Topic: Bitmark - page 72. (Read 622213 times)

I agree with the concerns of others on the state of this coin.

It would not be hard to fix the mining issue so I cannot understand why it is not being done. Hard fork in 50 or 100 blocks and add KGW or DGW, done. At the moment it seems leaving it broken is the intent of the devs.

I fear if it is not fixed soon it will be too late.   

nicos shifted pool to hash to coins as xhash is closing in a few days time. we have increased machinery to 320mhs at our cost so the network doesn't fail. cant keep it up forever, but for now we continue.

Valid points are being made here. Something indeed must be done about the stagnation in respects to mining. As said, a side chain is created to test out potential algorithms for a better difficulty adjustment. However, a blatant reduction of difficulty without adjustment of block reward would result in a to high coin production. This would result in a stable supply regardless of demand (the thought is that when demand goes down, mining goes down), which in turn would diminish the coins value. In order to control for demand in some way this test chain is set up and people are testing various things out. The basic idea is to stabilise the block time, whilst adjusting the block reward to control for demand. I don't know the details and technicalities but I do know they are working on it. First results are in, and what they tested now adjusted fine to the upwards side, but very slowly downwards, tweaking is on the way.

Hopefully I have not shared anything that is not true, but this is how I came to understand what is going on.

I do try to keep this thread updated. I believe I've posted about the various things that have been going on. But if someone feels that I've missed things, or don't give enough detail I'll try to improve on that part. I never intended to ignore people here at all.

No, it's integration specific. So you can set it up whichever way you'd like for your own website or whatever. You can also use different algorithms if you plan on emphasizing the reputation part of it. I think we wanted to have a repository of algorithms and such so that people could just choose whatever one they thought would work well for them if they felt they needed one.

In some cases like perhaps a charity, the reputation aspect might not matter as much(or it might, it depends on the way they want to do it) so they might just integrate marking as a way that people can mark and transfer value to whatever cause they deem worthy.

Well.. It is good to hear something is happening but any coin that ignores the BCT community does so at it's own peril.  Most people get the bulk of their info from a BCT ANN thread.  I've been around crypto for a while and just about every coin that has ignored it's BCT following has perished. Is it so hard to keep us poor fools updated about what is happening behind closed doors?  One update a week would ease a lot of minds. Too much to ask? 

I could send you an email address and get the latest. I probably will.  Or would a regular update here be smarter?  It would certainly ease the minds and inform everyone (traders included). The coin is withering on the vine due to lack of information. Do you really want thousands of people joining your slack group just to keep up?  Or would it be easier to keep us up to date here rather than overloading your slack group.

The devs could learn a lot by the way CCN conducts business.  They have their own forums/groups but they keep their BCT followers updated.  Despite what I thought would be a fatal change to POS, the coin is thriving as everyone,everywhere knows what is going on.  Food for thought?

Is "mark"/"marking" reserved for the reputation score only?  So that regardless of the amount of bitmarks given by any individual to another, it is the specific act of giving them (i.e., each transaction) that counts as one "mark"?

 

Slack isn't supposed to be any sort of clique at all. It's open to everyone. Send me your email and I'll invite you right away.

In Slack in channel #pfennig we have people working on the new test chain that was launched recently with the intention of testing out new algos. I'm sure they would love to have your input.

Rant on/

What is going on here?  I know I've been a bit quiet here lately as I have had other projects/distractions but when even Nicos gives up on mining BTM, I know this coin is in trouble. I'm not part of the slack clique as I have never been invited but looking at what is going on here at BCT (or rather not going on) it appears there is a severe case of "Fiddling while Rome burns".

Mining of BTM has slowed to a crawl, a few gpu miners on xHash and about 300mh/s on hash-to-coins... At this rate it will take months to the next diff change where will have 6 hours of madness and another 6 months of doldrums at 1953 diff.  THIS is unsustainable.  Dig a grave and bury BTM now.

Unless the clever people in the dev team and/or slack come up with a better solution SOON, this coin will go the way of so many others, which will be a massive shame as it is a brilliant concept that appears (to me) to be badly implemented.  You either need to work out a way to increase the mining on this coin or change the diff parameters to make it more friendly to a lower hash rate.  It pains me to say that as I want the acquisition of BTM to be as difficult as possible but if the demand is just not there, there is no alternative.  

Before you all chip in with roadmaps, etc, don't waste your breath.  We need action not "pie in the sky" plans.  To put my money where my mouth is, I've moved everything I have to Xhash (around 100mh/s) and will leave it there until the end of this month.  I will be mining at a significant loss compared to mining just about everything else, especially considering the current depressed price.  Speaking of the depressed price - the market is speaking, it is a massive vote of no confidence in the non-action of the dev team and the failed implementation deadlines.  WOW, marking on Polo... that was fun for about a week until everyone forgot about it....

