Topic: [BITZ] The Only 10% PoS Crypto to have - page 11. (Read 81866 times)

Great work and news dev we could call you magician, just keep up the good work.

Bitz now on Bittrex:

https://bittrex.com/Market/Index?MarketName=BTC-BITZ

OP update to follow....

Launch in trex

That you change totally the game and new member will have more avantage than older who stacking since 6months .

I like the idea. Maybe do a reward with the calculation of a node online by day/hour like dat it will be more fair.

Ok. A fairer reward scheme to entice more staking.

What is happening now is that only about 50% of all Bitz are staking. The idea behind the staking is that it provides an incentive to run a node to support the network. The way the 10% of staking amount works may not be fair. The way it is now means that large Bitz holders get a bigger reward. Someone holding 50,000 Bitz get a much larger reward than someone holding 1000 Bitz but they both support the network in exactly the same way by running a single node. So, what if we take the amount of Bitz out of the equation and reward people for running a node and not by the amount of Bitz held. That would be fairer.

This would provide less of an incentive to hold a large balance of Bitz for the accumulative stake reward and rather encourage people to spend Bitz.

Keep buy this so cheap...
I keep hold all my BITZ, don't sell under 10k

Why sell it so cheap? 1.9 million coin and just 600 satoshi each ?

Good work dev. Nice to see Bitz on another exchange.

When you say change staking, do you mean the percentage?

If yes,  what's the problem with the present amount?

Does the percentage somehow devalue Bitz?

How can it be fairer?

If the percentage is not high enough, would there be less open wallets?

Why not leave it as it is for now unit and if Bitz becomes more established.

So, I stopped the voting for the preferred exchange:



It is clear that out of the people that voted Bittrex is the preferred exchange. I will keep working to get Bitz on Bittrex...

A quick Sunday update (although posted Monday morning London time). Firstly the Gleam / Bitz Twitter giveaway competition ended on Saturday and was a modest sucess. A few fraudsters entered but also a few people new to Bitz and I have sent out some of the winnings.

I also launched a further ReTweet competition but nobody is interested so far. We'll see what happens.

Bitz has been listed at Bleutrade: https://bleutrade.com/exchange/BITZ/BTC so that makes 5 active exchanges.

I have been trying to negotiate with Bittrex but they always say the same, "we don't comment on adding new coins" so I guess they will not settle for anything less than 3 BTC. So, we have 3 pledges so far totalling 0.9 BTC so we will see for another week how it progresses.

On the development side; we are working to review the staking mechanism to explorer the possibility of making it fairer. We'll get back to that.

Wait and see ...

** BITTREX LISTING UPDATE**

Pledges: me + 2 = 0.9 BTC

ok has there been any responses?

I am NOT asking anyone to donate right now. I want to know how many would donate and if there are enough then we go ahead with it.

will anyone else be donating? I probably would but I'm thinking whats  the point if no one else  will.

As you know, I am trying to find an entry into the merchant / payment processing world so that Bitz can be used to pay for goods / services. I have previously spoken to Litebit (https://www.litebit.eu/en/) and now recently I have spoken to Cointopay (http://cointopay.com/) about integrating Bitz into their systems. They are both willing to integrate Bitz if:

(i) Litebit - Bitz listed at either Bittrex or Cryptsy
(ii) Cointopay - Bitz listed at either Bittrex, Cryptsy or Bleutrade

It seems to me that a listing on Bittrex will move the whole thing forward. If you follow Bitz you will know that I have been trying to lobby Bittrex and also have been running a Twitter campaign lately. This doesn't seem to work. Bittrex is offering to 'highlight' a coin and list it for 3 BTC. That means getting a large 'ad' on the front page of Bittrex. This will promote Bitz and it also means that two payment processing companies have agreed to integrate Bitz after a Bittrex listing.

I was approached by someone (via PM) offering to chip in 0.2 - 0.4 BTC to get Bitz listed at Bittrex. So, I propose that we try to raise 3 BTC and get Bitz listed. This will also attract the people just hoarding Bitz and there will be more trade = more liquidity = greater adoption = Bitz value / demand increase = further development etc.

So, this will only work if we get 10 people contributing with 0.3 BTC each (or more or less). I have been given a pledge by one user (as above) and I will chip in 0.3 BTC so that gives it a 0.6 BTC start. We have set aside 100,000 Bitz for development but so far nobody has contacted us to help out or claimed any of the 100,000 Bitz for promoting Bitz.

So, we can offer 100,000 Bitz split between investors to raise the 3 BTC (except me) divided according to BTC pledge. I am not asking anyone for any BTC now, I want to know if there is enough interest.

If you want to help Bitz get listed on Bittrex then PM or post and tell me how much you would invest and if we reach 3 BTC I will arrange an escrow to get the Bittrex listing.

Currently: 0.6 BTC

No, only the Bitz that are staking will get interest. A lot of people just sit on coins waiting for the right time to sell I guess.

A lot of the larger wallets are not active on the network. Is their share of POS being had by those that stake?

The 10% stake is not for bagholding, it's to help run the network. It's exactly the same as with a PoW coin really, like Bitcoin. If you run a full Bitz node 24/7 and help to verify transactions on the network you get a reward or if you run a miner and help to verify transactions and you get a reward (as in PoW). If you just store the Bitz you get nothing. You need to run a full node 24/7. There is a balance to be found somewhere. If the reward is too small nobody will run a full node and if it's too high nobody will want to spend (soon).

Only about 50% of the Bitz are staking at any given time.

We don't know what the real economy will be in a few years, but digital currency is certain to feature in the real economy of the future.