[ANN][XRB]Cryptocurrency's killer app: RaiBlocks micropayments - page 604.

Flomess

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Quote from: TheBomber999 on April 05, 2016, 08:13:47 AM

Quote from: clemahieu on April 05, 2016, 08:11:36 AM

Quote from: TheBomber999 on April 05, 2016, 05:07:52 AM

Quote from: cryptoboy.architect on March 29, 2016, 07:28:49 AM

I think 475k Mrai per lot is to much

This was the distribution schedule.

2^128 initial, 50% first year, 365 days per year, 10^30 per Mrai.

2^128 / 2 / 365 / 10^30 = 466,140 per day.

No, you don't understand. It's to much to sell 475k (0,13% of total coin) to only one person.

*

137 MIL (remaining) to be distributed the first year. It means that AT BEST 280 investors will hold ALL the coins in circulation by October 2016...
Please, please just do an ICO / IPO

Cryptorials

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Cryptorials.io

Quote from: MALCOM X X X on April 05, 2016, 08:26:59 AM

Quote from: Cryptorials on April 05, 2016, 08:21:53 AM

I haven't read everything that's been said about the distribution but just to put my two cents in: I would like to retain the faucet in some way.

The reason for this is because I am going to use the micropayments to allow users to view my site with all the ads blocked. It would be great it people who have never heard of RAI could go and get some free coins to do this with, rather than having to go through all the hassle of buying them (which nobody will do - limiting the use of this to people who already own some Mrai).

I know that's a selfish reason for me, but I think the same principle will apply for anybody else who does this on their site / app.

I think DEV wont hear about faucet right now.. he is collecting money right now..

Maybe we could make this coin worthless again.. Grin

Lol, maybe.

I do find it a bit strange that the guy was happy to give people this coin for free and then a bunch of people came along and complained about that, but they seem to be happy to pay for it instead. Who are all these people who don't like free stuff?

jokumat

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Quote from: clemahieu on April 05, 2016, 08:22:46 AM

Quote from: jokumat on April 05, 2016, 08:14:31 AM

Quote from: clemahieu on April 04, 2016, 11:12:44 PM

I know I can't convince people of this though the point of the auction isn't for me to get paid, it's to distribute them in a manor that requires the least effort and has low skepticism. Even with the faucet people were pointing out that it could be unfair because there's no way to prove we're not funneling out of the faucet through shell accounts.

I would be perfectly happy buying them on the open market but that's not the situation we're in, to my dismay.

There is also proof of burn distribution like Counterparty did. Fair and not really complicated. Most trustworthy. But brings no money to the devs.

If you want a long distribution (a year or more), you MUST set the price as sharply rising with time.

Of course if you need money you have to go with some sort of crowdsale. But it goes against the spirit of this coin.

But your idea of permanent auction is very bad. You promise to distribute new coins whatever the price is - even if the price is falling. This is destructive, really destructive. I don't believe this promise can be kept. You will be forced to make changes all the time. As a result people will not believe you, they will lose trust in the coin

And the idea to distribute to 7 highest offers is really awful

In your view what does proof or burn offer in the way of fairness this way doesn't? Most of people's concerns are with not being able to pay for them i.e. they wouldn't be able to prove burn.

The timelines can be adjusted but as far as I can tell that barely register's on people's issue list.

auction - if the auction is longterm it kills the expectations of a price rise in the future
- if you (as a dev) are a scammer you can always win the auction because you offer the money to yourself. You risk nothing. People will always suspect this.
There is no way how to pull such scam in proof of burn

clemahieu

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Quote from: TheBomber999 on April 05, 2016, 08:13:47 AM

Quote from: clemahieu on April 05, 2016, 08:11:36 AM

Quote from: TheBomber999 on April 05, 2016, 05:07:52 AM

Quote from: cryptoboy.architect on March 29, 2016, 07:28:49 AM

I think 475k Mrai per lot is to much

This was the distribution schedule.

