Topic: Bitmark - page 138. (Read 622213 times)

Is it possible that there is a bot that crawls the web to find domain names that are not registered and register them? Seems plausible.

Like, *edited out*  is taken already. But if it wasn't, I wonder if it could get poached from me writing it there.

Anyway,

some domain suggestions:

*edited out*

The results of the Second Round of IPM testing have been distributed.

The final two rounds begun some hours ago.


I seek the communities input on some points regarding the above, please take the time to read it has significant bearing on Bitmark. Remembering that a 'Mark' is a unit of our currency, 0.001 BTM.

1. This project requires a domain name, I feel it will need to be short, do you have any suggestions? remembering that this will appear almost distinct from bitmark.

2. The process of marking must be as easy as possible for your friends and family, there are technical limitations on facebook / twitter / reddit which constrain our approach, urls are key, hidden behind a button when possible. Technical input on what we may reasonably do on each specific service is required.

3. Care must be taken to balance different communities of content creators and curators, whilst acknowledging that we must start somewhere that is not within the crypto community. Each Mark will have limited value to begin, so it should be considered more as fun or reputation rather than payment, yet still earned.

We can provide things which look nice for anybody with their own website, or blog, via plugins, widgets, and code snippets. Social platforms can use an url until later. Can we identify some good places/communities in which to start?

Some designers and developers have offered to help, and two servers have been donated to this side project. It has been a quiet, but positive response.

I completely agree, and this has been my biggest surprise so far.

One Week Old
One week has passed since Bitmark was launched. Here are some of our accomplishments since launch:

1. A smooth release with zero bugs reported on any platform.
2. An interesting and committed community has started to take shape.
3. The standard of discussion on the thread has remained exceptional over all 32 pages.
4. No Bitmarks have been sold, and we are not listed on any exchanges.
5. Multiple people have started contributing work, software, hardware, design, and ideas to the project.
6. Achieved a fair distribution of Bitmark to over 200 miners, with 70 on average at any time.
7. Network hashrate has been balanced between Solo Mining, two fair playing pools, and investor hired mining rigs.
8. We have introduced Bitmark P2Pool support to further decentralize the network.
9. Investor Public Mining (IPM) has been proposed, is being tested, and the proposal has had significant refinements.
10. 110,000 BTM have been created, and 1100 BTM have been donated to the Bitmark Foundation.
11. Bitmark's value proposition has been clarified.
12. The first of many novel plans focussed on adoption has been proposed.

It has been a good first week, thank you to everybody.


1. decide how much BTM you would like at production cost, it will average out to around 890 BTM per 0.1 BTC, or 0.00011500 per BTM.
2. send the BTC to 18rai2ichzUfXG6PVmUQLNPqBjtctnVRAD and inform me of your Bitmark address.
3. after 24 hours you will be notified of the exact amount of BTM generated on the first mining day in a full report.
4. a further 24 hours and you will receive your BTM from the first day, and receive the report for the second day.
5. the IPM Pool Test finished, and you receive your BTM from the second mining day.

Here is a the report from two shorter tests already carried out.
The total amount of space remaining for the test is 0.554 BTC.

UPDATE: The IPM Pool test is now full, please do not send any BTC, if you do I will treat it as a donation, use it to create some bitmarks and give them to all the people who have helped (and maybe buy a beer).

I created r/bitmark several days ago in anticipation that we may need it, it's there whenever people feel they want to.

There is still room on the IPM Pool Test, 0.554 BTC of space exactly which allows us to run the pool for a full 48 hours going through two difficulty changes and see how the network really reacts to it's presence.
I have been trying to hold off running it until more people join so that we can do an extended test, and consider how to handle the occasions when the rental contracts drift in to the next mining day.
[/quote]

Ok, what would be the next step if I want to buy in? Thanks in advance

Thank you. There is plenty of time to get involved, the block reward doesn't change for 18 months and when it does it only reduces by a quarter. No rush on this coin, let's do it right.

I would like to propose 'GetMarked' properly, a domain name for the project is required, and the obvious ones are already registered.


I created r/bitmark several days ago in anticipation that we may need it, it's there whenever people feel they want to.

There is still room on the IPM Pool Test, 0.554 BTC of space exactly which allows us to run the pool for a full 48 hours going through two difficulty changes and see how the network really reacts to it's presence.
I have been trying to hold off running it until more people join so that we can do an extended test, and consider how to handle the occasions when the rental contracts drift in to the next mining day.

Is there still some room to acquire some BTM by investing in the IPM pool?

Also, do we have a reddit for open discussion?
http://www.reddit.com/r/bitmark

Thank you as always for your support and kind words.

Adoption
Creating GetMarked will be enjoyable, I feel it is something my friends and family would use.

Reputation systems such as scores, karma, and likes have proven successful, Marks are a distributed reputation system which can follow a user around the web, and also real life. The novel part is that they are backed by currency, they are literally currency, the more the marking system is used the higher the value of each single mark. This adds a layer of competition and incentivization for users, they will compete for marks and watch the value rise. Natural milestones exist, to get 1000 Marks, and later 100, adoption milestones where a mark is worth a cent, then ten. Eventually marking something could be synonymous with paying for something. Marks are to be earned, each mark earned by an individual adds value to all.

Consider marks to be spendable karma, an amusing post on a social network could pay for your coffee, marking a video of the crisis in syria could pay for aid on the ground, marking an article about a mistreated animal could pay for it's shelter, and marking this idea could pay for it's creation.

If I can explain it's far reaching impact in under a minute, then getmarked has merit and should be a priority for our project.

