Topic: Britcoin 2.0 Under New Management: Cryptocurrency For The Masses - page 4. (Read 14742 times)

Therefore, it helps the security of the chain by keeping more people mining or staking in the long term.

Oh right, copied the numbers wrong.  Seems it was GBP 26 then, at today's USD-GBP exchange rate.

The long tail means that some small amount of coins continue to be created for a very long time.  XMR and DOGE are proof-of-work coins of course -- It makes sense because you'd always want someone to mine them.  Of course, miners get transaction fees anyway from existing coins so don't really *need* the subsidy (from new coins), but the tail emission would help the coin if the coin became less popular for a while -- You'd have people mining even if there were very few transactions happening.

Actually that's $37 - not pounds lol

How would a long tail emission work?  I don't keep up to date with XMR or DOGE much

37 quid for 100K BRIT -- Says it all!  Development (not only tech-wise) is the important thing.

By the way, I think a 'long tail' emission like in XMR and Doge would be good -- We want people to keep staking forever.

http://marketcapcoin.com/session.php?symbol=BritCoin

The current price of Brit is $0.000368

Would anyone want to sell me 100k at the last price?

Btw I've reached out to the owner of Britcoin.com and seeing if he wants to get involved or sell the domain.  I've only had brief words so I will update you all on my progress when I have more information.

Having the domain (Britcoin.com) will give our project a lot more legitimacy to new users and investors.

Not really sure why you would associate this with a scam.  Is it a scam when employees at HM Treasury use the money they print at work, to pay for the petrol used to transport the money to banks?


I don't really know what you mean by HM Treasury being the main customer.


I'm all for a foundation!  As for a roadmap though, I really just want to help keep the coin ticking along.  I can't guarantee that I'll develop significant new features on my own.  Mammix2 has his other coins and day job to worry about, plus he may want contributions in BTC to his tip jar!


1 - Well for the moment, they are important.
2 - Isn't liquidity important in a currency?  And what about fixing security holes?  These blockchain security issues we've just fixed have been known about for a while now.  Why weren't they fixed sooner?  Is it acceptable to have a blockchain that any malicious actor can decide to fork or halt at any time?  As a holder of half a million Britcoins, why weren't you taking action to maintain the code?
3 - Those will be pretty slow and cumbersome.  Don't expect shapeshift to integrate one into their service in 2016.
4 - Not really sure what you mean by this.

As for quick money, we don't really make money from selling PiggyCoin merch, not directly anyway.  It helps the value of the coin though.

You do know BRIT is worthless right now?  As in you would have a hard time finding an exchange or person to trade with.

Forking the chain and adding an extra 1m coins (just throwing this figure out there) to put together a team would mean an increase of less than 10% to the coin supply, but enable Britcoin to progress.  No one is going to work on Brit if they don't feel like they have a stake in the development.

We can do this addition coin fork in a open and democratic way, with an application process and clear roles and bounties.  Like I said, Britcoin is pretty much worth $0.0000001 per coin, so I don't think the coin supply is the biggest problem right now.

As for Ken, I assure you he was real lol  Sadly no one has heard anything from him for awhile, which is a shame.



1. - Yes in the future, but I can't see HSBC working with Britcoin any time soon.  Until then getting on Bittrex, Polo and Shapeshift is important.
2. - Bittrex won't have a problem with us adding more coins, that's ridiculous.
3. - Getting on openledger.info would be great, I know some people from BTS and could have a word.  As for other decentralized exchanges, they don't exist yet afaik.


The main customer for Brit are the British public, I'd rather stay away from HM Treasury tbh  

Increase the stake = increase the interest rate?  Well that's an idea, but 5% is already pretty high.  I understand that Blackcoin's PoS v3 somehow makes up for people not staking by rewarding active stakers with extra to keep the total coin inflation at 1%, which presently works out at around 5% for people who are staking.  Blackcoin's code has diverged significantly from Britcoin's though; it would not be a copy-and-paste job to implement PoS v3 in Britcoin.

Anyway, even if you're willing to contribute 10% of your holdings as someone who owns a significant portion of the coin, that only works out to 50,000 BRIT.  What can you get for 50,000 BRIT nowadays?  A few years ago you couldn't even buy a pizza for 50,000 Bitcoins.

The premine was 210,000 BRIT I think, and that's all been used.


Well, I'm talking about adding something to the existing blockchain.  I don't know if we're just talking semantics or not.


Have PM'd him.  I think Britcoin has lain fallow too long; there were critical security issues that needed resolving.

Im smelling a bit of a scam. No additional premine.

The main "customer" for Britcoin is HM Treasury, they are after all the largest investment vehicle and success would be dictated by their level of interest or support. There are issues of course, technically you cannot use "the crown" on anything that has not been approved or endorsed by The Crown. So Britcoin already sits on problematic ground.

It is critical that we form a foundation to represent the Britcoin brand, and any current investment, draw up an agreed roadmap and treat the blockchain with respect.

As far as "getting on Bittrex" being necessary;

1 - in the future banks and regulated exchanges will be important, not existing exchanges
2 - coins can be added anytime, the important thing is a consistent blockchain from day zero
3 - some people are developing decentralised exchanges for buy and sell orders
4 - you can now create currencies and assets across existing platforms - bitshares, nxt, horizon so britcoin is not currently exclusive

I think someone has seen an opportunity to make some quick money from this...

