Topic: Bitmark - page 68. (Read 622213 times)

It's a lot less dangerous with the difficulty stuck as high as it is right now, as the cost to attack would be quite significant relative to other altcurrencies.

Right now there's no incentive other than speculation anyway, and people can still do that on Poloniex if they wish. One way or the other it will get resolved sometime in the near future. Either economically by demand increasing naturally as things are developed, or putting a buywall at a price sufficient for miners to mine. Or technically through a hard fork to a new algorithm as a result of the research being done by dbkeys, leathan, and ecucoin on their Pfennig fork's blockchain('zmark').

But there is less incentive to use it and hold it when it's possible that the chain could get stuck with no one to mine it.

Also, a low hashrate or one or two pools having all the hash could be somewhat dangerous if there were significant buy orders.  Any thoughts on merged mining?

I've PM'd you about your btm get back to me plz

Fair enough, I'm currently wasting my time mining BTM. Since there is currently Me, 2 single gpu miners and a cpu miner (yep a cpu miner) on xHash, I'll wait till I basically solo the next block and hit the road.  PM me when promises turn into reality and I'll come back.

I don't think it's 'fine'. But I also know that it's less important than getting people working on Bitmark and marking and getting an actual product(s) out there. If there's nothing to use, then whether BTM functions properly at all doesn't make much of a difference. But Mark mentioned in Slack a couple of days ago #general that he's working on coming up with a way to get a wall on the market that will restart BTM mining and getting the Bitmark Foundation funded and actively contributing to making things happen. So I'm confident that he's working to address both of these issues right now at the same time, BTM/mining and marking itself.

Este, you win, I give up.  If I can't make anyone with power around here understand my point, I'm wasting my time.

If you think it's fine for it to take 2 days to make a simple BTM transaction like depositing or withdrawing coins from an exchange, then it's fine.  If you think it is fine for Bittrex, IMHO the best exchange out there to toss your coin on the scrapheap, then it's fine.  If you think it's fine for the diff to be stuck at 1953 for another 6 months, after all you are not interested in miners or the effort they put in to support the coin, then that's fine.

I did promise to support the coin with my miners until the end of the month, I'm currently about 1/3 of a miserable 200 odd mh/s.  When I go that 6 months may be 9 months.

One last question, you never did tell me where all the BTC for price support would come from.  According to coinwarz, you would need to triple the current value to make mining BTM comparable to mining LTC (at the current diff, which isn't going anywhere in a hurry).  That's a lot of BTC and it's not like you can sell BTM to get it...

Someone dumping on Bittrex wouldn't result in much of a change as the price would readjust to whatever the market felt was a fair value at that time.

Plus hopefully Bittrex will delist it soon and we can have Poloniex again as the central point of trade. Having a thin market with no volume like the one on Bittrex doesn't add much value imo. In the future when there's demand and volume I'm sure Bittrex will have no problem readding BTM if needed.  

And who is going to provide this BTC? Or in reverse, at the moment, less than 1 Bitcoin worth of BTM would crash the price on Bittrex to 1 satoshi.  $200 would currently turn BTM into a worthless coin.  I think a few of you slept through Economics lessons at high school..  If it has no value, no one will use it. 

Thing is with Bitmark all our intended significant usage is meant to happen off-chain anyway. So in the very short term it's not really going to matter. Getting people mining it is as simple as putting up a sufficient amount of BTC at whatever price it takes to make it profitable for miners.

No change in the algorithm yet, as we've yet to really go through a period of demand to see whether it will perform as intended. But there are people working on a new chain right now testing some potential changes if necessary.

I somewhat disagree with this because use encourages development and can cause excitement.  A stuck chain limits use.

I haven't been following this coin much.  Did the devs update with a fix for difficulty retargeting when we do cross 468xx?

You mean Melvin, not Mark right?

Personally I don't see marking as tipping at all. At least I don't plan to integrate marking in to my platform as a form of tipping.

You can literally hand them 20$+ tip and they will spit at you and walk away.

Now if you explain to them that you are paying them those 20$ they will smile and say come again.

Obviously I thought this was crazy and every time i go to china i try and tip everyone... so far only the taxy drivers accept because theyve managed to learn in our culter a tip is just a way of saying you really liked something. Or maybe they hate that you really liking something means they need to accept your money.

But the point is that both btc AND tips are incompatible with a web salable marking system

A marking isnt a tip just because a tip can be a marking to you. Try having your marks pop up on the chinese filters. It wont happen because that 33% of the planet thinks so much as the word tip is an insult. you see there is a HUGE DIFFERENCE between a tip and a marking.