Transitioning
The process of a business transitioning from Bitcoin or Bitcoin based currencies to Bitmark is not so ambitious, and not so hard.

The question of 'Why?' is the one we must answer with a list of things of things which earn and maintain value. There are early bird incentives for any business who may adopt and take profit in BTM, the profit margin on a pair of shoes today may pay for a new point of sale terminal later.

Many of the technical considerations are minimal to any business who already uses cryptographic currency, as bitmark is always based on the current release of bitcoin, it is completely compatible today and next year.

I agree that it is wise to start work on an executive level model, and something which answers questions like 'can we use the same address?' and 'will our ecommerce system work with bitmark?', the answers to which we know are no and yes respectively.

You can be sure that both the community and I will support you in creating the document, as you are part of the community and we can all see this kind of support is what drives the project.


The ability to do this in any manner for any set of currencies already exists, anybody can do it in any direction. The flow of currency from one to another is a natural process, each entity chooses to do it based on their sentiment towards the currencies in question at that time.

The purpose of IPM is to promote fair balance and reasonable stability in all areas of Bitmark, as each area scales.

Suggest anything you like, all input on any avenue of the project is greatly appreciated and makes for an interesting discussion thread.

If i may suggest something. In Nxt, we have a mining asset, which we buy ghs for life which mines btc and in the end of the week those btc is converted to nxt and paid as dividends. Can't we do the same?

Mark, I agree your theory is sound.

Also, I like the getmarked.com proposal, it is imperative that we promote Bitmark further.

I would also like to suggest that we begin documenting a proposal for the transition form Bitcoin to Bitmark. This is a very ambitious plan, but one that is necessary. The future of the crypto depends highly on ease of use. From small to large scale, secure and fast transactions, the Bitmark model is better adapt for commercial use. I will begin a proposal for this transition, as I do believe an enterprise / executive level model will be necessary for businesses to transition to Bitmark in the future (1-3 years). I would greatly appreciate the communities input, as well as your thoughts on this Mark.

Thanks,
Medic

Miners and Investors
This is a proposed modification to the Investor Public Mining (IPM) Pool
The IPM Pool allows investors to indirectly provide up to 35% of the Bitmark Network hashrate through renting miners. Allowing investors a chance to acquire BTM at a price close to that of production.
IPM's variable hashrate according to difficulty provides a range of benefits to users, developers, miners and investors, whilst balancing their needs in a fair manner. It is discussed in the document in greater detail.

A key detail of the IPM Pool is that it relies on rented hashing power.

This modification allows for the IPM Pool to directly hire fair mining entities who wish to support the Bitmark network, and provides a revenue stream for them which should be more profitable than using existing multipool or switching pools.

Let us consider some example figures for a 100MH/s mining rig.

Mining Rig Running Cost: 0.0007500/MH/day (0.075 for 24 hours)
Rental price to the IPM Pool: 0.001/MH/day (0.1 for 24 hours)

Instead, the IPM Pool will rent the mining rig for 32 Hours at the running cost of 0.0007500, providing you with the full 0.1 BTC required to operate the mining rig for the period.

a) For the first 24 hours the mining rig is run on the Bitmark IPM Pool.
b) For the remaining 8 hours it is run on a secondary standard Bitmark pool.

The BTM generated under pool (a) follows the IPM proposal, with 4% to the bitmark foundation, 96% to the investors.
The BTM generated under pool (b) is split 3% to the bitmark foundation, 97% to the mining entity.

The Bitmark Foundation receives the same daily donation as 5% under the current proposal. 0.25% of total supply over 280 days, capped at 70,000 BTM.

This allows miners to cover all of their mining rig costs in BTC, whilst taking all profit in BTM.

If a percentage of the BTM generated by the miner (or for a syndicate, operators and investors) needs to be moved in to another currency, then that creates some downwards pressure on the bitmark markets.

This downward pressure is good, as it stops the market price from drifting too far from the production cost, allowing users and non IPM Pool investors to acquire some BTM at a fair price too.

The 'price-tag' of the Bitmark will then be pinned within a reasonable variance to the 'production cost', both of which would be determined by the network difficulty.

The network difficulty is then a measure of demand.

The demand is the remit of the Bitmark Foundation and the Community, both of which are supported greatly by the balance of investors and miners created by IPM.

I feel this balances the interests of everybody, and makes both the price-tag of BTM and the bitmark network harder to manipulate by bad actors.

As demand for bitmark grows, so does the difficulty, which enables the IPM Pool to hire more miners and bring them in to the fold as fair miners.
The investors gain because production cost rises pushing the price on markets upwards towards the increased production cost.

All of the existing benefits of IPM are then magnified greatly.

The real figures will need to be calculated, if you all agree that the theory is sound and that it is an interesting proposition.

Any help would be greatly appreciated. Took everything me and a friend had and brought 35mh on a hope and prayer.. our goal is to keep adding more machines.

Juston Point, and all fair miners.

I have been speaking to a group of syndicate miners, I think we have a solution which will help all of you financially, and our growing community.

After checking the details I will propose it here soon.

Just want to think the person who rented our miner. Thank for showing us the future. As soon as there done they will become part of the community..

Calm before the storm. I feel ozone in the air.

Get Marked

From IRC

What do you all think of this?

I invested 0.2 BTC into ITM pool.

Transaction ID:  https://blockchain.info/tx/ce8502b2b7f5a2d58b2f1c0d25f19248ceb12b87a01de0be18e5c40dd781e244

The miningrigrental statistics show that the first 50 minutes were not so great. The CGminer log however does not show more rejects, or hardware errors, it actually reports around or slightly more than 29MH/s.