Hey guys, here with a quick update on what's been going on in the last day or so.
Trading has opened up on Yobit and we also were added on Nova Exchange.
Yobit:
https://yobit.net/en/trade/GBT/BTC#24HNova Exchange:
https://novaexchange.com/market/BTC_GBT/We're still working on getting added on other exchanges, C-Cex is next on the list. We're currently working on processing all the emails regarding perks and we'll be sending out another email to finalize tier groups as well as rewards in the next 24 hours.
We also need to make a decision and we would like the community's input on it to help decide where we go from here. The issue at hand is when should the first cycle begin (not when the first payout occurs)? If we were to start from now given we're in the 30% bracket, recall that we said after 6 months this would decay down slightly. However, recall we also stated that we do not intend to go all out on marketing until the new UI is fully developed (screenshots coming soon!).
So we bring to you the question: Would you rather the cycle start now, as in today and have the clock start ticking now... or would you prefer to wait until the new UI has been implemented and the marketing starts. If you decide to start the cycle now that won't be a problem but you will be cutting out at least a few weeks of high potential earnings because the betting going on now is not even close to what we expect after the new UI is there and the marketing is underway.
Let us know what you guys think, this is a community driven project and we'd love to have your input.
We'll be reading everyones responses on the forum as well as on Discord:
https://discord.gg/0wRLI5uAyHw1dmI9Daily. When will the next discord session with the devs take place?
The next Discord session will be on Sunday, the 17th. This session will be a little late at 9pm PST. We are currently in the process of working out a rotating schedule for our European/Asian and Western investors. You're more than welcome to visit us on Discord at anytime as I as well as other project admins pop in time to time.
This is related to our private investors from the Bitshares community prior to GBT. It does not affect GBT holders in any way.
Since this is a staking coin, the following is relevant:
Any amount can stake if 2 conditions are met. The only impact is the time it will take to stake and if the reward is percentage based, the size of the rewards. Firstly you need to have the coins in your wallet for the minimum stake age which in this case is 4 hours, after which your coins becomes eligible for staking. Secondly your coins have to reach at least 1 coin age day. If you have a fraction of a coin it will take a couple of days before you will get 1 coin age day and only then your coins will become mature. This is why some people sometimes notice that although their coins have passed the minimum stake age they still do not show as matured. If someone has 100000 coins of a certain coin as an example, he will have 1 coin age day very quickly, but someone with 0.5 coins will take 2 days.
Once your coins are in your wallet (actually once broadcast on the network) they begin to generate network weight at that address which is a combination of the number of coins in your wallet and the time they have been in your wallet (coin age). Once this becomes "heavy" enough your coins will generate a stake. In the case of GameBet the staking coins (input block) will stay in limbo in stake mode for 250 blocks. They do gain weight while maturing. Someone with a larger amount of coins will reach that point quicker than someone with a small number of coins. When you get a stake, the wallet adds the coins that stake and the stake reward and the total is split onto 2 equal input blocks that gains weight again separately.
The coins in your wallet are stored in blocks and each block of coins will stake on its own. If you have 2 blocks of lets say 10 coins each, when the time comes they will stake separately. This is where coin control enters - if you go to options and display, you can select to show coin control. If you then click on "send" you have the option to select inputs which will display the input blocks your wallet balance consist of. Here you can manage your input block sizes for the optimal block size to stake. There are generally 2 methods that stake rewards are generated each with its own subsections like HPOS, DPOS etc. - firstly there is fixed size per stake (like GameBet) and secondly percentage based. If a coin gives fixed size rewards, your input blocks can be more smaller ones because when they stake you get the same rewards in anyways and all blocks will eventually stake. If a coin gives percentage based rewards, then you must have very small number of large block sizes, in fact, one block of all your coins will be ideal. To change your block size, you go into coin control and select all your little blocks and select OK. Then copy the total coin amount less fees and paste into the amount field. Paste your wallet receiving address in the to field and send. This receiving address can be an address in your wallet which then means you are sending them to yourself. You will then have a large input block consisting of all the small blocks you selected.
If you want to apply this to GameBet, then do not combine your input blocks unless they become really small. If you do move your coins after the 250 block maturity, you will lose the coin age gained during the 250 block waiting period.
Lastly, I would recommend that a good strategy for GameBet would be to prepare your input blocks for staking and maintain them for staking and from time to time take only the small staked blocks to an exchange. Moving coins to an exchange destroys the coin age and resets any weight you have gained. It effectively combines them to an exchange controlled address. Since you have to combine the very small 2.8 blocks in anyways at some point to a little bit larger input block, and if you do need money, take those to the exchange if you have to, or combine and re-stake them if you have a longer term objective.
Thanks for this, we really appreciate you taking the time to thoroughly explain staking to the community.
Re the above email (received approx 8 hours ago), is there/will there be more information re the steam gift cards and the alternative(s), so people can make an informed decision what to do?
Thanks
Thanks for your inquiry, we have already sent out an email regarding this recently. Please take the time to read and reply to it if necessary.
any exchange soon!? Like Bittrex or Polo
Not poloniex but maybe bittrex soon. GBt is only still a few days old so im sure we will be trading on the smaller exchanges for a while before one of the big ones add us.
Polo is not impossible. If everyone fills out:
https://poloniex.com/coinRequestand Gamebet admins email them explaining the coin, etc. and offering to provide liquidity I think we can be on Polo pretty soon.
Thanks for this, we expect all of our community to reach out to Poloniex and fill out this form so we can start trading there. I'll be reminding people in Discord on our Sunday get together but would recommend this link continuously being posted in this thread as a reminder to people.
Are we going to see some ui screen shots this week daily?
Hey, thanks for this question and I'm sure many others are wondering the same. We hope to have something to show you in the upcoming week, but we cannot make any guarantees at this time, but it is coming!
Yea I sent a DM to bill from Trex, he did agree that it didn't fall into their terms for a coin listing...
Bill DID say, they cant add UNLESS the dev does a compliance review then is a possibility
Thank you we appreciate you reaching out to Bill. When things get a little less hectic around here, we'll reach out to Bittrex asap and look to get a compliance review to be listed over there. We really appreciate your support and time reaching out to him.
So, I'll admit it, I never played DOTA or any of these other games before and don't really know much about them. I'm more of and oldschool UltimaOnline/DAOC/Warhammer pvp'r. Just made my first bet on a DOTA match like a true degen blind and watched the match, was cool shit.
Thanks for checking us out and we're glad you enjoyed the match. We hope you continue to use our platform and perhaps you may discover other games that are appealing to you in the future
Is there a PR plan? More articles? Maybe interview? Advertisement in coinmarketcap? AD time purchase at Daily Decrypt?
Any possible way for more explosion is what we need.
Any idea, suggestions? Exchanges will add GBT, they can smell.
Of course there is a plan and there will be plenty of advertisement articles, PR, marketing, etc to come. However, our number one priority is getting ourselves a professional user interface. We want to look and feel good for our many future customers. First impressions go along way!
I hope to be back tomorrow to answer more questions and update everyone again.