andref
While most altcoins are getting slaughtered, LTC shines propelled higher by Litepay and a new fork. Bitcoin continues its gains as well but stopped short of a new rally. Bitcoin Higher but Stops Short of New Rally Bitcoin prices traded even higher si...
sessin
The article is really interesting! I appreciate the decision of the Bank of England to conduct a study on cryptographic currencies and to introduce a national cryptocurrency by next year. Digital currencies continue to generate excitement these days....
andref
Ether is trading lower versus bitcoin this week. The crypto has lost 12 percent to big brother since Monday as BTC is the preferred crypto this week. Dash on the other hand continues to trade in a range. Ether Down 12 Percent As we mentioned above, E...
Buyer80
Distribution of a real aelf (ELF) !!! Ability to receive up to 5000 per week! traded on large exchanges https://coinmarketcap.com/currencies/aelf/#markets https://candy.aelf.io/account/register?invitationCode=0Q1T51dGbUcV
andref
During the past week, we’re seeing more gains for Bitcoin. This, in turn, led to gains in altcoins like Litecoin as the general crypto market recovers from large losses. Bitcoin Up by 13 Percent Bitcoin is currently quoted at $8,520 dollars per coi...
bzeebee
Suggested Hardware for Monero (XMR) Mining Rig GPUs: Sapphire NITRO+ RX 580 8GB Sapphire NITRO+ RX 580 4GB MSI RX 580 GAMING X 8G Gigabyte GTX 1070 G1 Gaming Gigabyte GTX 1080 Ti GAMING OC Motherboard: ASRock H81 PRO BTC, GIGABYTE GA-H110-D3A,...
Gotcha! And agreed. We could value LTBcoin initially based on the value we reward a piece of content with.
It would in the same measure it affects any Bitcoin tips now.
Regular users would probably want to keep some petty LTBCOIN in their "off blockchain" LTB account. With that in mind, it would make sense to have a withdrawal setting that can be ticked so it never completely drains your LTB account out to Counterparty, but leaves a specified amount of LTBCOIN on LTB for these purposes.
We still need to be careful with how much funds we allow people to store on the LTB system and evaluate the risks of doing that, though.
deweller said:
Say I have 99 LTBcoin in my account (which is not enough to meet the threshold), but I want to be paid NOW!
Perhaps we add a payout now option, but a 10 LTBc fee is charged. That way, LTB recovers the fee in LTBc and the recipient doesn't have to send any BTC to the platform just to get paid.
The user could verify that they own the recipient account by signing a message like "Please send me my 99 LTBcoin". Counterwallet has the signing function built in.
I think that will definitely be feasible at a certain point once LTBCOIN actually has value and the platform can buy BTC for LTBCOIN on the free market, if necessary, to cover those costs. However, until then we need to make sure we don't end up in a situation where transaction fees are a huge drain on the network's BTC resources.
The idea in your second comment could work, though again only once it is possible to figure out how much LTBCOIN to deduct to cover the fee. Users would be able to choose the threshold (within reasonable limits) at which their coins will be sent, to get more-frequent payments or save on fees.
Still, I think we should identify some value above which the network would cover the fee and automatically send the funds, both as a courtesy to its users who have provided a certain amount of value, and also to prevent people hoarding too many coins on the LTB system.
EDIT: Bitcoin has a "sendmany" command that lets you combine several recipients into a single transaction to save on fees, which will be more than a for a single transaction, but less than for individual transactions. The fees actually depend on the data size of the resulting big transaction. I've asked Xnova if it will be possible to do something like that with Counterparty at some point in the future. It would be another solution.
Regarding:
1) if I remember correctly it was Adam who proposed having a minimum threshold for payouts during the hangout last Saturday, and also that if a user doesn't meet the threshold but wants their money anyway, they can send BTC to cover the transaction fee and the transaction goes through.
2) People shouldn't lose their money just because they don't have an address associated with their account, but it should just accrue on the LTB system.
It would be nice if each LTB account generated automatically had a hot wallet created and associated with it, but that's a bad idea from a security standpoint and with people likely to forget their passphrases to an account they didn't really create themselves.
Storing small amounts of funds belonging to lots of users is an issue mining pools have to deal with, so maybe we could take a look at how they tackle it. I wonder if any in the community have experience with that.
Sent!
The proposal to give stakeholders direct rights to the sponsorship their work brings is great, but also creates a number of issues. Not least of these issues is how to make sure that LTBCOIN has a guaranteed value as the prime way to acquire sponsorship on the LTB network, when content creators are selling their own ads.
I have since outlined these issues and put together a proposal for a fair market system for LTB sponsord ads that will hopefully resolve them. Adam is on board with it, but we're not the only ones around and need the community's feedback before things get set in stone. (Please ignore the clutter of comments on your first read if you find them distracting.)
https://docs.google.com/document/d/1otLT6KsTlz7Wq5h4mhOs31Nd8mxvzqLnOojIadsGeIA/edit?usp=sharing
@adi -- These are still testnet coins so people can try things out before the launch. You will need to grab a testnet wallet at https://testnet.counterwallet.co and post an address from there.
Sent.
@Coinconomics, though the Altcoin Observer has apparently been put on the back burner, I'd like to point out this project and thread to you after reading the great LTBcoin Overview Report you posted last week. Are you be interested?
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