2^128 initial, 50% first year, 365 days per year, 10^30 per Mrai.

2^128 / 2 / 365 / 10^30 = 466,140 per day.

No, you don't understand. It's to much to sell 475k (0,13% of total coin) to only one person.

It could be divided up in to smaller units though very few people seem to think anything about it is valid.

MALCOM X X X

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Activity: 297

Merit: 250

Quote from: Cryptorials on April 05, 2016, 08:21:53 AM

I haven't read everything that's been said about the distribution but just to put my two cents in: I would like to retain the faucet in some way.

The reason for this is because I am going to use the micropayments to allow users to view my site with all the ads blocked. It would be great it people who have never heard of RAI could go and get some free coins to do this with, rather than having to go through all the hassle of buying them (which nobody will do - limiting the use of this to people who already own some Mrai).

I know that's a selfish reason for me, but I think the same principle will apply for anybody else who does this on their site / app.

I think DEV wont hear about faucet right now.. he is collecting money right now..

Maybe we could make this coin worthless again.. Grin

clemahieu

full member

Activity: 238

Merit: 122

Quote from: jokumat on April 05, 2016, 08:14:31 AM

Quote from: clemahieu on April 04, 2016, 11:12:44 PM

I know I can't convince people of this though the point of the auction isn't for me to get paid, it's to distribute them in a manor that requires the least effort and has low skepticism. Even with the faucet people were pointing out that it could be unfair because there's no way to prove we're not funneling out of the faucet through shell accounts.

I would be perfectly happy buying them on the open market but that's not the situation we're in, to my dismay.

There is also proof of burn distribution like Counterparty did. Fair and not really complicated. Most trustworthy. But brings no money to the devs.

If you want a long distribution (a year or more), you MUST set the price as sharply rising with time.

Of course if you need money you have to go with some sort of crowdsale. But it goes against the spirit of this coin.

But your idea of permanent auction is very bad. You promise to distribute new coins whatever the price is - even if the price is falling. This is destructive, really destructive. I don't believe this promise can be kept. You will be forced to make changes all the time. As a result people will not believe you, they will lose trust in the coin

And the idea to distribute to 7 highest offers is really awful

In your view what does proof or burn offer in the way of fairness this way doesn't? Most of people's concerns are with not being able to pay for them i.e. they wouldn't be able to prove burn.

The timelines can be adjusted but as far as I can tell that barely register's on people's issue list.

Cryptorials

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Activity: 690

Merit: 505

Cryptorials.io

I haven't read everything that's been said about the distribution but just to put my two cents in: I would like to retain the faucet in some way.

The reason for this is because I am going to use the micropayments to allow users to view my site with all the ads blocked. It would be great it people who have never heard of RAI could go and get some free coins to do this with, rather than having to go through all the hassle of buying them (which nobody will do - limiting the use of this to people who already own some Mrai).

I know that's a selfish reason for me, but I think the same principle will apply for anybody else who does this on their site / app.

cyberhacker

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Activity: 1330

Merit: 1000

Quote from: jokumat on April 05, 2016, 08:14:31 AM

Quote from: clemahieu on April 04, 2016, 11:12:44 PM

I know I can't convince people of this though the point of the auction isn't for me to get paid, it's to distribute them in a manor that requires the least effort and has low skepticism. Even with the faucet people were pointing out that it could be unfair because there's no way to prove we're not funneling out of the faucet through shell accounts.

I would be perfectly happy buying them on the open market but that's not the situation we're in, to my dismay.

There is also proof of burn distribution like Counterparty did. Fair and not really complicated. Most trustworthy. But brings no money to the devs.

If you want a long distribution (a year or more), you MUST set the price as sharply rising with time.

Of course if you need money you have to go with some sort of crowdsale. But it goes against the spirit of this coin.

