Bitmark - page 123. | Bitcointalksearch.org

Cryptocoinrank.com

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█ ★Bitmark (BTM) █→ Now Live on: http://www.cryptocoinrank.com/Bitmark

Hope you and the community like it. For a brief description about www.cryptocoinrank.com see: https://bitcointalksearch.org/topic/annwwwcryptocoinrankcom-for-sale-for-sale-for-sale-579901

Enjoy

Este Nuno

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amarha

Quote from: johndec2 on August 03, 2014, 08:07:20 AM

Quote from: Chronikka on August 02, 2014, 09:11:46 AM

Isn't the coin stable already? It works to store value and send transactions. What more should the currency do? I think you are confusing stability of the coin with stability of the price.

When people are willing to sell a coin at a price lower than what it cost to produce the coin, that is neither stable or healthy. Think it through. Take off the ideological hats and think like a capitalist. After all, cryptocurrency is capitalism at its most vicious. If you want to play in this sandpit you have to think like that. Low price = low demand = low interest in spending resources on procuring the coin. Coinsolidation has even been regularly posting the net hashrate so I know he is watching it.

No value = no miners = no coin. Yes, I post here as a pragmatist not an idealist but only to balance out the daydreamers. Take the advice or leave it. Either way, I won't post any more here on the subject.

How many Bitmark's have been sold under the cost of production? Not really that many, a few thousand at most? I haven't gone through the market with a magnifying glass but I can imagine someone with free electricity doing it or perhaps a need for quick BTC.

If someone is willing to sell at whatever the current bid is then clearly they're not concerned with what price they're getting. It doesn't really give us any information other than that.

You'll notice now that due to that person or perhaps two people, there are now around 1.5 btc in buys sitting there waiting for this person to sell again. If they're willing to do that then it's great for anyone putting their orders up to catch those sells.

95% of the people who want to accumulate BTC are doing it by mining. Being able to pick up the odd 1k BTM from someone who just clicks sell doesn't provide nearly enough supply to change the fact that mining is the cheapest way to acquire BTM. If tens of thousands of BTM started being sold at well below the current production cost then there would be adequate supply to incentivise people to put their money towards buy orders. But until then nothing of note has really happened imo.

johndec2

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Quote from: Chronikka on August 02, 2014, 09:11:46 AM

Isn't the coin stable already? It works to store value and send transactions. What more should the currency do? I think you are confusing stability of the coin with stability of the price.

When people are willing to sell a coin at a price lower than what it cost to produce the coin, that is neither stable or healthy. Think it through. Take off the ideological hats and think like a capitalist. After all, cryptocurrency is capitalism at its most vicious. If you want to play in this sandpit you have to think like that. Low price = low demand = low interest in spending resources on procuring the coin. Coinsolidation has even been regularly posting the net hashrate so I know he is watching it.

No value = no miners = no coin. Yes, I post here as a pragmatist not an idealist but only to balance out the daydreamers. Take the advice or leave it. Either way, I won't post any more here on the subject.

coinsolidation

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Quote from: bitcoinwonders010 on August 02, 2014, 04:46:36 PM

27.58million coins max

Correct, the full release schedule and also a comparison of the currency supply of Bitcoin, Bitmark, and Litecoin

bitcoinwonders010

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27.58million coins max

coinsolidation

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John and others, thank you for your continued support, I hope I can address any concerns you may have.

First let me say that John's plan is shared by all, and then immediately get to the crux of the matter:

Quote from: johndec2 on August 02, 2014, 07:14:58 AM

Whilst I admire all the effort and dedication going into the coin and the getmarked project (so much that I actually donated to the project), can someone please explain to me why?

I sincerely hope that text above helps you answer this for yourself, if it does not please do ask further so that we can seek to clarify. I must however qualify that with our ethos "This isn't about short term profit, any value given to Bitmark will be a reflection of it's adoption and usefulness over time".

