Topic: **MANDATORY UPGRADE REQUIRED** [ANN] B&C Exchange - All users must upgrade - page 18. (Read 174430 times)

Today when I opened the Bitmessage client, I received two new messages.  One had been sent about a month ago and the second was almost 6 months old!  This clearly demonstrates that this method of communication is still not reliable.  The B&C development team can't be faulted if share distribution did not go smoothly when Bitmessage is involved.

Oh yes, it is

Sure.
The classic question: more risk for more gain or less risk for less gain?
Buying BKS at the moment is for sure investing money in a startup.
It might fail (and there are many ways in which it could fail...) and a total loss would be a likely consequence.
But if it succeeds, the results could be overwhelming.

What should always be regarded when investing money (in whatever): don't invest more than you can afford to lose!

I've learned some lessons and regard the statement above as well as this one: don't invest less than you can afford not to gain

Finding the balance between two extremes (invest all / invest nothing) could be a viable way.

I'm not aware of the development roadmap, but I can imagine that "motion votes" will be introduced quite early. This is a field-tested¹ way to form consensus on decisions that need to be made.
Motion votes are a continuous process. Whenever a block gets minted, a vote is cast².
Once a majority of shareholders (=minted blocks in a rolling window of blocks) is in favour of the motion, it is considered passed and the decision or action that was content of the motion is made or started, respectively.
It might remind you of stockholders' meetings in the real world. But while they normally elect delegates and can only do that once in a while, the "stockholders' meeting" at B&C Exchange will be ongoing and without the need for delegates.

Now comes the thing: obviously you need BKS to be able to mint blocks and to be able to vote; you need a financial stake in the system to be allowed for determining its way.

Why am I writing all this?
I want to help you finding milestones after which investing money (only as much as you can afford to lose!) in B&C Exchange might be far more convenient than it is now.
Once the blockchain is promoted from release candidate to production and is able to handle motion votes, it already will be in a good shape. Tiny little add-ons like all that exchange related stuff will follow
...but most importantly: once its in production state and handles motions, you are in full financial control: you can sell the BKS or you can take a part in shaping the business³.

If you doubt the power of motions, visit https://docs.nubits.com/history/ and have a look at how drastically Nu was (re)formed by the will of the shareholders!
The shareholders are in full control to the extend that they can vote on stopping the distribution of BKS at a certain point or adjust the price or whatever seems appropriate.

__________________
¹ Nu uses that since its start very successfully and as you should be aware, B&C Exchange is a fork of Nu, being thought of by the same lead developer and being created by the same team that created Nu - which is still (after close to one year on the market) offering a stable pegged crypto currency.

² Votes are only cast if configured; there are times without motions, so there's not always need to have a vote configured. If you don't want to follow the development closely at some point of time, you can register a feed of somebody who - by the track record - tends to vote in your favour. Registering a feed makes the minting client inherit the settings from the feed provider. De-registering the feed gives instantly the control back to you. This is close to electing delegates in a "traditional" stockholders' meeting. The difference is: there's no election period by registering a feed. It is effective only as long as it's registered.

³ I was wondering whether that Nu thing with the peg could work. It did so far. It did so very successfully. Do I know whether B&C Exchange will work? Hell, no! But it's not like this team has not made impressive stuff!

Decentralization is the way!
Interesting Business model and great news for people wanting to leverage their Bitcoins!
However, I'd rather see it working 100% before going in with it!

We need Peermessage to be finished. You can help Emeth by posting a message for him on Github. Check here...

https://www.peercointalk.org/index.php?topic=4203.0

Even though bitmessage initially seemed like a really nice technology and suitable for such use cases, for some reason it just fails to provide reliable service at critical times. I wonder if the Tor or I2P network could be used for communication instead?

I guess I was one of the ones that didn't get a Bitmessage. I just wanted to let BCexchange know that I probably won't be able to get to creating addresses until the weekend, but I will get to it. Sorry for the delay.

you got them? i 've already got mine  

Would you please send me BKS today? I've sent the BKS address by email and BM since yesterday.

BKC (BlockCredits) are not yet available, because the trading functionality of B&C Exchange has not yet been developed.

