Topic: [ANN][BITS][Bitstar] Now on Cryptopia, Nova and Yobit new wallet fork in testing - page 64. (Read 438037 times)

In my question I assumed that building an ATM unit is for purpose of wholesaling them. So next thing is price  of those units and of course giving discounts for bying in BITS?

Thanks. Any problems just let me know, the link to the xpool thread is in my sig or hit me up on the SuperNET slack.

Payouts are Mon/Wed/Thu and there'll be a BITS payout shortly as there is already a miner

Cheers!

Some nice news, Multipool Xpool have added bitstar as a payout option http://www.xpool.ca/

@bitkokos You began this series of posts by claiming that the Cyprus Government would need to approve cryptocurrency ATMs, which is false. You also claimed near-absolute certainty that cryptocurrency machines would be shutdown and seized and suggested that I would be thrown in prison, which is also nonsense. Cyprus is not some wild-west third-world country, although it does suffer from certain inherent sociopolitical issues, as all countries do to some degree, the Cypriot government is generally very supportive of e-commerce and is more than open to discussing new ideas and technical concepts, what is more, they are probably one of the only EU countries where one can actually directly converse with key government and Central Bank personnel should one need to.

You have now resorted to dragging up rather irrelevant facts about the use of the internet by local consumers, including a link to an article which makes the fallacious mistake of employing an absolute, "However, Cypriots may be enthusiastic internet users for these activities, but they are unwilling to make any online transaction, probably due to lack of confidence."

If the above were actually true then, yes, any internet-based service would indeed be doomed to failure. As a logical fallacy, however, said absolute is false as there are plenty of internet users in Cyprus, many of whom are clearly using online banking and paying their bills online.

I'm not sure what the intended purpose of your posts was, to discredit our business, or your own country.


Sorry Mark, could you expand on that, I'm not sure what you're asking.

You misunderstood what I said.
I have never said everybody in Cyprus doesn't use online payments. I have said 72% of the population uses the internet and of those, 35% make online transactions (paying bills, NOT waiting in bank queues etc).
That shows they don't trust online payments.
I am not using anti-Cyprus rhetoric, I am not ignorant as I am Cypriot living in Cyprus and this is what I see in everyday's life.
I hope you can read Greek and be able to read a recent article here http://www.typos.com.cy/cat/1/article/11822
I quote something from there:
Ωστόσo, μπoρεί oι Kύπριoι να είναι ενθoυσιώδεις χρήστες τoυ διαδικτύoυ για τις παραπάνω δραστηριότητες, δείχνoυν όμως μεγάλη απρoθυμία να πραγματoπoιήσoυν oπoιαδήπoτε ηλεκτρoνική συναλλαγή, πιθανώς λόγω έλλειψης εμπιστoσύνης.

Translation:
However, Cypriots may be enthusiastic internet users for these activities, but they are unwilling to make any online transaction, probably due to lack of confidence.

As you can see, "anti-Cyprus" researches (performed by EU) showed that too.

Again, I wish your plans will be succesful and I will be one of the first people who might use the ATM.

@mark81 We are not building our own ATM machines, we are rebranding existing multi-coin machines from third-party providers.


Actually it is about you, after all, you are the first person to post such a vehemently anti-Cyprus statement on this subject.

I will take each point in turn:

That politicians may laugh at the notion of Bitcoin and cryptocurrency in general is irrelevant. The same can be said for almost every jurisdiction in the world when first learning of the technology. It is not a metric by which one can judge anything other than the hubris of some in positions of political power.

Last position for what, exactly? How does this relate to anything concerning a business aimed at those in a market who are already interested in technology and cryptocurrencies? Our aim is not to bring new users to the internet, it is to serve local internet users who are already aware of the existence of bitcoin.

So are you claiming nobody in Cyprus pays their bills online? Because that is just a monumentally bizarre assertion to employ to support your position. That, 'people' still pay at the utility office does not in any way translate into, 'nobody pays online'. How do you explain, then, the fact that the vast majority of road tax renewals are paid online? Surely if your condemnation of the state of the use of online services in Cyprus bore any truth then the only a handful of renewals would be?

