Topic: [FIBRE] | 625k | [SuperNET] | FibreDark | FibreLock | FibreGateway | ZeroTrust | - page 125. (Read 514922 times)

Another good question!! Keep it up, between us we are going to hash out all possible avenues of concern.

As i mentioned earlier the Fibre team is going to be expanded to handle the increased workload. We already have another well known developer that will be coming on board.

If you know another way to raise a couple hundred BTC please share!! We started the funding for Block Cypher 3 weeks ago and have received 1btc and that was from one person.

I don't see how launching a new coin via an ICO is going to
be the best route to funding FIBRE development going forward ..
 
My concern is that by taking on two projects that FIBRE gets
lost in the shuffle as a consequence ..

Your work to date on FIBRE has built a following, attracted an investor base and
most importantly resulted in a significant appreciation in the value of FIBRE ..

I should think that there must be an easier way for you to monetize a portion
of that appreciation to finance the ongoing FIBRE development costs than to
ICO a new coin ..


Triff ..

 

We have to be careful how this is worded.

None of the BTC raised during the ICO will be used to directly develop Fibre!! However, the two will share source codes and any other technical features.

The two development teams will share there work so both coins will benefit.

We want to bring in the most talented developers, outside of crypto. This requires capital.

So, If I understand what you're proposing here ..

It's easier to have an ICO for an entirely "new" coin where a certain percentage ( all ?? )
of the BTC raised in the ICO will be allocated to the costs of future FIBRE development
vs hard forking FIBRE directly to facilitate/effect a secondary offering as a
means of funding future FIBRE development ( as i proposed upthread ) ..

Will it be clearly stated in the FibreLite OP that the purpose of the ICO
is to further fund FIBRE development ??

Triff ..

Existing Fibre holders will benefit from the further development of Fibre due to hundreds of btc that will be invested during the ICO. Right now we cant even afford Block Cypher as no one wants to donate. Hence the need for FibreLite.

I don't see how the Fibre marketcap could be affected by FibreLite.

Fibre and FibreLite will be evolving at the same time

FibreLite will benefit from our mature source code with all the features ready at launch

Fibre will benefit from the development of FibreLite as the Source Codes will be shared

The only thing that will not be shared is the marketing and promotion budgets

FibreLite will brings also more exposure for Fibre

Thank You for Your input , FibreLite ico will bring a lot benefits to investors as the price for each coin will be low

We will consider another benefits options like the one You mentioned for sure too

More news to come

We will be able to mine with x11 , scrypt and sha256 from the start

Thats great!! 

Great news !

Fibre Multipool hosted by xpool.ca should be up in about 24 hours

Because fibrelight will have a 90m coin supply obviously the price per coin will be much lower. The question is will a separate fibrelight marketcap canabalize part of the fibre cap? It could be very interesting to have a bittrex fibrelight ipo that only trades fibrelight/fibre at least initially. If not that, some other way to make sure current fibre holders stand to benefit from the release fibrelight.

Well spotted !

With Fibre total coins releasing FibreLite is the best solution here and new great investment opportunity !

We don`t want definitely to mess with Fibre code creating hardforks etc

And FibreLite will be based on one of the best source codes

FibreLite coin supply will help too with mass adoption , it will be used well with Facebook games

It will bring more exposure too for Fibre so it is win-win situation especially with Fibre Team

Another thing is people want to get something at once after they are putting money in it that`s why it is so hard to get donations

Great Question Chartype,

FibreLite would be a completely separate coin and will only share technical features with Fibre. The coin supply (90m) will mean they do not compete. We could possibly have an option to purchase FibreLite with Fibre.

FibreLite will be Fibre's silver and the price will reflect this! A coin supply of 90M would mean that the price of FibreLite will be much lower than Fibre with 650k coins, for this exact reason.

A coin supply of 90M will help with mass adoption. We are also considering having a Facebook Wallet/Game that uses FibreLite as an inventive. Just imagen all of those people that sit on Facebook playing games all day!!

