Community Directory

Re: LTBcoin podcast name?

I'm thinking Project LTBcoin

Watch the first LTBCoin Q&A Now!

Tune into the first LTBcoin Q&A, recorded live 3/15/2014?
https://www.youtube.com/watch?v=hcFGR_VUheA

Re: Bug in episodes page http://letstalkbitcoin.com/episodes

Yeah, the old webpage has been basically frozen - we'll be transitioning to the new portal soon, these problems will be resolved at that point.

Re: DACIndex.com Metacoins, Crypto 2.0 and User Created Asset Index

@schmidty davidpbrown said: Detail for total Mastercoin MSC looks wrong relative to detail in their FAQ http://wiki.mastercoin.org/index.php/FAQ#How_many_mastercoins_exist.3F
=> 619478.59338440 MSC, rather than 563162 MSC.

See dev confirmation of the same issue to coinmarketcap in the BCT thread:
https://bitcointalk.org/index.php?topic=199685.msg5692918#msg5692918

For the MVP version of DacIndex we're just using numbers from CoinMarketCap

Re: Is it possible to summarize the business model of LTB?

I don't think it's possible yet, but you're welcome to stay and learn with us.

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

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.

Re: Metacoins! Here's what I've got, which ones am I missing? Whats your favorite?

Strip said: Adam. What do you think about invictus team? Do you leave their comminity forever? Do they lose your support editor-in-chief of LTB show?
I'm just thinking that they will not achieve a broad auditory of users without support of LTB network.In your recent podcasts there is almost none mentioning of bitsheres despite of constant discussions about coins 2.0.

As an investor, I am unhappy with Invictus.  I have posted quite a bit on their forums,  my complaints should be apparent if you go looking.  I remain an investor because even though I disagree with their decisions, they have a very large amount of money to burn through before it's even possible for them to fail, so in the interim they might succeed despite their (in my view) poor priorities.   I also think that Invictus continues to approach a different problem than many of the other platforms, and even if Bitshares were to fail Invictus itself can be a DAC creation vehicle that might be even more profitable if they get out of the DAC Platform business and into the DAC building business on whatever platform winds up succeeding.  Long story short, I am a long term believer short term skeptic.
As the Editor-in-Chief of Let's Talk Bitcoin!, my relationship with invictus hasn't changed since we did  our first interview back in... What, July?  I think they have great ideas, I think they're powerful and will change things.  They have an invitation to use our platform just like anybody else, and I've offered to run (on the network, not personally) a Bitshares-Ecosystem focused weekly community show, same as I offered to Ethereum and everybody else.   
You shouldn't care too much about my opinion, I'm just the schlub asking the obvious questions.  This is uncharted territory so just because I record myself when I talk doesn't mean I know what'll happen.

Re: LTBcoin Launch Day Distribution

Also Griff, you misunderstood the first post - It is not 50% of the total money supply, it is 50% of the first weeks issuance.  There are another 300 weeks worth of distribution after that.

Re: LTBcoin Launch Day Distribution

daydreamtrader said: Wow! 50% premine... Is that set in stone...? It seems a little high... It will probably work out because you guys have such a great following, (including me. I listen to every episode that comes out the day it comes out) but as a normal invester would never buy a coin that was premined too such an extent... Even if I trust the people who receive it not to sell them off... Just saying... why not premine a little less to try to attract more investors? Or is it just that if you premine at all you might as well go big?

Much Love,
Griff

There is a five year, weekly distribution schedule and the coins are not computationally mined at all.  This is a user created asset and new coins will be created once per week and distributed to Content Creators, the Audience and the Platform each week.   
We actually aren't using the coin to fundraise, if you want to buy sponsor time on the LTB network you can buy LTBcoin from someone who got it through one of the distribution methods.   I'm not really sure you can fairly call this a "premine" so much as it is non-computational mining.  
There are rules that govern the distribution, and they favor nobody in particular.  There will be a small portion (less than 1%) devoted to people who created content over the last year without expectation of compensation, but that's really just back-pay for the people who got us to where we are today.
User Created Assets are a new thing, and they're not well understood - Does this clear anything up for you?

Re: A couple of Newbie questions

Right, currently there is a single LTBcoin in existence which is held by one of the creators of Counterparty.You can see that herehttp://blockscan.com/assetInfo.aspx?q=LTBCOIN

LTBcoin will be distributed in a three primary ways - Content creation (Largest) Audience Participation (Second) and Platform/Partnerships (Least).   We're still talking about the rules for each of these categories, and where the various funds go.   I launched the LTBcoin forums with a good idea what I wanted to do, but very much not complete as I want others to help define and create this protocol.
The forums are confusing to new people because they are a bit overwhelming.  I hope to remedy this by early next week with a landing page.