Topic: ◈◈Bitcredit ◈◈ Migrating to UniQredit◈◈ - page 218. (Read 284530 times)

i just cant see a good rate of return buying 250k at 1000sats is 2.5btc = $686 weekly payment 0.01btc-0.02btc = $5.4 is it reall worth it. i would only ask that if it was reduced it would be much interesting and attractive. not worth it for me

Could you make a version that combine the pool and the solo version ?
The ypool is down, p2pool and bcrp2pool 3-4 times a day goes down, so would be nice if any pool is not available, goes to solo mine.

Thx

http://imgur.com/BGYUQaB

Need some nodes PLS ?

If one more person decides to buy up enough to host a bank node, we'll see some interesting things

ty everything works just fine

bitcredit.conf


start.bat

does any1 have a sample bcr.conf and a run.bat for nan's solo miner in hand for solo mining?

Quick tip:

people are noticing the progress on this project and now know you'll need a significant chunk to have a bank node. the price is rising and if you fail to buy now, you'll have a hard time getting a node of your own.

We will be taking down the exchange as well for the following few days -- max two weeks (you'll probably see it up at times, but you won't be able to register)

1) Adding stricter KYC/AML

2) Overhauling landing page to make it the BCR home page

3) Addition of Multiple pairs of currencies as well as fiat options

4) Addition of Visa Card facilities

5) Moving of severs to less restrictive territories.

6) Inclusion of BBD as a tradeable stock (we'll introduce a liquid version of it once enough has been distributed)

Please note, i am one developer, i occasionally get assistance but don't count on super high speed deployment.

note: if you have a worthwhile crypto, that actually has a developer and wish to see it added, PM me. Because later it will not be so easy for us to add currencies unless they are really awesome.

On the subject of Bank nodes, i am working out some details, but as you have probably seen in the code, i am looking at collateral values of anywhere between 50k and 500k BCR.

Having a bank node is an immense opportunity and also a very profitable investment, as a result the investment has to be such that it is high enough that anyone who wishes to do will do so in good faith because being a bad actor will always lose you money.

Allow me to give a moderate scenario :-

-You are mining daily (one of the few) and earning 20k BCR per week.

-Your mining has been earning you 0.03 BTC (at current rates).

And when the bank nodes become active you decide to buy the 250k BCR to have your own bank node and it costs you 0.5 BTC.

-Another 2 people buy 250k each.

-This will almost dry up the sell side of the market at these low prices

-Your node earns you between 1000 and 2000 BCR a week for processing tx, escrow and acting as insurer of large transactions.

Because of the pressure caused by the removal of a large swathe of total coins in circulation price is now 0.00003  ~ 0.00006

-your earnings from your bank node are 0.03 to 0.12 BTC per week per node.

- you used far less resources to get there

-you can earn more by performing more banking functions, potentially boosting your income significantly (depending on trust rating)


This is just a quick model using available data, things could be even better or worse.


Immediate effects

-The removal of coins from the market on such a scale by potential bankers may result in a price shock, that will likely cause a pump

-miners will flood here looking to make a profit, IMO this will be inconsequential  they haven't met that difficulty adjustment  


Rules that will be introduced to prevent market manipulation by bankers and/or dumping

1) Obviously high stakes to become a bank

2) The actual collateral tx will have additional rules imposed on it that will basically make it mature only once a year/6 months. This in effect means that becoming a bank is a commitment that you cannot back out off until your collateral tx matures.


Notes:

Your Banking collateral is just that. If you wish to perform functions such as lending and Insuring or participate in contracts you will need your own additional funding.

What about the Premine?

The premine is still in escrow waiting for me to finish up, but there are three possible scenarios for it

1) It can be burned (bad idea)

2) It can be put up for sale in parts (whenever market available coins < bank collateral)

3) It can be used to set up a large number of banks which can then be sold off as full bank nodes ready to go, the proceeds of which will be used to further development and start pushing more on the front of fiat trading/ mobile wallets and hire more coders.

Yes, in it's simplest form. Keep note that soon we will have a fiat solution for transactions.