But your idea of permanent auction is very bad. You promise to distribute new coins whatever the price is - even if the price is falling. This is destructive, really destructive. I don't believe this promise can be kept. You will be forced to make changes all the time. As a result people will not believe you, they will lose trust in the coin

And the idea to distribute to 7 highest offers is really awful

great idea!!!!

Proof of burn like XCP, IF WE NEED PURE FAIR

if dev need funds. then ICO.

jokumat

sr. member

Activity: 249

Merit: 250

Quote from: clemahieu on April 04, 2016, 11:12:44 PM

I know I can't convince people of this though the point of the auction isn't for me to get paid, it's to distribute them in a manor that requires the least effort and has low skepticism. Even with the faucet people were pointing out that it could be unfair because there's no way to prove we're not funneling out of the faucet through shell accounts.

I would be perfectly happy buying them on the open market but that's not the situation we're in, to my dismay.

There is also proof of burn distribution like Counterparty did. Fair and not really complicated. Most trustworthy. But brings no money to the devs.

If you want a long distribution (a year or more), you MUST set the price as sharply rising with time.

Of course if you need money you have to go with some sort of crowdsale. But it goes against the spirit of this coin.

But your idea of permanent auction is very bad. You promise to distribute new coins whatever the price is - even if the price is falling. This is destructive, really destructive. I don't believe this promise can be kept. You will be forced to make changes all the time. As a result people will not believe you, they will lose trust in the coin

And the idea to distribute to 7 highest offers is really awful

TheBomber999

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Activity: 1274

Merit: 1001

"shh, he's coding..."

Quote from: clemahieu on April 05, 2016, 08:11:36 AM

Quote from: TheBomber999 on April 05, 2016, 05:07:52 AM

Quote from: cryptoboy.architect on March 29, 2016, 07:28:49 AM

I think 475k Mrai per lot is to much

This was the distribution schedule.

2^128 initial, 50% first year, 365 days per year, 10^30 per Mrai.

2^128 / 2 / 365 / 10^30 = 466,140 per day.

No, you don't understand. It's to much to sell 475k (0,13% of total coin) to only one person.

clemahieu

full member

Activity: 238

Merit: 122

Quote from: TheBomber999 on April 05, 2016, 05:07:52 AM

Quote from: cryptoboy.architect on March 29, 2016, 07:28:49 AM

I think 475k Mrai per lot is to much

This was the distribution schedule.

2^128 initial, 50% first year, 365 days per year, 10^30 per Mrai.

2^128 / 2 / 365 / 10^30 = 466,140 per day.

Flomess

hero member

Activity: 705

Merit: 500

Quote from: hakanbalta577 on April 05, 2016, 07:40:32 AM

Quote from: Flomess on April 05, 2016, 07:34:10 AM

Quote from: hakanbalta577 on April 05, 2016, 07:28:54 AM

Quote from: Flomess on April 05, 2016, 07:24:19 AM

There should be a way to block the BTCs that one puts into his bid; some kind of escrow that holds the bids i guess... if i were to be the highest bidder, i whould never pay, since 6 people are getting way better prices.

How can it happen especially there will be maybe hundreds bids in the last minutes?

I.E. Sending the btc to an escrow address is considered a bid; losing bids will be returned.

So noone can make 10 or 20 bids in the last minutes? Where is the aucation?

Why not? Every btc sent before a given time whould be considered a valid bid. You won't be able to see the last minute bids but atleast they whould be real. Unlike now.

hakanbalta577

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Activity: 406

Merit: 250

Quote from: Flomess on April 05, 2016, 07:34:10 AM

Quote from: hakanbalta577 on April 05, 2016, 07:28:54 AM

Quote from: Flomess on April 05, 2016, 07:24:19 AM

There should be a way to block the BTCs that one puts into his bid; some kind of escrow that holds the bids i guess... if i were to be the highest bidder, i whould never pay, since 6 people are getting way better prices.