Warmest Regards,

Mark

Chronikka

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Quote from: johndec2 on August 02, 2014, 07:14:58 AM

Whilst I admire all the effort and dedication going into the coin and the getmarked project (so much that I actually donated to the project), can someone please explain to me why? At the moment, one whole Bitmark is worth less than 6 cents, a Mark is worth 1/1000th of that, less than I spent on electrons to type this post.

Is the time being well spent? I can understand the challenge of creating getmarked from an idealistic point of view but if getting marked has no value, it will not be adopted. Either the value of a Mark has to be increased compared to a Bitmark or the value of a Bitmark has to increase or preferably both to make the project feasible. Has anyone done a cost to benefit comparison? Would the time at the moment be better spent promoting the coin? After all, getmarked was never part of the original plan, it is an afterthought. A good one, I'll admit, but an afterthought.

Current plan: Do something really clever, hope people like it and the coin becomes accepted and valuable.

My plan: Create a stable and workable coin (as per the original idea) and then add something to make it even more appealing.

Isn't the coin stable already? It works to store value and send transactions. What more should the currency do? I think you are confusing stability of the coin with stability of the price.

We have already reached the point of adding more to make the coin more appealing. The coin functions like it should, there is nothing to stabilize. Getmarked is the first major project being taken on to promote usage of Bitmark. If you have another idea then promote it here.

Este Nuno

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amarha

Quote from: johndec2 on August 02, 2014, 07:14:58 AM

Whilst I admire all the effort and dedication going into the coin and the getmarked project (so much that I actually donated to the project), can someone please explain to me why? At the moment, one whole Bitmark is worth less than 6 cents, a Mark is worth 1/1000th of that, less than I spent on electrons to type this post.

Is the time being well spent? I can understand the challenge of creating getmarked from an idealistic point of view but if getting marked has no value, it will not be adopted. Either the value of a Mark has to be increased compared to a Bitmark or the value of a Bitmark has to increase or preferably both to make the project feasible. Has anyone done a cost to benefit comparison? Would the time at the moment be better spent promoting the coin? After all, getmarked was never part of the original plan, it is an afterthought. A good one, I'll admit, but an afterthought.

Current plan: Do something really clever, hope people like it and the coin becomes accepted and valuable.

My plan: Create a stable and workable coin (as per the original idea) and then add something to make it even more appealing.

Someone is attempting to manipulate the price to buy cheap coins by putting 1 or 2 BTM for sale at the buy rate to make it look like there is no spread. And apparently it just worked out for them surprisingly.

The price tag doesn't really have much effect on anything really.

But in the short term these are a few things that are happening now:

- bitmark.co website
- IPM
- discussions on how to expand our outreach efforts and get more people aware of the project
- and more mentioned here in Mark's overview post on reddit: http://www.reddit.com/r/Bitmark/comments/2cbwgj/project_bitmark_status_overview_1/

Any other suggestions of things we should be focusing on in the short term?

As far as one Mark not having any appreciable value at the moment, some people are suggesting that it's not a bad thing to introduce Marking as something that mainly counts as reputation now, and gradually becomes currency over time. Lots of discussion in IRC going on about how we want to approach that at the start. Plus it's not like you can't just mark something you like with thousands of Marks if you deem that it's earned them.

johndec2

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Whilst I admire all the effort and dedication going into the coin and the getmarked project (so much that I actually donated to the project), can someone please explain to me why? At the moment, one whole Bitmark is worth less than 6 cents, a Mark is worth 1/1000th of that, less than I spent on electrons to type this post.

Is the time being well spent? I can understand the challenge of creating getmarked from an idealistic point of view but if getting marked has no value, it will not be adopted. Either the value of a Mark has to be increased compared to a Bitmark or the value of a Bitmark has to increase or preferably both to make the project feasible. Has anyone done a cost to benefit comparison? Would the time at the moment be better spent promoting the coin? After all, getmarked was never part of the original plan, it is an afterthought. A good one, I'll admit, but an afterthought.

Current plan: Do something really clever, hope people like it and the coin becomes accepted and valuable.