Again with a bold assertion that serves to provide for nothing other than the vague claim that 'they' don't 'trust' online bank transfers. How does that correlate with the fact that almost everybody and every business I know uses online banking services here? Your 'fact' might have been more accurate had you posted it ten years ago.

Going beyond your anti-Cyprus rhetoric you appear to be monumentally ignorant of one particular key market sector, wealthy ex-pat communities from Russia and numerous other countries. Cyprus had, for many years, a booming offshore-financial-services sector and, while EU membership put paid to many aspects of that, it still retains many benefits to investors and high-net-worth individuals. These are the primary market we intend to serve initially.

Nothing in our business plan is related to bringing cryptocurrency to the 'masses' locally, merely that we wish to provide an introduction to multi-faceted cryptocurrency services and an easy on/off-ramp for fiat<>crypto to our target market here.

It's not about me, it's about the rest who have no idea what cryptocurrencies are.
Even before Neo and Bee opened in Cyprus, every single politician in Cyprus was laughing on bitcoins.
72% of Cypriots use the internet and of those only 35% uses the internet for electronic payments, commerce etc
This gives Cyprus the last position in the whole EU.
People are still waiting in queues to pay utility bills where they could pay within 30 seconds from home.
They don't even trust simple bank online transactions, how do you expect they understand and accept cryptocurrencies?
You said "Many years of experience strongly suggests otherwise". What kind of experience showed that in Cyprus?

Do you dare to share information how many ATMs you are able to build per month and maybe price of those?
Edit: And are there chance to provide ATM purchase with BITS a sale with certain percentage? That would cause nice volumes for BITS trading and competition for regular bitcoin ATMs.

I would be interested to know how you come to such a reactionary and uninformed opinion on the matter, bitkokos.

We have spoken to both our local bankers and our auditors, Deloitte, who have informed us that with cryptocurrency not considered a financial product, there is no regulatory approval required for the operation of these machines. They are considered vending machines of 'electronic tokens of value', in the same way that one may currently walk into many local shops here and purchase mobile phone credits, or ukash vouchers etc.

That Danny Brewster nearly ruined the reputation of bitcoin locally, by way of his centralised approach to how he intended to operate Neo & Bee, namely, as a bitcoin-bank/financial service business, before running off with the stash of bitcoin he had received from many investors (something previously alleged as having happened with fiat payments received to a UK limited company he had incorporated and abandoned prior to his Cyprus venture), the resultant harm done to the image of cryptocurrency has been relatively easy to overcome in discussions here simply by pointing out that our operation allows us to ensure we do not hold any funds, crypto or fiat, belonging to our customers. The transaction is a simple real-time buy or sell through the machines.

If you would care to do some minimal research, bitkokos, you will find plenty of information pertaining to the events surrounding Danny Brewster, Neo & Bee and Andreas Antonopoulos. The regulatory department taking issue with Neo & Bee at the time were the consumer advertising body, not the financial services authority, whom had already declined to 'license' Neo & Bee's bitcoin operations solely because they did not consider bitcoin to be a currency.

http://antonopoulos.com/2014/04/18/neo-bee-a-statement-by-andreas-m-antonopoulos-a-consultants-perspective/

Also, with regards to your 'Cyprus is the last place on earth' to try developing a cryptocurrency business, would you care to elaborate on such a bold assertion? Many years of experience strongly suggests otherwise, unless you are better informed?

T3CLtd have you contacted/informed the Cyprus government about the ATM?
If you didn't do so, I think you SHOULD do it and I give less than 0.1% chances you get a yes.
If you don't plan to inform them, I give more than 99.99% as soon as they get notified about it, they will remove it and you will most likely end up in jail (Something I don't wish to happen though)
Cyprus is the last place on earth to try something like that.

I've been asked to provide a status update for the community.

As ever, nothing that I, or the dev for Bitstar, announce is intended to encourage or dissuade anybody to invest in this coin. This post is purely to provide information relevant to the projects underway in order that you may be better informed.

There is a new BITS wallet being finalised with an all-new look, which will also incorporate the SuperNET GUI functionality.

