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  • Re: Subjective Coin Distribution.

    T62A said:

    Adam said:Does this satisfy you concern?  I'm definitely looking for ways to divest myself of total responisibility.  I'm a known figure, having the exclusive ability to create money might be dangerous for my health.

    More or less, still trying to figure some things out, mainly the rarity/scarcity of the coin. So basically LTB can create more LTBcoins whenever it wants, but, it will create a fixed amount each week (i.e. 100 each week).My opinion is that this is okay as long as the amount is fixed and LTB creates always that fixed amount or less per week. We would still have to trust LTB to do not create more than the fixed amount (we can see if LTB does that, but we can't do anything about that if it does), at least the number of distributed coins would not be random ruining rarity. This way we have both rarity (only 100 coins per week) and a "unlimited" lifetime in which LTB can pay miners.
    I still don't like the "trust" idea, less after gox lol! but it will be very interesting to stick around and see how people play this coin.


    The problem with gox was transparency.  If as soon as someone broke the rules and the system wasn't performing as directed, people would have noticed, freaked out and it would have been resolved immediately before things could proceed.
    Our asset is public, you can see the very block each was created by, and what addresses they're distributed to. - Currently there has been one issuance, but every week there will be a new one.
    Also, LTBcoins are not being issued on a fixed schedule (i.e. 100 per week) they are being issued on a fixed deflationary schedule, (i.e. 100 for the first week, 99 for the second week, 98 for the third week, etc).  Numbers used in this example are obviously not real.

  • Re: LTBcoin and "Sponsor Slot Tokens"

    Also it's important to note that the first auction there will be like 25 sponsor tokens total in existence, and those 25 will only ever grow  TomSherlock said: Hmmm.  this "callable" aspect shares some similarities with demurrage, in that it is valid for a certain amount of time only.  Although your 'callable' coins have only a binary or boolean value: they either have some value or no value, whereas demurrages eats away at a unit of exchange little by little over time. But, like you said, these tokens are 'assets' not UOE.

    "Callable" actually is not similar to demmurage, which is a monetary phenomenon.   This is more like an option that once purchased can be exercised or not, but since it dealt with a specific timeframe once the opportunity to use it has passed its value is effectively zero.  
    So with sponsor tokens, you'll have a month before they need to be turned in, you can turn them in immediately with LTB to book your particular slot. Or you can not turn them in and after the month has passed and the sponsorships are locked, a charity or network spot will be played instead during the vacant times, at which point you'll get paid like .1XCP or whatever we decide is the "call" value for an unredeemed sponsorship.

    The concept is use-it-or-lose-it without requiring the person we sell it to for LTB to be the same exact person who uses it, and many trades can happen with a single slot that LTB does not have to know or care about until someone redeems it for the sponsorship.

  • LTBcoin and "Sponsor Slot Tokens"

    This discussion was created from comments split from: Here before the LTBCoin Launch? Get your part of the initial disbursement for the Initial Community.

  • Re: LTBcoin and "Sponsor Slot Tokens"

    We are bringing the market in for pricing information everywhere we can.   This isn't defined in the spec yet.
    The way it works is this: People acquire LTBcoin, and we auction these sponsor slots FOR LTBcoin on the Counterparty Distributed Exchange, or on the forum depending on how long it takes the DEX to pick up speed.  The auctions will be announced in advance and open to everyone.    
    Where LTBcoin is like our community currency, Sponsor Slots are not a currency - they represent one (at the start month long) thirty seconds-of-airtime sponsorship on whatever the specific show is indicated by the token.  So a sponsor slot on LTB is not fungible with a sponsor slot on mad money machine, but all spots on mad money machine are fungible with other slots on mad money machine.  We could specify this more by saying "MMM Slot 1, MMM Slot 2" with those matching stated definitions.
    The wallets we'll use are multiwallets, so it is not a problem to have 10+ user tokens if that makes sense because they all sit nested and controllable in the same wallet as you'll keep your Bitcoins and XCP in.
    So while you'll be able to buy LTBcoin for other cryptos and maybe even dollars if somebody makes it happen, you'll only be able to buy sponsor slots with LTBcoin if you buy it direct from LTB.   Those people who buy it from LTB will be able to resell the token to someone who values it more, which improves the perceivedvaluation of our community currency and eventually drive sponsors to our LTBcoin because it lets them cut out the middleman and achieve a cost savings relative to buying it from someone who bought it from us and then marked it up.

  • Re: Watch the first LTBCoin Q&A Now!

    aaron said: Suggest to use the NEM stakeholder list as it contains 4000 stakeholders which will be good to distribute the LTB.

    Why would we give value to people who have expressed no interest in the value we're creating?  

  • Re: LTBCoin=GloballShare+Coin2+Faircoin

    TomSherlock said:

    Adam said: Right, LTB is one of a new wave of coins that are "Money+" to Bitcoin's "Money".   Our coin is both one of the first user created assets, and will support an ecosystem of content creators and consumers who benefit from the virtuous cycle we're creating here.

    At the risk of repeating myself (and publishing redundant posts):
    Perhaps LTBcoin is acting like a complementary currency as it is not competing with Bitcoin but rather adds to Bitcoins value (and the greater cryptocurrency ecosystem) by filling spaces where Bitcoin may not be found.

    Also, with regards to issuing the currency:  paying it into circulation for content creation strikes me as a valid approach.

    Yep, you got it.  That is exactly the point.  LTBcoin is an ecosystem within Bitcoins ecosystem, just like every other coin out there.  At the point that Bitcoin is no longer the global liquidity onramp for cryptocurrency investment this might change and the big ecosystem will splinter into several big ones and many many little ones.

  • The new LTB Platform

    This discussion was created from comments split from: Introduce yourself!.

  • Re: The new LTB Platform

    Feel free to share.

  • Re: LTBcoin and "Sponsor Slot Tokens"

    Yeah it's fine to talk about it here, in the beginning the sponsor spots will be 4 30s spots on each of a month worth of shows (So it might be 4 per month for most, or 8 per month for LTB), per show (or blog)  For blogs these will represent display advertisement space at first, but I have a better idea I want to push on that should make this better.
    It's a little abstract but basically every show is going to get its own "callable" asset which are then auctioned based on whatever the time period is.  The reason to use a token instead of just accepting LTBcoin directly for time is because this allows anyone to become a sales rep for shows on the LTB network, a fan can buy it for LTBcoin then sell it to someone who meets our sponsor standards for bitcoin or dollars or more LTBcoin, whatever.  The difference in what they paid us at auction and what they were able to sell it for is their profit, and it can change hands multiple times.
    We don't actually care who winds up trading in the token for the airtime, and I figure these auctions will happen about a month in advance to allow time for them to find the right owner who most values it.   If nobody turns it in, no big deal - The terms of these tokens is basically use it or lose it, if one doesn't get turned in it gets "called" back at the specified date/time and specified price so it can be sold again for the next time period.

  • Re: What are your thoughts on DeleteCoin? Could LTBcoin use this model?

    That's a really interesting idea Matt.   We actually might be able to do this without LTB having to become the bank of awful alts that nobody wants using one of my other projects, i'll check on that.

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