Topic: BTCD is no more - page 362. (Read 1328490 times)

due to misunderstandings, should we reset the poll

Yes, just another incentive to HODL
I tend to keep coming up with such ideas.
I am just worried that if BTCD gets to three digits (fiat) it might be too expensive of a requirement. I guess we can always reduce the minimum deposit factor and this will do quite nicely to limit the M of 254 multisends. The wealthy can easily afford to keep a few hundred BTCD staking forever and most people wont need the M of 254 level privacy.

I estimate this would reduce the available trading supply of BTCD quite significantly, maybe too much. That is my concern, it might work too well and create artificial scarcity and that is not good.

James

I also voted no. However, I took it as being a fee too. I would change that to a yes now that i know its a minimum balance and not a fee.

Difficult to say the least.  There was a full on FUD attack (nasty one) which im sure helped drive it down to its current state.

Ok, in that case it makes much more sense.  So essentially it gives more incentive for people to buy and hold btcd as it allows them teleport options.  I voted no, now that I understand it more clearly I vote yes.

1 BTCD is really awesome compared to the requirements of other coins for their anon solutions. BTCD truly is for the people.

Oh well in that case I don't see a problem with that. It will make Teleport the high class way to send coins. Only for the people that want to transfer large amounts of money with the best security around.

I was contacted by someone from key coin back when the marketcaps were close to each other. I was quite surprised to see it fall so far so fast, just not sure why it happened. like with cloak. one day $5 mil+, now 90%+ loss
I dont have time to deeply research coins like I used to, so I was just wanting to understand

James

plz make it clear it is not a fee, but just a deposit required
1 BTCD required to use teleport

anything is possible, but querying orderbooks is not good design for this
also, it is not a fee, just a requirement to have some BTCD to be able to use teleport facilities
sort of like being part of the club.

James

it wont be a fee, just a requirement to have it, you can and should be staking with it
the fee will be something small like 0.1%

Would it be possible to charge a percent of the market cap rather than a coin amount?

As you know I am working with math professor (from ivy league univ), he wrote the Math behind NXT paper http://www.docdroid.net/ecmz/forging0-5-2.pdf.html

Teleport is at first a bit puzzling in its apparent simplicity, but once you realize the potential for trusted teleports, M of N multisend, the difficulty of any attacker breaking the encrypted packets, lack of permanent blockchain record, etc. It becomes a challenge to simplify things to a "simple" math equation. Since Teleport is actually a system and not just an algorithm, it will not be so easy to create a precise mathematical model. I am glad this is not a task for me!

Anyway, this means the type of analysis seen in the paper above will probably not be available for a while. But in the meantime, I do have a highly relevant quote:


Considering the stature of mthcl, I think this quote belongs in the OP along with link to his NXT paper so people will know he is one of the guys smarter than me

James

P.S. The fact that privacy level increases with overall activity is unique among anon solutions, all others have a fixed (and relatively small) anon set. It is fair to say that our anon set is bigger than their anon set

I wouldn't charge too much for teleport. If the fee is high then so few people will use it that it might as well not exist. I can go for charging 1 btcd for max security setting but if the coin reaches 10 dollars or more then sending just a simple transfer would be pricey at 1 btcd per low setting teleport.

New Poll up!

Thanks for the quick response.  I'm very new to this thread and do not know a whole lot of what has been going on, but I must admit, I'm impressed with the supporters and investors of this coin.  They seem to put a lot of trust in you, and I can only assume you must have done something right to earn that.  I will continue to follow for now and see where it all goes

Sorry, it's hard to gauge the tone of your voice through the internet, but is this a sincere question?

Do you know what happened to keycoin?

Test releases with source code available. Maybe smart peoples are understanding Teleport tech, verifying the source code is very close to complete, even running some test nodes. Or maybe they trust the dev that created multigateway?

If all these maybes were completed, do you really think the price would be where it is now? The market is discounting the future potential with the probability of completion, toss in skepticism due to many other devs that dont deliver, etc. and you have the current price. Also, we are not having much fancy websites or big marketing budgets. We just make hard work to develop the tech and the websites, etc. are all volunteer created.

BTCD is a work in progress, but you get to see the work progress on a regular basis. If having a chance that BTCD wont complete its tech is too big of a risk for you, then I suggest you wait. Even after BTCD is more fully valued, it will still pay the 5% per year interest, revenue sharing from InstantDEX and teleport fees.

James

Last night I came up with a way for increasing demand for BTCD, possibly by a lot, but it is a bit controversial. At least I think it is. With the current poll kind of tied and no clear mandate, I think it is time for a new poll.

As you know there will be ability to fragment each telepod into M of N pieces, with M needed to reconstruct on the receiving end. The higher the value of N, the better privacy and N can go to a crazy high number of 254. However such a number would create some load on the network, just bandwidth and not permanent, but still it is an issue.

So, I was thinking of requiring 1 BTCD per N, meaning if you need 1 BTCD to do 1 of 1 multisig, basically no multisig. if you have 10 BTCD, then you can use N of up to 10, etc. So to be able to fully utilize multisend (? not sure of name) you would need to have 254 BTCD. Doesnt sound like much, but with only 1.2 million BTCD this will create at most 4700 people that can do M of 254 multisend and realistically much less.

On the other hand, if even 100,000 people want to start teleporting (any currency not just BTCD) they would need at least 1 BTCD to do any teleporting of anything. This would create a hardcap of 1.2 million teleporters and realistically more like 100,000 as it is safe to say there are a lot of people with more than 1 BTCD, thus lowering the available BTCD. this is why it is controversial. I dont want to artificially limit teleporting and I think 1 BTCD requirement to enable teleport is not unreasonable.

This min 1 BTCD requirement would permanently take X BTCD off market where X is the number of people who are teleporting and actually X * Y, where Y is the average M of N level that people fund. If X is 10,000 and Y is 5, that just took 50,000 BTCD permanently off the market. Is this too drastic?

I just want to be sure. Can we have a poll?

James

That's a lot of maybe's.  I have been following BTCD recently due to the fact it had a huge rise in price and is still holding around there despite all these dumps going on.  It's definitely peaked my interest, but from what I can tell, BTCD's value has really only been dependent on promises made by the dev(s) so far.  I don't see any major feature releases yet.  Am I missing something?