The excessive transactions created by the staking process for this coin is also being addressed and a modification to the code is currently being tested to ensure it both ameliorates the problematic elements of the staking, while also maintaining  the fast block time this coin network operates with.

The multipool is being relocated to a third-party multipool provider where BITS will be added as a payout option. This is in order to outsource the work required to maintain and run a coin multipool.

There is still work to be done with the p2p trading platform to further improve and enhance the user experience ahead of planned future developments to be announced at a later date.

The ATM rollout in Cyprus is being pushed back into Q2 until the SuperNET GUI is further developed. We intend to utilise it and the SuperNET functionality for our customer base integrated services and, as such, need to ensure it is fully operational and delivers the degree of intuitive user experience required to promote to those unfamiliar with cryptocurrency.

In the meantime, however, the work being done in the SuperNET Slack community is leading to some incredible innovations and features being added to the platform which will ultimately translate into positive developments for this and the other sNET coins.

As I mentioned previously, I would suggest anybody wishing to keep up with  developments pertaining to this coin to join the 'sprnt' Slack channel to monitor the ongoing project discussions throughout that community.Myself and Bitstar dev have been working within the CPMT (Centralised Product Management Team) for several months, seven days a week. An enormous amout of progress had been made in creating, developing and releasing numerous SuperNET elements and there are still some absolutely game-changing services being rolled out.

You will see from this thread in the NXT forum how the CPMT was formed and how it  is structured. This will also serve to show you just how deeply involved with the  SuperNET project myself and Bitstar dev are.
https://nxtforum.org/unity/supernetx2-and-the-centralized-product-management-team-(cpmt)/

That Bittrex maintain an unreasonable demand for daily volume of trades, frequently resulting in this coin receiving the usual warning about potentially being delisted, does not serve to prove anything about the quality of the coin projects on that market, only that Bittrex have in place a robust method for artificially forcing trading volumes in order to maximise their fee-based income. Don't forget that BITS also has a market on Poloniex and can actually be traded already for NXT over on the Asset Exchange, listed as ‘superBITS’.

With that in mind, however, one incredibly exciting aspect of the developments over at SuperNET is the real-time decentralised trading platform currently in beta. This will allow for all hosted coins to be traded against each other, without the risks  associated with holding your trading funds on a third-party centralised exchange. This 'iDEX' service, coupled with another SuperNET innovation, 'SkyNET' an artificial-intelligence trading project, will see a large amount of liquidity and active trading brought to bear across the entire range of SuperNET currencies.

All this and so much more is showing the SuperNET platform to be an inredibly  exciting environment to both work in and use. But none of it can happen without hard work and time.

Think of Bitstar as having managed to secure prime real-estate within the 'Silicon-Valley' of cryptocurrency landscapes. It's all about, "Location Location Location". The building work is progressing at great pace within a dynamically evolving environment.

Connect with SuperNET, sign up for the newsletters, keep yourself informed about the big picture. Then you will be better positioned to understand where BITS is headed.

+1 

I guess it's final day of this week to T3CLtd have announcement. I hope it comes, but if it not then this community have to have explained reasons for that and make promises to have valid announcements. No need for false promises, right?

http://bitstarcoin.com/bootstrap.dat

No, I didn't sent any coins yet. The wallet is empty and it's stuck there for more than 6 hours. Now, I have 10 connections to the network.
Where will the bootstrap be posted?
thanks

You just need to give it time, make sure if you have coins in the wallet, that its locked too so it doesn't try and stake too soon, otherwise it slows it down.

Currently testing the last bit of a wallet update, after that I'll refresh the bootstrap.dat and try and set up a daily fast sync zip file.

Hi
I have bought some thousands of BITS on bittrex and downloaded the windows wallet from the first post on this thread today.
I Can't sync the wallet. it's stuck as in the photo below. I have closed and reopened the wallet 3-4 times, deleted everything and started from scratch but, nothing.
I get 7 active connections to the network

I hoped that I reduced an unnecessary resource by the end of this week.

When will it come?

Appears to be back online now.

No, Will chase them up