So 2.1 million BBD = 210000 BTC

I may have found a viable means of rewarding our donors. Every day i will issue BitBond IOUs that will represent actual BitBonds, these will be signed using the banks keys, and the actual bonds will be issued a few days before the bank and exchange go live. BitBonds will be the first asset issued by the bank and will be honored as such. There are exactly 2.1 million BitBonds.

So far we have

kharon1985 -- 1 BBD

SockPuppetAccount -- 1.1 BBD

Total 0.21 BTC


BitBonds have a pegged value, their value will always be preserved.

Bitcredit MasterNodes Source Code

Hello all, today i uploaded the advance 0.30.20 code for technical users to review and test out.

This implementation represents the addition of masternode support, the intent is to use this existing structure and layer banking on top of it. Essentially Masternodes will become the bank nodes by default. This means that as soon as any person can match the criteria, they can have their own bank node. This is set to preserve the decentralized nature of the network.

Please note this is for review and is only going to be implemented once we are sure that this will work.

Enjoy your day.

A decentralized exchange is feasible, but i'd like to give current implementations a few more months so that they can be reviewed by professionals. They are definitely an improvement and headed in the right direction and would solve a lot of issues for us. One most immediate advantage i'd like to use is the ability to trade ANY crypto directly to BCR without risk of a middle man or exchange rate manipulation.


I fully see what you are saying, I am focused on a fiat platform for the the following reasons:-

Easy fiat-BCR conversion opens up a line of investment, the strongest.

Major investment comes from fiat, not bitcoin. If we truly want to be a serious venture, then within 6 months we need to open an avenue for fiat investments to come in. Try to think of it this way, if you could go online, pay your $100 dollar utility bills and just as easily purchase $6 worth of BCR to hold/trade or use, would it not encourage more investment due to ease?

Fiat investment also allows us to offset the effects of the pump and dump gangs who usually leave fledgling currencies in tatters. This happens because the sudden jump in price that can be caused by 10 BTC would send the market reeling, then as users jump in the fray at high prices, the 10 BTC buyer who bought the bulk at below 1000 satoshi, proceeds to dump. Immediate effects are a backlash (misdirected) at the project leaders, and later a lack of trust. Direct fiat investment offsets these effects because instead  of relying on the ultra hard to get BTC, people can buy small bits and pieces with as little as $5 and the currency will gain tangible real support.

I always lament how difficult it is to turn my euros into BTC then proceed to trade that for BCR or any other alt, or the reverse. Because if i could, everytime i go online to trade, i would buy maybe $5 worth. It's a insignificant amount, but if you consider a month that is $150, money  that most hesitate to just throw in, in one go. And if there are a hundred people investing an average of $2 a day, there would be a constant buy pressure of $200 a day, $ 6000 a month. if we plug in those numbers into the current market, you can see the huge difference it would have, and the biggest boon of this would be that it is actual support, conscious support in small amounts that accumulates and forms a strong base. This is fiat numbers at these low prices, can you imagine the actual support that would stem from people discovering this?

If we today tried to raise the required $1000 dollars for our mobile wallet in BTC, it is highly unlikely we would ever reach that amount in any meaningful time frame, however if we had fiat facilities, and 100 users who love their mobiles each gave $10 to the cause, we'd have the wallet by next monday.

The BTC funding scene is so full of scams, weirdness and dead promises, allowing ourselves to fall into that cesspit will result in failure. We need direct fluid migration of value between BCR and world currencies in order to attract users/investors. This is the very first step in expanding our user base. If we can prove this ease, then we can push real merchant and payment processor adoption. The moment it becomes easy to conduct business in BCR and to trade between it and any currency, be it digital crypto or fiat we will see immense gains.

If i had a reliable partner, we could approach this issue from both fronts because like you said a decentralized crypto-crypto exchange is ideal. i will keep thinking on this and maybe we can have a situation where we can satisfy both plans in the next two months.

Thanks for the support !!

Donated 0.1 BTC - TX ID 97f91a4198f08adafe17139817ce83dff06d0dc896cb4caf4b14df62eed379f3-000

Good luck !

kharon1985