What is going on? Another premine? Erm, no!? Disagree.

By all means increase the stake so initial and current investors retain the same proportion of investment in the coin/brand and let stakeholders distribute and contribute to a foundation. I wouldnt be happy for my investment to be reduced from 5% to 1% because of an additional premine.

The existing blockchain must be continued and respected!

If I were you I would communicate with this "Ken" chap to see what he is doing, although I suspect Ken doesnt even exist, why would you buy something to take it offline? Bit weird.

A foundation and roadmap should be made, and largely decided, by its richlist and main investors (an additional premine is unacceptable as this would devalue any initial investment by current stakeholders.)

I hope that is acceptable.

Good country coins can still be successful.  Look at GuldenCoin: https://bitcointalksearch.org/topic/gulden-closed-1343317

Tons of merchant adoption.  10% premine.

I wonder if they have some kind of consultancy that sets merchants up to accept Bitcoin on condition that they also accept Gulden.

That's great!  I'd like to see something like a second premine though as keeping a coin going can cost money these days.  (Don't expect Bittrex to relist BRIT for free!  But Bittrex is where we want to be if we want to work with services like ShapeShift, payment processors, or fiat->crypto exchanges.)

That's great.  I like the header image there on the Twitter page.  I also have https://twitter.com/britcoin3uk

By the way, in your Britcoin article, you have the link to the code wrong.  It's the britcoin-tor from the Brit-coin user that's the 2.0 and 2.1 code.


I'm just some guy!  I haven't communicated with Ken (who apparently 'bought' Britcoin stuff from will7am) in any way.

Great to see that the community is still around.  I just want to be 'a' dev for the coin, not *the* dev.  I think that the Britcoin brand is great, and the TOR functionality is still ahead of its time.  I'm mainly devoted to PiggyCoin but I want to help with this coin and show a new team/community how to do things like the ANN posts and sell merchandise.

cool to see more interest coming back to BRIT

Hi All

I have 500,000 Britcoin from the original coin.

Happy to support and contribute, also happy to give away proportion of staked coins.

I have set up a Britcoin Revival on twitter - www.twitter.com/britcoinbitcoin and happy to run a dedicated column over at www.digital-currency-world.com

Is the 3.0 genuine? What's the latest news?

Thanks

This is great news guys.  Sorry I've only just seen the new posts, I don't have any notifications setup so I just check back once in awhile.  Will put on email notification now before I forget. 


Yea finding a decent team is difficult, especially since working on a coin doesn't pay anything.. In fact you have to spend money to own a stake then work on it for nothing   How about we reach out to people who want to get involved with the project through coinality.com (or even here on BCT) and offer BRIT as the bounty for working the project.  So we look for 5 or 6 people and give them a nice chunk of newly minted Brits each, in return they work together via slack/irc to further this coin.

Glad to see there's some interest in Britcoin, turns out Ken just vanished and I was worried that was it.  Thanks to everyone who's helping

I would also be happy to replace NXT with Britcoin on Cryptomate.co.uk if we can get back on Bittrex as well, so we have a GBP/Brit exchange.

Hi All

As greenmo has said we've been working through the existing wallet and implemented some important security fixes in v3.0.0.0. As some of you know im very busy in Crypto land so wouldn't be able to commit to being the lead dev, but i'm happy to help out where i can.

Thanks
M

Going forwards, my opinion is that we need

1) a dev who knows about TOR
2) a dev who has a Mac
3) another premine for bounties and such

Regarding #1 and #2, code needs maintenance.  Britcoin's missed two important security fixes in the past year.  (The OpenSSL thing counts, because you might have compiled it yourself using a wrong version of OpenSSL.).  I don't know anything about the TOR code in the wallet and don't really want to learn about it.

I'd suggest to the community doing whatever it takes to get mammix2 or another dev with understanding of the TOR system these wallets use, on board.  mammix2 has other coins where he gets a regular payment forwarded to him from blocks mined.

When I made this kind of suggestion to mammix2 though, he held off on committing.  Said that he wanted to see if there was still intereest in Britcoin.

As for #3, that'd be a hard fork to add extra coins.  We'll need to pay for a block explorer, and to get back on Bittrex.

_____
I've got to get ready to move house so may be available only intermittently for a while, but I'll arrange it so that Leigh has access to the website.

OK, it's ready.  Get your Britcoin 3.0 wallets at http://britcoin.xyz !

Use this kind of britcoin.conf file in your %appdata%\roaming\BritCoin directory if you have trouble getting a connection.

...or turn on UPNP in the wallet's Settings->Options until you have a connection, but I think that's considered a minor security risk nowadays.

I suggest holding off on making a new ANN post until there's a Mac wallet available.  I recommend someone pay mammix2 to do it.  (I already paid him to help me make the Windows wallet.)

It turns out that the OpenSSL vulnerability wasn't an issue with the versions that mammix2 compiled the Britcoin 2.0 and 2.1 wallets with.  (He was just a paid-for-hire dev for those.)

However, there is another, very important fix for a staking exploit.  I've timed that to kick in on March 5th.  It may enable a hard fork, so v2.0 or 2.1 wallets should not be run from March 5th onwards.

We are testing the new '3.0' wallets, but having trouble getting connections.  Please keep your Britcoin wallets running as much as you can!