My plan: Create a stable and workable coin (as per the original idea) and then add something to make it even more appealing.

coinsolidation

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Bitmark Developer

Quote from: Androidicus on August 01, 2014, 09:17:43 AM

...and per majority of Bookmakers: "Make your first deposit of 100 Marks and we'll double it up!" etc. Encourages acquisition in the first instance then usage...

On another tack, iro Marking:

http://www.tripadvisor.co.uk/
http://www.ratedpeople.com/
http://www.trustatrader.com/

Aspirations of "Marking" adoption!

Well noted, thank you!

Some others which I may have forgotten to document as yet:

Competitions.
Each person in a competition can be voted by marking, every competition entry gains a reputation+money reward for every vote received, it's almost a prize in itself.

Democracy.
Consider the Bitmark Foundation in the future, it will need community representatives, each one can be democratically voted in by marking, which also gives them a reward for the work they will do. Further actions they do can be marked, adding tot heir reputation and earnings.

So much is enabled by marking, it's just giving reputation+money with a simple click.

Androidicus

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Quote from: coinsolidation on August 01, 2014, 08:51:29 AM

Quote from: Este Nuno on August 01, 2014, 08:45:27 AM

Quote from: coinsolidation on August 01, 2014, 07:44:52 AM

IRC channel promotion: tipbot, quizbot, trivia, marks give-aways, irc channel promo on other channels - https://trello.com/c/3lwwcU5z/31-irc-channel-promotion

Giving tips when you feel somebody has earned them (marking) by IRC sounds great.

It may be a fault of mine but I see little merit in novelty things, it's good to have other people around to balance this.

What benefits come from quiz bots and trivia?

What benefits come from give-aways?

My only point is that marks are reputation, to be earned, that gives them their value. To give them away freely (unless to enable usage), feels like it may be detrimental?

Well winning them via a trivia/quiz bot would count as earning I think. And giving some away to new users would fall under the enabling usage category I think.

Reasonable, perhaps we enable marking in some simple ways, then give-away marks for people to use?

...and per majority of Bookmakers: "Make your first deposit of 100 Marks and we'll double it up!" etc. Encourages acquisition in the first instance then usage...

On another tack, iro Marking:

http://www.tripadvisor.co.uk/
http://www.ratedpeople.com/
http://www.trustatrader.com/

Aspirations of "Marking" adoption!

coinsolidation

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Bitmark Developer

Quote from: Este Nuno on August 01, 2014, 08:45:27 AM

Quote from: coinsolidation on August 01, 2014, 07:44:52 AM

IRC channel promotion: tipbot, quizbot, trivia, marks give-aways, irc channel promo on other channels - https://trello.com/c/3lwwcU5z/31-irc-channel-promotion

Giving tips when you feel somebody has earned them (marking) by IRC sounds great.

It may be a fault of mine but I see little merit in novelty things, it's good to have other people around to balance this.

What benefits come from quiz bots and trivia?

What benefits come from give-aways?

My only point is that marks are reputation, to be earned, that gives them their value. To give them away freely (unless to enable usage), feels like it may be detrimental?

Well winning them via a trivia/quiz bot would count as earning I think. And giving some away to new users would fall under the enabling usage category I think.

Reasonable, perhaps we enable marking in some simple ways, then give-away marks for people to use?

Este Nuno

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amarha

Quote from: coinsolidation on August 01, 2014, 07:44:52 AM

IRC channel promotion: tipbot, quizbot, trivia, marks give-aways, irc channel promo on other channels - https://trello.com/c/3lwwcU5z/31-irc-channel-promotion

Giving tips when you feel somebody has earned them (marking) by IRC sounds great.

It may be a fault of mine but I see little merit in novelty things, it's good to have other people around to balance this.

What benefits come from quiz bots and trivia?

What benefits come from give-aways?

My only point is that marks are reputation, to be earned, that gives them their value. To give them away freely (unless to enable usage), feels like it may be detrimental?

