Topic: Bitbox - A simple, intuitive hardware solution for running full nodes (Read 177 times)

Initially, the tokens come from the ICO. The ICO will primarily be a method for us to raise additional funds to cover current development and production costs as well as any future features. Once the ICO is over, the ICO tokens will convert 1:1 to the PoS Bitbox coins, which you could either convert to whatever fits your needs or stake for more rewards. The earlier you buy into the ICO, the more tokens you will receive.

The coins can be used via smart contract to pay people to run your blockchain project on their bitbox node. This will help create an ecosystem where new blockchain projects can be rapidly deployed.

You can use the coin like any other cryptocurrency and we will work to get it listed on exchanges when we go live.



This is the current plan, although we will allow anyone to buy the hardware with whatever payment method they want.


I would be interested to hear more as to you think people are against incentivizing running full nodes.

Like @eternalgloom mentioned, you could just buy the product, run your full nodes and not participate in our PoS blockchain.

Great question, I was wondering that as well after checking out the website's FAQ.

Where does the demand for Bitbox tokens come from exactly?

Done't get me wrong, it would be great if you could eventually deliver a finished product that will allow people to run full nodes easily.
I just don't quite see why people would want to do that for tokens that might not have any value.

That said, I'm sure that some people would just buy it regardless of any earnings, just because they want to run a full node without expecting profit for it.

Who will be buying the Bitbox tokens or are they only a stepping platform to conversion to other tokens? Something has to give the Bitbox tokens some kind of value, before they can be used to pay someone. 

Will the Bitbox upgrades and new hardware releases be sold in Bitbox tokens only, to stimulate a demand for it?

I like the concept of incentivising someone to run a full node, even if a lot of people are against that. You should be rewarded if you spend money on Bandwidth, to support the network. 

Criticism is welcome, especially when it is as constructive as yours is!


That is absolutely true and there is nothing stopping you or anyone from doing that. The problem is that setting up full nodes is no cakewalk, especially for folks who are not already tech savvy. Also, if you want to run full nodes for more than one blockchain the process can be very different (think PoS coins, or non-BTC derivatives).

In order for mainstream support and adoption, the user experience of ANY product needs to be simple and intuitive to use. That's why bitbox focuses on usability making it as easy as plugging it in, going to the web interface (or future mobile app), and selecting the full nodes you want to run with one click.


This is a great point and the other problem we set out to solve: There is no incentive to run full nodes. The only rewards are for mining, yet full nodes are equally important to any blockchain project. We will be launching our on PoS blockchain that will come pre-loaded and will allow you to PoS mine with your bitbox. Also, there are direct rewards for running full nodes for extended periods of time. The more nodes you run, the more you earn (and can stake).

Also, as the community gets more involved, support for other PoS coins can be added.

The project sound somewhat interesting, however, I don't know what could convince users get your product instead of finding an old computer (home users) they can customize better and if they are businesses they can audit better something not encapsulated in a 3rd party box.
The incentives could be an idea for the home user. But unless your box also does something lucrative (PoW) while "sitting" there, the tokens you pay may be worthless.

I don't want to criticize. I want you convince me your product worth buying. I really hope I've missed or misunderstood something.

Why Bitbox?
Currently, there are no direct incentives to run any full node. We aim to change that.

What is Bitbox?
Bitbox is a hardware solution specifically designed to run full nodes of not only Bitcoin but ANY blockchain network you want. Not only do we have a hardware solution, but our Bitbox app uses a modern containerization platform so you can spin up ANY blockchain network of your choosing, with a tap of a button on your mobile device. Each node you support will also come with full wallet integration, so your Bitbox can become the hub for your day to day crypto-related interactions.

Tokens, For What?
Incentivizing users to run full nodes isn't something that is inherently built into the core functionality of Bitcoin or any similar project. The tokens you will earn can provide flexibility to any Bitbox owner. By running a Bitbox, you will earn Bitbox tokens over time. The more nodes you run, the more you earn. It is that simple. You can:

• Utilize the Bitbox tokens to participate in our PoS (Proof of Stake) network, ultimately making your nodes work for you.
• Convert said tokens into any supported currency, via atomic swap.
• Use said tokens to purchase Bitbox upgrades, new hardware releases, etc. as we roll new products out.

How Do I Participate?
We are in the beginning stages of our development, with multiple working physical prototypes and would love to get these into the hands of some passionate alpha users. We think this tool will be a valuable asset to the crypto community at large ad we would love to hear your feedback.

Within the next couple of weeks, we will launch our site's store where you can pre-order a prototype.

About The Team
We are a group of avid blockchain enthusiasts who have a combined number of decades working as hardware engineers, software engineers and designers for large financial institutions. Our goal is to lower the barrier of entry into the blockchain ecosystem while maintaining a great user experience.

Make sure to visit our website at www.getbitbox.io and follow us on Twitter (@bitbox_io) and Facebook (@bitbox.io) for all of our updates and announcements.

Thank you!