Topic: **MANDATORY UPGRADE REQUIRED** [ANN] B&C Exchange - All users must upgrade - page 14. (Read 174455 times)

Nice project. Gonna follow this thread.

BTW Are there any milestones or estimated time of launching some concrete alpha/beta implementation of B&C Exchange?

The whole funding round and the communication has been a pleasure so far - let's hope that this can be prolonged to the operation of the exchange
But looking at the results of creating the Nu network I have some hope that this development team and the share holders will make something ingenious.
Roughly 310 BKS are for sale on ccedk at the moment with a price not far above the latest sell price by Blocks&Chains Exchange.
If you want some BKS, go and get them

The last 39 BKS for sale at ccedk are quite expensive at 8 NBT (= 8 USD) compared to the price before Blocks&Chains Exchange stopped the sale (after the share holders decided to do exactly that).

Because it doesn't yet lay eggs - neither golden nor any other; except the eggs you receive for selling BKS.
People who are over invested might want to get rid of some shares, because it might take some time to make the exchange operational.
So far there's the (justified!) hope that this exchange might be such a goose.

I agree. I only *just* found out about this project (just my luck, just a couple days late...) and am regretting not finding out about it sooner. Very professional handling of announcement, shares and distribution, to say the least. I do not say that often.

Why sell the goose laying the golden eggs?

Looking at the price level at ccedk you seem to be a little bit to low with your offer.

The best NBT sell (= BKS buy) offer is at 4.25 NBT (0.235 BKS per NBT).
If you try to get BKS from the BKS sell side, you have to pay 4.34 NBT (0.23 BKS per NBT).

I expect the price level to rise, because the BKS sale from BCE has been ended - but you are aware of that
...and I hope for the trading pair to get flipped soon - this notation really makes the brain hurt

If anyone is willing to sell Blockshares, I would take them for 4.10 dollars per BKS.

Once B&C Exchange trading is developed and implemented, you can be quite sure that BlockShares will be available there! In the meantime, it is an advantage for BlockShareholders to have several platforms to trade BKS on. It is also beneficial for our project to have exposure on as many exchanges as possible as a form of indirect advertising.

How about the B&C Exchange?  That's the whole point of this, right?

We have submitted a request to Coinmarketcap to add BlockShares to its listing service. We hope to see it added soon.

BKS are currently traded on one exchange (CCEDK) on a NBT/BKS pair and a BTC/BKS pair. We have already requested that CCEDK flip the trading pairs to BKS/NBT and BKS/BTC and they are working on it.

We encourage all BKS holders to write to their favorite exchanges to request BKS trading support. What exchanges would you like to see BlockShares traded on? 

We have updated https://bcexchange.org with links to the design document and block explorer. Thank you for the suggestion.

It seems I messed up some dates - not only the one you mentioned, but all except for 2015-08-21 23:59 UTC


I wouldn't have doubted that with all the experience from Nu motions so far.
Typically motions are accompanied by a discussion - the longer the more controversial the topic is.
It's a pleasure to see important decisions being made then by vote from share holders and the corporation following them.

Tell me where else you find this way to form a reliable consensus that moves important things in a relatively short time?

No, they do not violate the motion. The last requirement is:


We have requested that users make final payment by August 28th to ensure that we are able to comply with the burn on August 30th, as it takes time to verify purchase records and prepare an accurate burn count. Our comment "If this will be a problem for a purchaser due to a lack of access to their funds until August 29 or August 30, please send us an email and BitMessage to work out alternative arrangements" allows users to still pay after Aug 28 but before Aug 31 if they can't access their funds until those days. We just want to minimize the amount of record-keeping we do in the hours prior to the burn.

Requesting an August 28 payment deadline allows us to be certain that we can complete the burn by August 30 23:59 UTC, while still allowing users who may face extenuating circumstances to make payment on August 29 or August 30 if absolutely needed.

We agree that it is important that the terms of motions are upheld, just as we've done with all motions on the Nu network in the past. We have purposely posted the three important dates of the motion multiple times in this thread to ensure there is no ambiguity regarding our commitments.

I disagree with you with regard to the date you mentioned (2015-09-04): 14 days after the motion has passed is what counts.

August 30, 2015 (23:59 UTC) - Any BlockShares remaining that have not been paid for - including those that were requested for purchase but not paid for - will be burned. At this point, all undistributed BlockShares will have been destroyed as per the motion. This date is fourteen days after the motion passed.

The motion has passed on August 16th. Therefore, payments have to be completed until August 30, 2015 (23:59 UTC)! Otherwise, BKS that have not been paid for will be burned.

Anything wrong with those statements? Maybe I missed something.