If I don't see some positive action by the end of the month, I'll dump my BTM, cut my losses, and move on.  If I was to dump my over 15,000 BTM on Bittrex now, the new price would be 2 satoshis. This is not a threat, just the pleas of someone severely pissed off by the waste through inaction of what should be the best altcoin around.

Rant off/

PS: Clean up the OP. Most of the pools listed are dead.  Or even better, breath some life into the coin so that we can replace the dead pools with live pools.

PPS: Like the poster here: https://bitcointalksearch.org/topic/m.10031495  I too donated to the cause.  Mine was a donation but I was led to believe it would be converted to a loan, so confident was everyone back then.  Like him, I've seen nothing.  Don't worry about me, I originally gave not lent, but it is very poor form not to pay your promised debts.

+1

Initially I'd have reacted in the same manner as Danny, but I've got to agree with you. Indeed, I think your viewpoints are valid and offer an important perspective for others. It's easy to become starry eyed about projects but sometimes optimism isn't what's needed, but a cold shower is. Anyways, I hope you stick around to keep us grounded.

Don't think there is a need to only post positive. From a outside view it looks Bitmark is a great project,
but there is not much touchable and also i'm doing hard to understand the whole concept of Bitmark.
Don't know how highly frequented the slack channel is, but a.e. in bitcointalk it looks like there is not
so much activity (which is first without an assesment). Maybe too less people even know about Bitmark, but
i think also because most people only see a scrypt clone coin.

However Bitmark is one of the few coins, which are looking really interesting.

All of my observations are public and accurate.  But dont rely on my words, check for yourself.  The metrics I mention are things that should be tracked.  You should be tracking the roadmap and the trello board and the git repository.  

Coinsolidation made a bet that there would be 'easily' 1000 daily active markers by xmas.  As things stand the only daily active marker I know of is me.  Not even mark or amarha or medic marks daily, I do.

So your free to ask me to leave, and I'll consider your words.  

If you want me to post only good news, why dont you create something or do some marking.  I've tried to be as positive as possible about this project, but I think it's intellectually honest to tell things as they are, and the community relies on each other to do so.

I dont log on here frequently, but if you PM me I can try and help.

I have some BTM on trex, but I'm not going to dump my btm into the 30k's

What BTM really needs is a solid, fast coder with a lot of BTM (motivation) to release some marking apps/platforms, ASAP. There are plenty of us eager to use/market such a platform to the crypto community.

Instead of waiting for someone else to do it - The price is currently very attractive for such a person to get onboard, or increase their stash and get serious about releasing something in the next 3-4 weeks.

For just $5k or so, you could control 5% of the active supply (which won't be increasing much unless the price goes up enough to adjust difficulty, about 5x move required) or more. Since BTM is SO illiquid, it would take very little to move the price up 3x+. Anyone want to make an easy ten grand?

We seem to have several capable and interested in the project. Why not pull the trigger? If I was a capable coder, I certainly would.

Plus, there are probably several willing to pitch in for hosting fees, etc including myself. There's a nice 9 BTC sell wall below the mining breakeven for sale at 0.00053. I would be willing to make some deals around market prices for the right person as well.

I am just pointing out the opportunity to "buy into the team" right now - CHEAP. This would essentially put you in the position of "CTO" of BTM with plenty of equity in the "business" - which already has a great team in place, just needs someone to get the ball rolling and tie things together.

Happy New Year  

Yeah, I've moved my trades to bittrex, but hope more people join in. De-listing hurts a coin

C'mon folks move some coins.. And Happy New Year!  $BTM = BeatEm

I agree, I'm excited to get back on track. Everyone got a nice break over the holidays and now we can pick up where we left off.

His comments had nothing to do with Mark being semi-away over the xmas holidays though. Doesn't really matter if he was sick the last little while or not as it's not like he was expected to be working over xmas or anything. Especially considering he has a family to take of and such.

As for damaging confidence, I don't know, maybe. But I see too many projects that try to sweep away anything that's not 100% positive and in the long run it shouldn't really matter as the project should speak for itself and stand on its own merits. Melvin is a very valuable member of the project and generally would have never considered working on any sort of alt project that wasn't Bitcoin as he's been involved with Bitcoin for almost 5 years now. He has high expectations for the project because he sees the potential and realizes that we're not the only ones out there moving towards marking-like technology.