Community Directory


Go back

User Activity

Forum Posts

  • Replies: 1,764
  • Topics: 216
  • Likes Received: 1,244
  • Re: Tipping LTB with LTBcoin

    @william

    @adam

    @william OK. Fair enough. It's good to know that there is enough momentum in this project to continue without immediate needs from funds. I guess that in the long term the network itself could sell coins on the market to subsidize those airfares and audio equipment? Also, what about the total coin distribution? Is there a way to see this on the Counterparty block explorer?

    Try this http://blockscan.com/assetInfo.aspx?q=LTBCOIN

    You can also look at Shareholders to see who has what.

    The final quantity will be 510 million LTBC issued over five years (mostly the first two)

    The network does have "funds" both in the form of the 10% of each weekly allocation that go to the Infrastructure/Platform warchest, but we hope to pay as many people as possible actually in LTBC rather than selling it. For now we are paying necessary costs in BTC and will be transparently compensating that expense with LTBC.

    So, about 57million coins have been issued? Can we know which address is the 10% weekly allocation to the platform? Presumably the largest wallets are owned by the podcast creators and authors from last year? And the rest of the addressess--like my 20,000LTB address--are based on activity on ltbcoin.com (i.e. number of posts a person has done)?

    Much of the 51 million initially created have yet to be delivered

    You can see the initial distribution details in the charts here http://ltbcoin.letstalkbitcoin.com/

    Here are more detailed documents that show who received what initially

    https://docs.google.com/spreadsheets/d/1Q8LPgBGKnM666Ay7IjLPZ4npifc3_22_JOZBXQxC9k4/edit?usp=sharing

    Of my part, here is a further breakdown of about 8.8 million of the 9ish I earned https://docs.google.com/spreadsheets/d/12WyPA99S2q5O6g34GQD8vSRZtJpw5h_E45IC4KeD5Pw/edit?usp=sharing

    https://docs.google.com/spreadsheets/d/1NuPk1M7oeMcW6kEcpoKGDA6NS9HFxmo5KFx76RyIa84/edit?usp=sharing

    https://docs.google.com/spreadsheets/d/1riyEFqV-G6uIn84kW3lFzqr2GRGDOPGCExwqt8vNbYE/edit?usp=sharing

  • Re: Trading LTBCOIN for XCP

    @sile16

    Actually you're just looking at a really new, inflationary token trying to find its market. The dex is by definition more decentralized and so price discovery is spotty and volumes are generally low.

    But for now, we are so diffuse and few that the centralized option is better.

    I don't think decentralized vs centralized has any impact on price discovery or volume. The user interface should be close to identical between counterparty and melotic. I think It does have something to do with just current users/trading volume on the platform:

    http://www.cryptoassetcharts.info/markets/info

    Melotic: 24H - 13.15 BTC

    Counterparty: 14H - 1.7BTC (I was manually adding up transaction values and got to 14hours worth and gave up)

    NXT: 24H 38.63 BTC

    Surprisingly the NXT Asset Exchange has more volume than counterparty and Melotic combined. I'm sure that will be a factor for other people looking to launch an Asset as it helps avoid the need or desire to also list on centralized exchanges.

    I'm curious as to how blocktimes affect user adoption. Clearly trade execution times are dependant on this and users at some point may not like having to wait the long time for execution results. I wonder at what threshold and how much that affects whether users use the DEX or move assets into a centralized exchange for trading.

    Yeah, NXT has a lot more options and has been around longer. Melotic opened in the last few weeks and the counterwallet interface, until the last what, two weeks? has had literally nothing real to trade unless you bought gold from digital tangible trust.

    I'm a fan of NXT, but it's not the platform we went with for LTBCOIN so it's sorta moot.

  • Re: THINGS YOU CAN DO WITH YOUR LTBCOIN

    @theanarchistblockchainqueen I'm really looking forward to tipping as well. It's a nice way to let content creators know that I enjoy their work.