I made a final request for BKS but forgot that the minimum requirement is 500$ per bid. I made that request for 100 BKS prior to the final deadline and corrected it after the deadline. The request has not been accepted then, which I fully understand and accept as the rules are straight to the point and should not be violated. This should count for every single point mentioned in the motion.

Am I correct?
 

The motion is quite clear and I don't see room for alternative arrangements.

All BKS that have not been purchased before 2015-08-21 23:59 UTC need to be burned at 2015-08-28 23:59 UTC.

Who purchased before 2015-08-21 23:59 UTC needs to have deposited the payment before 2015-09-04 23:59 UTC.

The only alternative arrangement I can think of is a payment very close to 2015-09-04 23:59 UTC where the transaction is on the network, but not being processed fast enough to reach BCE before 2015-09-04 23:59 UTC.
I can imagine to save those BKS from being destroyed and wait until after the funds have reached BCE.

The BKS from people who purchased shares before the blockchain was created need to be excluded from the burned BKS. They will be delivered as soon as they provide BCE with a BKS address to deliver them to.
I assume that payment for those shares has already been received by BCE. If not, the motion applies to them as well.

I would like to know whether those "alternative arrangements" for delayed payments violate the terms of the motion in any way? If so, I am definitely against those alternative arrangements. We should stick to the motion, no matter what.

The new BlockShares fundraising total is $312,860.

Motion f8bcd3d068a6b35c92902a8d57e0e773e4e35352 states that all undistributed BlockShares must be burned by 23:59 UTC August 30, 2015. We would like to request that all payments be made by August 28, 2015 to ensure that records can be reviewed and the burn completed before the 31st. If this will be a problem for a purchaser due to a lack of access to their funds until August 29 or August 30, please send us an email and BitMessage to work out alternative arrangements.

We would also like to remind people who purchased shares before the blockchain was created, but who haven't sent us BKS addresses to send them to, to please do so as soon as possible. There are a number of people in this position. We will hold onto their shares for an extended period in the hopes that we will have an opportunity to send them eventually.

No. Burns immediately lower the quantity of BlockShares on the blockchain. This can be seen by anyone with a B&C client by running the getinfo RPC and looking at the moneysupply value, which is 186,264.1782 right now. The figure on the block explorer website is not updated rapidly. We are working with our block explorer developer to ensure that an accurate total will be displayed once burns are complete.

So is the number of outstanding BKS in the block explorer correct?

The B&C Exchange team has completed the next requirement of motion f8bcd3d068a6b35c92902a8d57e0e773e4e35352, which states


Block explorer confirmation: https://bcblockexplorer.com/transactions/7f0aad5d884918153d2bf2468c11108519d4640e4de95177deb155426108e5b6
Transaction ID: 7f0aad5d884918153d2bf2468c11108519d4640e4de95177deb155426108e5b6
Block: 69368
Amount burned: 22,565.983 BKS

The only undistributed BlockShares remaining in our possession are for the following groups/purposes:

1) People who already paid for their BKS but haven't yet provided us with a BKS address to send them to
2) People who asked to purchase BKS before the August 21 deadline but haven't yet paid
3) 100 BKS held to pay for transaction fees on the final transfers, of which any unused BKS will be burned at the conclusion of BKS distribution

If you find yourself in group 1 and are having difficulty reaching us through email or BitMessage, please send us a PM here to confirm that we have received your message.

As a reminder, motion f8bcd3d068a6b35c92902a8d57e0e773e4e35352 states that all undistributed BlockShares must be burned by 23:59 UTC August 30, 2015. To ensure that our obligations are met all final payments must be made by August 28 to ensure that records can be reviewed and the burn completed before August 31. Whatever isn't paid for by August 28 will be burned before August 31.

Our fundraising total is now $311,161. A final BKS distribution table with exact BKS ownership numbers by group will be provided after the final August 30 burn.

The new BlockShares fundraising total is $309,995. We are no longer accepting requests to purchase BlockShares, but still expect the fundraising total to change as we finalize the remaining purchase requests.

Motion f8bcd3d068a6b35c92902a8d57e0e773e4e35352 states that all undistributed BlockShares must be burned by 23:59 UTC August 30, 2015. We would like to request that all payments be made by August 28, 2015 to ensure that records can be reviewed and the burn completed before the 31st. If this will be a problem for a purchaser due to a lack of access to their funds until August 29 or August 30, please send us an email and BitMessage to work out alternative arrangements.

We would also like to remind people who purchased shares before the blockchain was created, but who haven't sent us BKS addresses to send them to, to please do so as soon as possible. There are a number of people in this position. We will hold onto their shares for an extended period in the hopes that we will have an opportunity to send them eventually. We will be following up with each of these users individually as well.