BKS (BlockShares) are available at the current price of $4.08 per BKS. You can make a purchase by emailing [email protected] or sending a BitMessage to BM-2cTihATJ5FwJ7vWBwZmJjr55eFPFWBCmCQ. Please ensure you provide us with the information requested in the original announcement, including your requested quantity of BlockShares, the asset type you will pay with (BTC, LTC, PPC or NBT), and finally a cryptocurrency forum username (bitcointalk, discuss.nubits.com, or others) that is a minimum of one week old as of the date of the main announcement.  These are the only two channels we will sell BlockShares through.

I have some errors on W8.
Same as here: https://discuss.nubits.com/t/passed-motion-to-provide-seed-funding-for-b-c-exchange-a-decentralized-exchange-built-on-the-peershares-platform/2001/496

I  purchased from B&C Exchange by email at [email protected],and I  send 1587 NBT to this addr BB94nQZcLxmxd642pV8vXADNBmGnfS27Cd
I just send my BKS addresses to  [email protected] reply me.

how can I buy some BKC?

Everyone who has both paid for BlockShares and sent us one or more BKS receiving addresses via email or Bitmessage has received the BlockShares they were promised. We will reach out to those that have paid but have not sent us a BlockShare address to make sure they get the shares they deserve. If you are one of these people, there is no need to wait for us to contact you. Just go ahead and send us a BKS address using the same email or Bitmessage address you used to arrange payment and we will send your BlockShares promptly.

Please remember that the B&C Exchange blockchain is currently a release candidate. This means there is still a chance the blockchain will be discarded if a problem with the distribution emerges. It is our hope we can promote it to the status of final production blockchain in a week or two. Until then, no one should purchase BlockShares from individual shareholders because you will lose your investment if it becomes necessary to start a new blockchain. BlockShares should be purchased from B&C Exchange by email at [email protected] or by Bitmessage at BM-2cTihATJ5FwJ7vWBwZmJjr55eFPFWBCmCQ

I was expecting somewhat an email requesting the addresses exclusively just before the distribution day (one of the emails handling payment did mention that I would need to indicate a few addresses though once i would have downloaded the wallet) but this is now clarified.

Unfortunately, there are widespread reports of shareholders not receiving the email from us requesting receiving BlockShare addresses to send BKS to. The Bitmessages appear to have been consistently received. We will follow up individually with shareholders who have used email to correspond with us and have not sent us their receiving BKS address(es) to ensure all shareholders receive their BlockShares. Everyone who has sent us their receiving BKS address(es) will receive their shares by the end of today (the 19th) UTC. If you requested and paid for BKS via email and did not receive our bulk email requesting BKS addresses, there is no need to wait for us to contact you individually. You can just take the initiative to send us your BKS address(es) by email at [email protected], using the same email address you used to pay for your BKS. Here are the complete instructions for those that did not receive the email requesting receiving BKS address(es):

Hi Johny5. Yes, if you have replied to the confirmation email that will do perfectly. We only handle discussions about BKS through the email and BitMessage address provided.

Hi - i never received any message to ask where my paid for (and confirmed) BKS should be deposited to, i just replied to my confirmation email with the address, will that suffice?  I also PM'd you the details - thanks for your help & attention!

Our records show that your message was received on June 29, and then replied to on July 1. That is about 2 days. We do our best to respond promptly given the limitations on our time.


After checking with our team, it appears that all prior correspondence with you prior to July 16 was prompt. You seem to be angry that your BTC went down in value between the time you purchased them and the time you requested to purchase BKS, which is unfortunately outside of our control.

For all prospective BKS purchasers: there will be periods of time when we are unresponsive due to development commitments, family commitments, or life commitments. We make no promises about 24 hour availability, 365 days a year. We are proud of the work we have accomplished so far with Nu and Peershares and hope that our reputations will give reassurance to prospective purchasers that we are not purposely ignoring correspondence.

Everyone who has paid for BlockShares has been sent a message requesting BlockShare addresses to send their BKS to. So, if anyone has purchased BKS and has not received a message they should contact us and provide BKS addresses.

As long as you send BKS addresses by July 19, you will receive your BKS on July 19.

I am sorry that you have to wait but please be patient and understand that the team is getting busier and busier as we get close to the release of the stable blokchain. (at least this is my understanding)
I made a purchase at the end of june and i waited 4 days, fyi.
So it is not surprising that you need to wait more as of today, I feel.

EDIT: corrected typo(s), added info.