    Yes!

    Although actually you can do it, the bottom of each post has a tip address that goes straight to the author (no more proxy addresses that forward the funds in order to track)

  • Re: Tipping LTB with LTBcoin

    @william OK. Fair enough. It's good to know that there is enough momentum in this project to continue without immediate needs from funds. I guess that in the long term the network itself could sell coins on the market to subsidize those airfares and audio equipment? Also, what about the total coin distribution? Is there a way to see this on the Counterparty block explorer?

    Try this http://blockscan.com/assetInfo.aspx?q=LTBCOIN

    You can also look at Shareholders to see who has what.

    The final quantity will be 510 million LTBC issued over five years (mostly the first two)

    The network does have "funds" both in the form of the 10% of each weekly allocation that go to the Infrastructure/Platform warchest, but we hope to pay as many people as possible actually in LTBC rather than selling it. For now we are paying necessary costs in BTC and will be transparently compensating that expense with LTBC.

  • Re: Trading LTBCOIN for XCP

    @sile16 Yeah, I hate to admit it but I basically lost a whole BTC.... as i said it looked like I would get more XCP by going through LTBCOIN.... so I bought 1 BTC worth of LTBCOIN (40k), but now looking on melotic.com that is worth about .004 BTC... so... Someone got a really good deal on 40k of LTBCOIN.

    http://live.insight.is/tx/a2f7ca11da3017a1d4eff914aa643ed2cbe4547c65c6daed4e486c5dabeae588

    Order Match 1HdggAwyv6Rn9f6VN2yAjjJSLmuDJuJCpP sent 39,033.218874 LTBCOIN My Address #1 sent 1.06648139 BTC (pending BTCpay)

    Luckily, since 2011, this is the first time i've made any significant crypto money just disappear...

    It seems odd to me that an external exchange would be more liquid than the built in exchange on Counterparty. Why would people use a 3rd party site?

    Actually you're just looking at a really new, inflationary token trying to find its market. The dex is by definition more decentralized and so price discovery is spotty and volumes are generally low. Eventually this will be the best way to get LTBCOIN because there will be a critical mass of users, and this will be the lowest barrier (just a bitcoin transaction fee to send the order).

    But for now, we are so diffuse and few that the centralized option is better. Think of it as the first true node in the LTBCOIN network that we will grow on until reaching that critical mass point, and then explode like a cosmic bomb throwing little bits of our DNA to every corner of the universe

    :)

  • Re: Consulting Request

    +1 on this, good question and excellent initiative.

  • Re: SWARM.XCP - Swarm Coin.

    Update:

    @adam

    @lainfinity @adam Regarding Swarm If I want to crowd fund I can create an asset token in counterparty and promote the asset for funding like Tatianacoin.

    Then what is the objective of Swarm coin, how does it differentiate from counterparty.

    Swarm, like coinpowers.com, is a front-end that adds features on top of the ones already provided by Counterparty. You don't have to use either, you can just use Counterparty and promote the project yourself.

    The point of something like swarm is that whenever a project hits that platform, everybody knows if it succeeds they get some of it (relative to their swarm tokens), and so they have a vested interest from minute one in helping it succeed.

    Thus the theory goes, the swarm will propel worthwhile projects to success more than doing it alone because you get the entire swarm community instead of having to start from scratch.

    That said, I've eliminated my involvement with the project and cannot recommend it after some recent experiances with the team leadership. The model could just as easily be done by anybody else, and in an environment where the best community wins I'm not confident swarm will be it.

    The catalysts of projects like this have an undue amount of impact on the cultures they create, so founders really matter when I look at a project.

    Original Post:

    I'm a bit tainted in this conversation as I've been one of the guys pushing Joel to do swarm as it's being done. Needless to say, I think it's a good idea but you need to do your due dilligence.