How can it happen especially there will be maybe hundreds bids in the last minutes?

I.E. Sending the btc to an escrow address is considered a bid; losing bids will be returned.

So noone can make 10 or 20 bids in the last minutes? Where is the aucation?

Flomess

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Activity: 705

Merit: 500

Quote from: hakanbalta577 on April 05, 2016, 07:28:54 AM

Quote from: Flomess on April 05, 2016, 07:24:19 AM

There should be a way to block the BTCs that one puts into his bid; some kind of escrow that holds the bids i guess... if i were to be the highest bidder, i whould never pay, since 6 people are getting way better prices.

How can it happen especially there will be maybe hundreds bids in the last minutes?

I.E. Sending the btc to an escrow address is considered a bid; losing bids will be returned.

hakanbalta577

sr. member

Activity: 406

Merit: 250

Quote from: Flomess on April 05, 2016, 07:24:19 AM

There should be a way to block the BTCs that one puts into his bid; some kind of escrow that holds the bids i guess... if i were to be the highest bidder, i whould never pay, since 6 people are getting way better prices.

How can it happen especially there will be maybe hundreds bids in the last minutes?

Flomess

hero member

Activity: 705

Merit: 500

There should be a way to block the BTCs that one puts into his bid; some kind of escrow that holds the bids i guess... if i were to be the highest bidder, i whould never pay, since 6 people are getting way better prices.

xaker74

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Activity: 1016

Merit: 502

5 pages already written, wow ) I was just going to offer another method: some change difficulty like

a btc or another altcoin, any X hours or any X blocks, when be a smaller, or bigger on a captcha reward / time to reward.

Pimpmycoin

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non può fare dump per sempre

lol now is a 100% premined coin dumped on the market by the dev

congrats Roll Eyes

hakanbalta577

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Activity: 406

Merit: 250

Quote from: 3worlduser on April 05, 2016, 05:53:44 AM

Quote from: jibble on April 05, 2016, 05:46:39 AM

Quote from: 3worlduser on April 05, 2016, 05:41:33 AM

even in fair condition is not an easy way for people to get this coin you will change them of clicking the captchas for waiting stick to the computer screen to the last minutes of the daily auction to offer a bid 1sat higher than the other guys

very true i don't think i looked too deeply into the mechanics of auctioning especially in the google group format or the ebay style rush 10 minutes before every auction .

I did suggest the auction get cancelled/put on hold for the moment since that is the only almost unanimous decision the community i think would agree on by a big majority

And what about all those captcha-miner, and slave recruiter who are upset with the decision, I mean how difficult would be for them to hijack the auction every day, how about create 7 gmail accounts and place exorbitant bid just to piss off the DEV, it is childish but I'm sure that somebody with plenty of time to solve captchas will have plenty of time to do something like that

You are pointing really good parts of situations which can be happened in the future. Thanks.

3worlduser

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Activity: 306

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Quote from: jibble on April 05, 2016, 05:46:39 AM

Quote from: 3worlduser on April 05, 2016, 05:41:33 AM

even in fair condition is not an easy way for people to get this coin you will change them of clicking the captchas for waiting stick to the computer screen to the last minutes of the daily auction to offer a bid 1sat higher than the other guys

very true i don't think i looked too deeply into the mechanics of auctioning especially in the google group format or the ebay style rush 10 minutes before every auction .

I did suggest the auction get cancelled/put on hold for the moment since that is the only almost unanimous decision the community i think would agree on by a big majority

And what about all those captcha-miner, and slave recruiter who are upset with the decision, I mean how difficult would be for them to hijack the auction every day, how about create 7 gmail accounts and place exorbitant bid just to piss off the DEV, it is childish but I'm sure that somebody with plenty of time to solve captchas will have plenty of time to do something like that

Topic: [ANN][XRB]Cryptocurrency's killer app: RaiBlocks micropayments - page 604. (Read 775281 times)