The LTB Network Forum

Here before the LTBCoin Launch? Get your part of the initial disbursement for the Initial Community

Back to LTBcoin Talk

Comments

• yshuifejng

  

  Offline
  Posts: 1

  I just joined.   Learning

  Posted on March 14, 2014 at 9:00 AM
  Permalink
  0 likes
• adam

  

  Offline
  Posts: 1980
  Location: California, USA

  Logan said: I thought you said that you were going to use Mastercoin as the protocol for your coin?

  Mastercoin is powering the Goxcoin project, which is just waiting on plaintiff groups to get organized with the Japanese bankruptcy court.  
  I'm involved or consulting on about 7 user created assets, we've just announced the second that will be built on XCP (http://permacredits.com) and LTB will also be built on XCP.
  I'm getting ready to announce a project built on NXT, frankly they're the furthest along with their interfaces and their software ecosystem is amazing because they're so decentralized.  The fact that Mastercoin has a big pile of money for developing means that it's on them to develop all the stuff, so their slowness has been in  part because they raised development funds.  
  NXT by contrast raised $2100 worth of bitcoin (at the time) and so the ecosystem that emerged built the tools quietly, on their own, because they each wanted to be the first or the best in their own way so you get http://nxtclient.org ;
  My advice: own everything so you can look at them all objectively.  I 100% believe these 2.0 protocols and layers are the next big wave of disruption from the plonker bitcoin begat, but just like early computers there are going to be many who succeed before they fail.  No sense not betting on every horse when the buy-in for a basket of stake is sub $100 http://dacindex.com ;

  Posted on March 14, 2014 at 2:52 PM
  Permalink
  0 likes
• prabhu_str1

  

  Offline
  Posts: 2

  Very much interested. Its win-win for ltbcoin and counterparty.

  Posted on March 14, 2014 at 6:15 PM
  Permalink
  0 likes
• Jookly

  

  Offline
  Posts: 4

  New here. I'm definitly curious about this.  Going to read up some.

  Posted on March 14, 2014 at 6:56 PM
  Permalink
  0 likes
• prabhu_str1

  

  Offline
  Posts: 2

  It has been registered already. I think just waiting for web based counterwallet.
  

  biophil said: Adam, you're building this on Counterparty? You really need to reserve the LTBcoin asset name pronto. It's not that expensive ($25 maybe), and there are enough troll-types over on XCP that I'm surprised nobody has squatted it yet.
  

  
  

  Posted on March 14, 2014 at 7:34 PM
  Last Edited: March 14, 2014 at 8:00 PM
  Permalink
  0 likes
• werneo

  

  Offline
  Posts: 3

  Thanks, Adam, for all you do. LTB has become part of my daily life.

  Posted on March 15, 2014 at 1:22 AM
  Permalink
  0 likes
• EastSide

  

  Offline
  Posts: 9

  That was a BLAST today!!! Thanks Adam for hosting a great meeting! I'm more excited about LTB coin than I was yesterday and I'm ready to go! I also love your idea of a label coin for music!
  Count me in and know that you can count on me when you need me!
  To quote the pre morphed Michael Jackson: "Just call my name and I'll be there" !
  : )
  

  Posted on March 15, 2014 at 10:50 PM
  Permalink
  0 likes
• TomSherlock

  

  Offline
  Posts: 39

  Adam said: Thanks for all the responses so far, my other question is: what can you redeem for LTBCoin? Aside from its fiat-based correlation later on, what did you have in mind for say 100000 LTBC? Can you redeem them for advertising time? For schwag? It's a very neat idea, I suspect other hosts/editors will watch this use-case to see how it develops.

  Part of the switch will involve moving the sale of sponsor time only in LTBcoin. These slots will be sold informally at first, but we'll be moving towards having monthly sponsor time auctions where people bid live and sponsors send representatives to try and get some cheap time. That also means the "price" doesn't matter, because it's people interested in the thing competing against each other based on their LTBcoin resources.

  I expect some early members to buy sponsor slots then go shop the time to sponsors who will pay them in bitcoin or dollars (more than they paid worth of LTBcoin since not many people understand it).

  The idea here is to "leave money on the table" so people come along and do the work, and get some of that money.

  So, in essence, LTBCoins are backed by sponsor time.  And what is the value of one LTBCoin (SponsorTimeCoin?  AirTimeCoin?)?  Is one coin worth 1 minutes, for example?
  
  I suggest that price does matter.  The amount of LTBCoins that one pays back to the issuer should be relative the amount time desired for a time slot.  Of course I can see the price increasing dependent on the demand:  as the amount of potential sponsors increases against a set amount of time slots, the price of each time slot would increase in LTBCoins.  

  Posted on March 16, 2014 at 12:37 AM
  Permalink
  0 likes
• adam

  

  Offline
  Posts: 1980
  Location: California, USA

  Sponsor slots are auctioned to the highest bidder, so it only matters what the relative distribution is and how much people want it.  
  The price does not matter, sponsors won't understand what we're doing but that doesn't stop someone from creating a business around buying our sponsor tokens at our auctions for LTBcoin and selling it to a real sponsor for whom it is valuable for Bitcoin or even for Dollars.  If this is successful, those sponsors will figure out they can get it cheaper just buying some LTBcoin on a market and assign a lacky to deal with the monthly auction because it's cheaper than buying it from a reseller, and they value it enough to pay more than eventually it's worth jumping through the hoops to pay less.
  So the amount of coins or the value of them is irrelevant, it only matters what the "Float" is, and how much interest there is.  Content creators aren't paid from this for the first few years anyhow, sponsor revenue just determines how large of an allocation those creators should get from the "incentive" pool of new coins.  
  
  Because we've built deflationary traits into the currency, if the network succeeds and this attracts people who join our audience, become stakeholders and evangelists of the network as I believe this will do, than all of those evangelists will profit from every new stakeholder coming in and wanting a piece.    Because it does not rely on one show, but a network of shows and blogs it can be resilient and redundant.   And it bootstraps itself.
  Also you need to broaden your definition of "sponsor" to include individuals or groups of individuals, it is not just companies with products.

  Posted on March 16, 2014 at 12:55 AM
  Permalink
  0 likes
• her0

  

  Offline
  Posts: 7

  hi Adam , we are the virtual currency enthusiasts from China, our QQ group number 155 919 472, and now I recommend everyone in the group to focus on the currency. Chinese want to see this message to join our group.
  By the way, I saw you and bytemaster bitsharestalk debate, I totally agree with your point of view. I hope this coin is not capricious.
  

  Posted on March 17, 2014 at 5:36 AM
  Last Edited: March 17, 2014 at 5:37 AM
  Permalink
  0 likes

Post Reply