    To your questions

    1 - Is it legal? A: It looks an awful lot like a gray area, but if anyone is going to test the "is it legal" question, it'll be swarm. Everybody else is couching their phrasing (backers instead of investors) but Swarm is going in with all the red light words except equity. Note I am also a part of Coinpowers.com

    2 - Are the founder credible? A: This seems like a personal judgement. They seem credible, but they fundraised before building the platform so it's hard to tell.

    3 - What swarm offers is simplicity and stake - You hold their tokens, you get some of everything that launches successfully. There's other stuff in there too, but thats most of the value. Because of the number of token swarm is releasing, it is really difficult to tell if this is a sure-fire win or not, even if the swarm platform succeeds but they only launch small projects or projects that do not go on to succeed, having tens of millions of tokens out there means whatever return there is will be split many many ways.

    Another thing to note is that Swarm is the first to use this model but certainly won't be the last, so again you're back to the "is it better to bet on a particular horse winning the race, or is it better to make a less lucrative bet that the race will happen at all".

    BTC is a bet that crowdfunding is a thing, and that Bitcoin is a primary vehicle for it. That increases the utility of the ecosystem, which increases the demand for the token without impacting supply which causes the price to bias higher, all other things being equal.

    Conversely, if you think SWARM is the right team to bring this thing mainstream (Think "You've Got Mail!" in the late 90s suddenly giving the older generations an idea of why the hell you'd want to have an AOL account anyways), it makes sense to keep your bitcoin in that form because even though its more likely crypto-property crowdsales will succeed than swarm individually will succeed, if swarm does succeed you will see an outsized return compared to the bitcoin-ecosystem bet.

    This is not advice, I am not a lawyer.

  • Re: LTB Conference/Summit/Expo

    Yes, we've been talking since the beginning of the year about doing one in Iceland spring 2015, but with so many conferences all the time we're now thinking it might be better (we = me and my wife Krystal) to do something virtual and focus on the content rather than the venue, sell virtual conference tickets (cheaper in LTBCOIN) etc.

    I love conferences but man do I hate to travel.

  • Re: Tipping LTB with LTBcoin

    @william The interesting thing in all of this to me is not whether or not Adam bids on his own commercial slots--it is his show, he could bid if he wants, or just put in his own extra spot on his own initiative, whatever. What is interesting to me is how is he going to continue making enough money from this show now that LTBcoin is in the picture, compared to before when he just sold those slots and presumably got cash? I can't remember the exact figure, but I think he mentioned somewhere that he was making $300 or 500 or so per show from the ads? I mean, with all the production effort and other aspects of work that goes into making this show, it's not a trivial undertaking. Presumably adam needs to make a living off of his work. I think the idea is that he can sell his LTBcoin to the advertiser (on an exchange, or whatever) and then the advertiser uses that to buy the airtime? But if there are already 2 million+ coins out there (do we know how many have been distributed, BTW?), why does anyone need to buy them right now? And, how do we know they would buy them from Adam, who is the one who is supposed to be making a living off of this. Do I make sense?

    Yep, it makes sense entirely except for one thing... I don't actually need to make a living off of this, and certainly not in the short term. Pretty much all the funds we've brought in via sponsorships have been reinvested into travel for conferences, building the new platform, the first app, experimenting with radio for three months, etc.

    Would I like to make money? Sure! but the point is to see if this can succeed, and that might take a while.

    No rush.

  • Re: It's Expensive Using Bitcoin!

    @troy112 Can't we have something like internal transaction, like cryptsy trade key. The funds can move internally in counterwallet's servers and when we wanna trade them out or to get it in other wallets we can send it on bitcoin blockchain. What do you think about this?

    We actually made a conscious decision not to do this. There are the advantages you mentioned, but it also puts a lot more trust on LTB which the token is in large part designed to make unnecessary.

    That said, we are looking at this as one of several solutions to what will be a more meaningful long term problem.

© Copyright 2013–2016 The LTB Network. All rights reserved .