Fibrelite is interesting -- and I can see the reason for it with such a low coin cap on fibre. Here's my question. I assume fibrelight will trade separately, which creates the risk of diluting fibre. Will fibrelight in some way be pegged to fibre so they will be synergistic and not competing? Will users be able to purchase fibrelight with btc or will it only trade with fibre?

Thanks Killa for mentioning it! Indeed i have donated 1 BTC to the find today as i believe in this project, and just think of the possibilities of Block Cypher!
https://blockchain.info/tx/f0728fe6f7e58db28d7c93ffa1b1fa84c4c0e7c0a6008684fa5b379ec793183a


Also as a technical follow up to this. At the start we premined 2% for the development and giveaways which were very well received by the community. This can be verified in the source code. As things stand right now, we nor anyone else has 10% that could be put up for an SCO. For this to be achieved as killa says would require a hard fork, so that the 10% of coins could be programmed into the code for a future block. Even then we would need to control that blockchain until just after that 10% block has passed, to ensure that we received those coins to be put into the SCO. not only would it require a hard for, it would also require absolutely everyone to resync against the new block chain that we would then be in control off.

 FibreLite   is  not   a   good   idea

One last thing! We will need our communities approval for this. We will not proceed without it.

Also................

We have a well known Developer that wants to join the team. We will be bringing him in for FibreLite.

More details to follow.

Hi Triff,

Thank you for you well thought out post. Unfortunately this would require a hardfork.

As you say this is an issue faced by many legitimate Crypto currency's. This plays a part in all of the ICO scams taking place.

Our original road map that we delivered in 7 weeks was a trust building exercise for our next move.

As you mentioned Fibre has a very small coin supply (650k),

So we will be launching Fibre's sister currency FibreLite that will have a much higher coin supply, around 90million. FibreLite will have an ICO hosted by Bittrex.

The Source Code and features of both coins will be shared.

FibreLite will benefit from our mature source code with all the features ready at launch, Fibre will benefit from the development of FibreLite as the Source Codes will be shared. We are bringing in additional developers and team members to spread the load. Eventually we will have 2 separate development teams for each. BUT all features will be shared.

The only thing that will not be shared is the marketing and promotion budgets. However, FibreLite will bring lots of exposure to Fibre.

I have struck a deal with Block Cypher than will reduce the fee of 10,000USD per coin to 13,000USD for both. So Block Cypher will be much easier to fund for Fibre, Bobby6killers has just donated 1btc to the Fibre Block Cypher fund.

Nothing is set in stone and we are still working out the details. But I can tell you that FibreLite will change the game for the Fibre Group and will give everyone a second chance to join the Fibre movement.

Regards
Killa

It sounds good, but this is not wall street. You know 10% would be enough dilution in these small markets to cause an uproar. Donations will come or they wont. The Fibre team has been moving full throttle since day one and I see no chance of them slowing down. With a market cap fitting of this coin there will be no problem gaining the funds for further development.  A little patience is key now.

Ahh ..The ongoing funding requirements conundrum  ..
Every successful coin eventually runs into this issue ..
From my experience the 'donation/begging'  route is NOT the way to do this ..

This coin has a tiny issuance and the devs have more than proven themselves
with the incredible amount of work done to date ..

Why not have a small ( say 10% or 65000 coins ) secondary offering to fund development  ??
The easiest and fairest way to do this would be thru an exchange run offering ( SCO ) ..
Use Bittrex for the SCO ( secondary coin offering ) offering the coins at a 5-10% discount to
the price just prior to making the offering ..

This would allow current FIBRE holders ( presumable those interested in the long term
viability of the project ) to maintain their ownership position in the coin and also allow new
investors a chance to buy in at a small discount to market price ..

Wall St does this all the time ..
Clearly it takes people, time, and money to accomplish the stated goals of this project ..
I'm sure the community would support this fund raiser approach ..

Triff ..