoin over the past two years and, what is more, that this experimental coin project and burn process was announced quite some time ago in this thread.

Quote

I am over 1% shareholder in BITS and had no way of getting in on a "merger". That's less fair than corporatist crookery.

You appear to misunderstand the difference between holding a share, which is an asset, and buying some digital currency, which is not.

I find it hard to understand how you think you have put a lot of time into this coin project when neither I, nor the devs, recall seeing you anywhere near the work that has been ongoing consistently throughout the lifetime of this open-source project.

Since you have no obligation to the holders of Bits, not sure why you take it upon yourself to answer these type of questions. Like it or not, ppl are entitled to post opinions.

Take it for what it is, either complete BS or constructive criticism. If it is hard to tell which one it is, leave it alone.

T3CLtd

member

Activity: 126

Merit: 10

Quote from: tranzactionezlive on April 04, 2016, 07:33:39 AM

Why wasn't this announced on Poloniex which was the main exchange for BITS for over 2 years ?

It is unfair to many holders including myself who put up alot of time/investment into BITS.

Had you been an active member of the BITS community you would be more than aware of both the fact that Bittrex has been, bar far, the most active exchange for Bitstarcoin over the past two years and, what is more, that this experimental coin project and burn process was announced quite some time ago in this thread.

Quote

I am over 1% shareholder in BITS and had no way of getting in on a "merger". That's less fair than corporatist crookery.

You appear to misunderstand the difference between holding a share, which is an asset, and buying some digital currency, which is not.

I find it hard to understand how you think you have put a lot of time into this coin project when neither I, nor the devs, recall seeing you anywhere near the work that has been ongoing consistently throughout the lifetime of this open-source project.

MadCow

hero member

Activity: 655

Merit: 500

Quote from: tranzactionezlive on April 04, 2016, 08:24:42 AM

Quote from: kb4scv on April 04, 2016, 08:08:31 AM

Yeah, a lot to the whole "fairness" thing, even though it was billed as a "fair" way to launch a coin. Does not really seem that way to me, but they have their reasons for doing what they did and hopefully it all works out.

At least the Bits supply shrinks, so whenever Bits have a reason for more interest, should translate into higher prices for the coin.

I am over 1% shareholder in BITS and had no way of getting in on a "merger". That's less fair than corporatist crookery.

I feel bad for you. Your 1% in BITS is a larger stake post burn, and maybe you can do a trade with someone who has second thoughts and wants to decrease their BATL stake. My understanding is the new project has far more risk, and is dubbed "experimental", whatever that means. You might be glad you missed the burn deadline if it tanks. BITS is still a good project, especially with the SuperNET connection. Is BATL in SN?

tranzactionezlive

sr. member

Activity: 261

Merit: 250

Quote from: kb4scv on April 04, 2016, 08:08:31 AM

Yeah, a lot to the whole "fairness" thing, even though it was billed as a "fair" way to launch a coin. Does not really seem that way to me, but they have their reasons for doing what they did and hopefully it all works out.

At least the Bits supply shrinks, so whenever Bits have a reason for more interest, should translate into higher prices for the coin.

I am over 1% shareholder in BITS and had no way of getting in on a "merger". That's less fair than corporatist crookery.

kb4scv

legendary

Activity: 966

Merit: 1000

Yeah, a lot to the whole "fairness" thing, even though it was billed as a "fair" way to launch a coin. Does not really seem that way to me, but they have their reasons for doing what they did and hopefully it all works out.

At least the Bits supply shrinks, so whenever Bits have a reason for more interest, should translate into higher prices for the coin.

tranzactionezlive

sr. member

Activity: 261

Merit: 250

Quote from: Mark81 on April 02, 2016, 06:31:04 AM

Quote from: tranzactionezlive on April 02, 2016, 05:46:18 AM

Where do i burn bitstar and where is the project and how and why ? Please enlighten me on the subject !

Burning period has ended, sorry for your loss.

Why wasn't this announced on Poloniex which was the main exchange for BITS for over 2 years ?

It is unfair to many holders including myself who put up alot of time/investment into BITS.

Mark81

sr. member

Activity: 313

Merit: 250

Batl network is now working great with proof of work mining. Block times are great. Also getting few batl by mining... In 18 hours ~800 batl coins received.

MadCow

hero member

Activity: 655

Merit: 500

Quote from: kb4scv on April 02, 2016, 11:19:31 AM

My point was amount was not known beforehand. Keep having blind burn-offs and I believe you will approach that 100% as ppl want part of new coin and believe this one is stalled. Sure, would be great to have $100 coin, but if it cannot move on exchange it will die.

Anyway, all hypothetical at the moment. Bits devs will do what they think is best.

And, just started on this experiment. No idea where it ends up for a while!

i was surprised at the 25% burn of BITS for the new coin. what would have happened to bitstar if the rate had been 75%? how about 90% ... if the burn rate was too high BITS could have ended up being too small to be viable

jakiman

legendary

Activity: 1638

Merit: 1011

jakiman is back!