Well winning them via a trivia/quiz bot would count as earning I think. And giving some away to new users would fall under the enabling usage category I think.

coinsolidation

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Bitmark Developer

Project Bitmark Status Overview 1

Este Nuno

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amarha

Quote from: coinsolidation on August 01, 2014, 05:27:01 AM

If we can agree that it is good to provide, then it can be made. Then later we can see how the settings perform, and adjust it if necessary. Fair?

Sounds fair to me.

coinsolidation

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Bitmark Developer

IRC channel promotion: tipbot, quizbot, trivia, marks give-aways, irc channel promo on other channels - https://trello.com/c/3lwwcU5z/31-irc-channel-promotion

Giving tips when you feel somebody has earned them (marking) by IRC sounds great.

It may be a fault of mine but I see little merit in novelty things, it's good to have other people around to balance this.

What benefits come from quiz bots and trivia?

What benefits come from give-aways?

My only point is that marks are reputation, to be earned, that gives them their value. To give them away freely (unless to enable usage), feels like it may be detrimental?

coinsolidation

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Bitmark Developer

If we can agree that it is good to provide, then it can be made. Then later we can see how the settings perform, and adjust it if necessary. Fair?

Superxfast

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Quote from: Este Nuno on August 01, 2014, 03:29:08 AM

Quote from: pabloangello on July 31, 2014, 06:15:39 PM

Quote from: coinsolidation on July 31, 2014, 05:58:32 PM

I think I have a solution, completely optional and variable donations.

For the IPM Pool I will add the following interface instead:

percentage BTC donation to current development [slider 0-100]
percentage BTM donation to future development [slider 0-100]
enter btm address [ ]
[ place btm order ]

This is simple.

Each person when using the IPM pool to acquire BTM at production cost, can slide a % amount to contribute - with no pressure, and anonymously - to either current development (BTC for now), or future development (BTM to the foundation)

This is not an immediate fix to pressing matters, it does potentially solve the funding issue for say next month onwards.

Sounds risky but reasonable at the same time.

I agree that it's risky.

I suggest making the slider a minimum of 5% as was the original intention.

I do like the idea that people can contribute more than 5% though.

+1

Este Nuno

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amarha

Quote from: pabloangello on July 31, 2014, 06:15:39 PM

Quote from: coinsolidation on July 31, 2014, 05:58:32 PM

I think I have a solution, completely optional and variable donations.

For the IPM Pool I will add the following interface instead:

percentage BTC donation to current development [slider 0-100]
percentage BTM donation to future development [slider 0-100]
enter btm address [ ]
[ place btm order ]

This is simple.

Each person when using the IPM pool to acquire BTM at production cost, can slide a % amount to contribute - with no pressure, and anonymously - to either current development (BTC for now), or future development (BTM to the foundation)

This is not an immediate fix to pressing matters, it does potentially solve the funding issue for say next month onwards.

Sounds risky but reasonable at the same time.

I agree that it's risky.

I suggest making the slider a minimum of 5% as was the original intention.

I do like the idea that people can contribute more than 5% though.

Androidicus

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Quote from: coinsolidation on July 31, 2014, 07:30:46 PM

Quote from: Androidicus on July 31, 2014, 06:26:21 PM

I think this is a great idea - but, here's the thing; I have a relarively small amount of hash power - a few months ago it would have been impressive, six months ago; collosal!

I can split this hash power because of the hardware - approx 60/40 - ok, I'm earning BTM, not stacks but more than happy. Becasue I don't have BTC to use the IPM but can point some of my hash power at a multipool I can direct some BTC to the pot in that way instead of my BTC address...

I am tired - is my thinking skewed?

It is my fault for not being clear.

With this approach you could set the BTC donation to 0-100% and do as you say.

A typical pattern may be to mine at a multipool, have the BTC exit to the IPM, with your donation amounts set up, so that you get BTM and donate and profit and mine. All entirely automated.

Of course - we discussed this in IRC leading up to the IPM announcement document... doh! Roll Eyes

Topic: Bitmark - page 123. (Read 622213 times)