Topic: [FIBRE] | 625k | [SuperNET] | FibreDark | FibreLock | FibreGateway | ZeroTrust | - page 124. (Read 514922 times)

It's never been tried. I think it's worth the risk. You have a dev team that wants to raise revenue for improving their product and instead of trashing it and starting over on a new coin like most would do they want to try something never been done before. It will be a different coin with the same managers. The funding from the new coin will help fund Fibre to take it further. They can coexist.  There are many shitcoins. This team can create 2 great ones. I'm sure there are many great ideas that can come of having 2 coins working together run by the same dev team. Look at what sync was doing.

Correct!! We are talking about a separate coin!! The coins will not be merged for this exact reason.

Wouldn't that destroy the price of fibre being it has a smaller coin cap thus higher exchange rate and fibrelite is meant to be a high coin cap with lower value? Am I correct on this. Wouldn't merging the two defeat the purpose of each other and would be no need for either to then exist?

The premise is correct but FibreLite would coexist with Fibre!! Think of it as Fibrelite being Fibres silver.

Triff do you own any fibre?

Have I wandered off the 'reservation' or would something along the following be workable ??


Premise ..

FIBRE has gone as far as it can on it's development path with existing devs and funding ..
FIBRE has enjoyed a steady price rise and attracted a growing community as development milestones have been achieved ..
FIBRE requires substantial additional funding for continued development ..
FIBRE whales have been unwilling to 'donate' or otherwise cover the hard dollar cost of additional development ..

How to proceed ??

Solution ..

Merge current FIBRE into a new coin FIBRELITE via exchange run ICO
FIBRELITE starts life with all the current features/attributes of FIBRE ..
FIBRE will cease to exist ..
1 FIBRE gets exchanged/destroyed for X FIBRELITE during ICO ..  
Set the FIBRE/FIBRELITE exchange ratio at a slight premium to FIBRELITE ICO price ..
Offer enough FIBRELITE to accomodate the conversion of FIBRE to FIBRELITE and
to raise sufficient additional fresh capital to fund development roadmap ..

If you make the conversion/merger 'fair' to existing FIBRE holders then it would mean
moving forward with one dev team and one coin ( with adequate funding in place ) ..

Basically, the idea is to fold existing FIBRE value into the "new coin" at launch via ICO ..

Triff ..

I don't know the ends and outs & politics of running a successful coin but this dev team definitely does and if they think the best solution is to launch FibreLite then i say its a great idea. Wont have to worry about a hardfork effecting the value of Fibre either so it seems like a win to me, Give me some FibreLite.

Thanks! I want to turn Fibre into a top 10 Alt Coin maybe higher, but this will require substantial investment. We can do it, if you give us the power.

I think a new coin is a great idea. Investors can buy in to an established dev team so an ico would be less worrisome to them. Fibre investors would know their coin will also be funded further by the gained funds. If anyone is worried about fibre being drowned out by a new project apparently hasn't seen the countless alts created every week. Maybe there could even be a burn process added to the ico that would have a few benefits. It would give other ways to buy in, it would give someone worried about fibre a chance to get in another great projects,  and it would make fans of fibre happy because it would make it even more rare.
 On top of all of this there would be 2 great coins with the added value of Block Cypher. 
 This team is taking their project to the top for sure.

I'm afraid so! This is the problem

That is the best solution, but the required hard fork makes it a no go!!

I was trying to figure out how they could format an option loan of sorts. The rights offering almost works, but wouldn't they still need to do a hardfork to create additional coins to make the warrants whole?

Triffin where did you come from dude!! You are 100% spot on, you have laid out the point I was trying to make better than I did!

I have spoken with our lead developer Bobby6Killers about this at great lengths. To mint more coins would require a hard fork. It was also require everyone to sync to the new blockchain. This would also likely require some manual steps. Scary Stuff! Fibre has never required a hard fork because of our stringent release management procedures, we do not see this as a viable solution.

We have spent at a lot of time trying to find a solution to this problem not just for Fibre but for Crypto moving forward. FibreLite appears to be the best solution.

But like I have said Fibre is all about its community and if they do not want FibreLite  we will have to find an alternate solution.

I am not sure what the expenses are behind the scenes, or if the 10k for block cypher is the main funding hurdle. If the 10k is the largest obstacle I think you should consider issuing tiered loans with larger amounts returning more interest. It's clearly a tricky spot, but I think many of us recognize that fibre is poised to get very big very fast if we can just keep truckin'.

That's the thing with crypto ..

People are ( rightly cautious ) when asked to fund a new project via ICO ..
The developers obviously need funds to pay for development ..
But they can't 'price' the ICO at an adequate level on launch  ..
Investors worry that the devs will run off with the ICO funds etc etc ..  

It's only after the coin has survived the initial trading period and the
devs have delivered some progress on the white/paper roadmap in the OP
that the coin gains traction both by price appreciation and with the crypto community ..

This point of "acceptance" and intial price boost almost always coincides with the need
for additional funding to maintain the development momentum ..
Thus, the coin 'dies' when the funds aren't forthcoming ..
No one 'donates' and the devs can no longer justify the time and financial
commitment to further the development process ..

So, what creative way can we 'incentivize' current FIBRE holders to fund further development ??
Appeals to 'donate' are a waste of time as you've discovered ..

Is there a way to do a secondary offering ( ie  increase the FIBRE coin supply ) without requiring a 'hard fork' ??
Could you/we  do the equivalent of a "rights offering" ie sell a warrant now that would convert into
some number of FIBRE at a future date ??

I think you'll find that people will 'invest' vs 'donate' for the right incentive(s)

To my mind, this is the main development stumbling block for all the alt-coins that
have a shot at challenging BTC and needs to be figured out ..

I'm not a 'coder' so I have no concept of the technical difficulties in 'adjusting' the
float for a crypto currency after launch ..

Triff ..

Amazing news!!

Can't get better then that!!!

My rigs are ready

Krushang

I Completely understand!! Please tell me some of these other avenues, we are open to anything! It would make me more nervous as an investor that the final stage on the roadmap that will bring the best features and innovations will not be funded.

I have sat there watching the donation addresses for weeks and nothing!! This makes me very nervous!! How long do you think Fibre will be current if the aggressive development slows down. I'm trying to make Fibre a top 20 altcoin!! For this we need substantial investment, also I have brought Fibre this far. I would never do anything to jeopardize all of the work I have put into Fibre.

This would also be another first in Crypto from the Fibre Team!! As most Devs get to this point and just create another coin, abandoning there original coin. As you know we are all about the community and will NEVER do his. The best solution was to create a sister coin that would act as Fibre's Silver, bringing with it huge investment, additional exposure, growth and a much larger pool of developers. We are talking about going from 2 developers to 10, we will have some of the best developers working for Fibre. Just having these guys in a room together they will come up with some crazy innovations.

Drop by IRC so we can discuss this in real time

Regards
Killa

MintPal is up...Fibre is a completely clean slate...

https://www.mintpal.com/market/btc/fibre

last day to buy cheap FIBRE . Multipool incoming