Yeah, I do agree that it can't be burnt indefinitely as we don't want a very low coin supply of BITS.
Hopefully devs has good plans for BITS as I don't want it just being burnt away constantly to zero.

kb4scv

legendary

Activity: 966

Merit: 1000

My point was amount was not known beforehand. Keep having blind burn-offs and I believe you will approach that 100% as ppl want part of new coin and believe this one is stalled. Sure, would be great to have $100 coin, but if it cannot move on exchange it will die.

Anyway, all hypothetical at the moment. Bits devs will do what they think is best.

And, just started on this experiment. No idea where it ends up for a while!

jakiman

legendary

Activity: 1638

Merit: 1011

jakiman is back!

It is burnt at a percentage as that's what owners of BITS were willing to spend our of their own balance.
Some spent only 1% of their balance while some may have spent 50% or more. This time, it averaged to about 25%.
Unless everyone devices to burn 100% of their balance, there will always be BITS remaining.

But i do agree that BITS dev should continue to focus on improving BITS as their main coin.

kb4scv

legendary

Activity: 966

Merit: 1000

It was not based on a percentage for this one, although it could be for future.

Not sure you want to burn away your coin supply just to start new coins.

I am all for shrinking the supply, if you hava a desirable product to move Bits on the markets. Thinning supply only helps if demand is still there as you can see with no rise in price from Bits on news of burning coins.

I understand working a side project if your main is on hold for a little bit, but don't loose focus!

jakiman

legendary

Activity: 1638

Merit: 1011

jakiman is back!

Quote from: QuadraQ on March 31, 2016, 09:16:25 AM

You can only burn so many BITS though, so I don't really see how that would work.

There are plenty of coins. It's burnt at a percentage.
Well, unless 100% of BITS gets burnt at once Wink

E.g. Even if 25% of BITS is burnt for next 5 projects, there will be 3559570 BITS left.
Heck, if we drop by 25% for 10 more times after it, there will be 200451 BITS left.
But I don't expect such a drastic drop although it will all depend on the project. Cool

Mark81

sr. member

Activity: 313

Merit: 250

Quote from: tranzactionezlive on April 02, 2016, 05:46:18 AM

Where do i burn bitstar and where is the project and how and why ? Please enlighten me on the subject !

Burning period has ended, sorry for your loss.

Mark81

sr. member

Activity: 313

Merit: 250

Quote from: boacw on April 02, 2016, 06:02:42 AM

Quote from: Mark81 on April 02, 2016, 02:52:28 AM

How that is done? Edit: Do I need to run batld on linux? Or just normal batl-qt? On normal client i don't find setgenerate command on debug window.

I run batld and don't use "setgenerate" like with bitstard, but I use "batld walletpassphrase mypasssword 9999999 true" only.
Don't know how to do it with the QT wallet, sorry.

Thanks for letting know. I figured this out by myself by reading from internet. I use minerd for now and running normal QT wallet.

boacw

member

Activity: 101

Merit: 10

Quote from: Mark81 on April 02, 2016, 02:52:28 AM

How that is done? Edit: Do I need to run batld on linux? Or just normal batl-qt? On normal client i don't find setgenerate command on debug window.

I run batld and don't use "setgenerate" like with bitstard, but I use "batld walletpassphrase mypasssword 9999999 true" only.
Don't know how to do it with the QT wallet, sorry.

tranzactionezlive

sr. member

Activity: 261

Merit: 250

Where do i burn bitstar and where is the project and how and why ? Please enlighten me on the subject !

T3CLtd

member

Activity: 126

Merit: 10

Quote from: QuadraQ on March 31, 2016, 09:16:25 AM

You can only burn so many BITS though, so I don't really see how that would work.

I think you might want to revisit your understanding of math percentages and proportions.

Quote from: kb4scv on March 31, 2016, 07:51:42 PM

You guys going to make a new thread for the project?

A new thread will be created when the PoS-only wallet is released which should not be too much longer.

Quote from: boacw on April 02, 2016, 02:33:07 AM

What I've understood is that now, with the first wallet, POS is not enabled.
I think that everyone can mine blocks for now (I've mined 3 blocks with my raspberry pi :-)).

Correct, there needed to be a brief period of mining initially prior to the PoS stage, although it doesn't offer much in the way of reward.

Mark81

sr. member

Activity: 313

Merit: 250

Quote from: boacw on April 02, 2016, 02:33:07 AM

Quote from: Mark81 on April 02, 2016, 01:19:55 AM

Why is batl blockexplorer is showing proof of work for latest blocks and POS blocks are delaying? Is someone mining this coin? And it should take less than 10 hours to have 500 confirmations at 64 second block time for minted blocks, right?

What I've understood is that now, with the first wallet, POS is not enabled.
I think that everyone can mine blocks for now (I've mined 3 blocks with my raspberry pi :-)).

How that is done? Edit: Do I need to run batld on linux? Or just normal batl-qt? On normal client i don't find setgenerate command on debug window.

Topic: [ANN][BITS][Bitstar] Now on Cryptopia, Nova and Yobit new wallet fork in testing - page 36. (Read 438039 times)