To everyone who lost money. really? 6 months?... i think thats a VERY lose definition of the term investor.

Really I'd rather no one lose money but guys snap back to bitcoin 8 months after the paper.... what was the price again?

Just relax look at the graph tuns and tuns and tuns of trades that represent people fighting over a price only to realise woa... hey.. wait.... we actually give it value ourselves.

Mark is right though, what's the point of continuing with BTM while we can tip people on FB/Twitter and such?

Marking = tipping, whether you like it or not.

People aren't renting miners because there's no point in renting miners. A lot of people don't see the network as a problem right now, as reduced supply is a good thing while things are still getting going.

I think the network will be fixed through a market based solution rather than through renting a bunch of hash. Renting hash is a temporary solution, but a healthy market with people buying marks is a long term one.

Seems everyone has their own different interpretation of what's going on from what Mark has said.


Not sure how you see any sort of move towards centralisation. I had been saying since Mark was sick that we should try to get everything that the project needs out and on paper so we can begin to break it down in to manageable steps and tasks. Getting more people who want to be involved working on things will help decentralise the work load. We saw how things ground to a halt and how quiet it was when Mark was sick. I'd rather have a technical description of what it's going to take to make marking a reality out there and not just in Mark's head, so that people can work together to make it a reality.


Well half of the coins from the last low difficulty phase are already mature so I doubt another 7k BTM maturing is going to have too much of an effect on the market. If it was a single person and they sold it all off immediately or something then maybe.

Gunther, I feel your pain.  I promised earlier to support the coin with all I have until the end of the month (100mh/s now down to 75mh/s due to a dead g-black, I don't imagine GAW will support any warranty claim, oh well)...  As a large bagholder with a friend who holds a similar stake, around 40K BTM between us, I really don't know what to do.

Do I/we sell up, cut our losses and crash the coin to 1 satoshi?  Look at the Bittrex buy book. 40K BTM would do that.  Or do I hope that Mark and friends pull their fingers out and come good on some of their visions/promises/timelines,call it what you will.  Devs, time to step up to the plate or by this time next month, BTM will be a memory...

***  Of course to move coins to an exchange you need a moving blockchain.  Which currently isn't happening. It appears there are 3 people mining BTM (myself included).  ***  Imagine the crash and burn when this round finally finishes and all the multis and whales try to dump the coins they mined 3 months ago.  If that doesn't kill the coin, nothing will..

EDIT: Just thought of something. Why aren't the devs and fanbois on slack mining this coin?  Either with their miners or rented hash? Surely that would be the first thing they would do to support the coin, unless??  No I don't wish to be part of the slack group. What's the point? Obviously nothing happening there...  Fuck, I'd like my donation back, think it was ~ 0.25 BTC back when the project was exciting and BTC was worth something.  Oh well, it was a donation - should have given it to the Salvation Army or such like Live and learn but the clock is ticking........

So, you are actually saying that a more realistic price would be 10k? Damn, I really expected this to pump again, after all this fud and negativity.

Apart from melvin being a bit of a CT fanboy and his valuation, I agree with everything else. If that excel sign up sheet was presented a few months ago I would have been the first person signing up to help, but now I simply don't trust the project. I know this is supposed to be decentralized etc., but you need to make sure the project is on solid ground before you let it take off on its own and thats simply not the case yet. I know you say price doesnt matter, but it does ... A lot of people were super excited and put a lot of time and money into BTM (via speculative investment, mining at a loss etc., development, reaching out to platforms that might utilize marking) and all they have to show for it is silence and a strategy pivot that favours larger investors and centralization ... That's not right. Anyways, Im still here, but Im taking a step back and approaching this project much more cautiously, if and/or when we have proof that things are still moving forward i'll get more involved. Anyways, good luck moving forward, and hopefully BTM gets back on track sooner than later.

Edit: oh and I can't say I agree that tipping is more or less equivalent to marking ...

Edit: I did not know ct is open source sorry for my ignorance.

that said


Why don't you go work with ct and help tipping with money go viral? or is that what you are doing here.. marking is NOT tipping... and if you cant understand the difference go to china, walk around and talk to them about MARKING and about TIPPING. Talk to them about MONEY and about MARKS and see if they notice a difference.

That's 1/3 of the world.. maybe there really is an INCOMPATIBLE difference between the two?

You need to understand the mere mention of that word is VERY OFFENSIVE to some peoples in the east, and often SPECIFICALLY those you THINK you are "helping" by "tipping".