Rebirth of BitcoinZ

Proposals
#42

The main issues I see are:

  1. Trading coin 100:1 will cause most miners and early adopters to bail. Just cutting stock by 100x is unlikely to boost value by 100x in any realistic timeframe and most will see this as a backstab.
  2. Dropping the block reward to effectively 1% while prices are low will drive away miners by killing profitability. I could see factoring in a scaled reduction of the block reward over time that could be implemented (or held) as coin value/adoption increases.

Realistically, the best way to breath life into the coin is to drive up usage. People keep talking about how much BTCZ to buy a cup of coffee when no coffee shops accept BTCZ. If I walked into my local Starbucks and offered them a million BTCZ for a small coffee, I would leave without a drink.

I mine as a hobby. My day job is operating an ecommerce site, and if I wanted to accept BTCZ on my site I would be on my own. What the community needs is a way for people to easily integrate BTCZ payments into their business. The coin has a low value because its’ use cases right now are hodl/trade.

2 Likes
#43

I’m sorry if I’ve hurt somebody with this tweet. I like to make art with a touch of humor. By the way I am a grandmother with grandsons and I love blockchain, these new technologies… And i love #BTCZ’s ideas, community, mission…etc…

2 Likes
#44

Anyone who wants to come by my house for coffee in exchange for 1 million BTCZ is more than welcome to. I’ll keep brewing and serving until you’re satisfied!

I suppose that puts me out in front of Starbucks in this respect … :grin:

The point about usage is valid, and will take time to solve. Very basically though, those who possess BTCZ must convince others to take it in return for goods or services. Getting BTCZ into the hands of more people means more people available to do the convincing. Getting BTCZ into the hands of more people is a serious subject for community discussion and action.

Meanwhile, every holder can begin in their personal life to offer the coin to other individuals, freelancers, etc. Holders can also ask to be paid in BTCZ for services they provide as individuals. While it is worth what it is worth today the numbers would be I’d guess in thousands of BTCZ per hour. If the coin succeeds, those numbers will fall over time.

#45

The software that currently sends 100% of of newly mined block to the successful miner’s blockchain address could be altered to send less than 100% to that address and the difference somewhere else. Which is to say, it’s a policy decision, not a law of nature!

#46

Wow :thinking: that’s a talk thread !

(I’m french native and I will have to read the whole again to understand correctly. And also sorry for my bad englich)

My first thought on this: I do not agree with this proposal! “By changing the rules of the game the victory will be short-lived and people will lose interest”

So after a year already, we will change the basic parameters! And in September 2019 again? So the BTCZ is another shitcoin that wants to serve finance (the rich more and more rich) and not the interest of facilitating the payment of services ?! I hope that I misunderstood and that I’m wrong …

I represent a small community in Switzerland, in anticipation that will accepte the BTCZ: several bar of Lausanne and cruises in solar boats: http://www.lebateaucool.ch/ It is only the beginning! And we distribute free several thousands of BTCZ each weekkend to the tourists to use it … it’s been more than 6 months that we mining BTCZ, not to keep them, but to put them in circulation and make known this crypto … That’s what we need to do: more services, talk about it more, and than people will adopt it. And not waiting to become rich … I remember that in 2010, 2 pizza cost was 10’000 BTC ! And some people here would have that after one year !

One more important thing: for when game development (or something like smart contract) ? This will really change the interest for the BTCZ I think !

“I not work for me, I work for a better future of my children”

7 Likes
#47

Each and every coin was still mined by a miner. You are simply suggesting a tax on the miner. White paper says no developer fees so that would need to be changed. The whole point of this proposal is to turn BTCZ into something it isn’t and that is just wrong. Start a new coin if these folks don’t like this one. To devalue what has already been mined or paid for by 90% would be very low deed at best.

From the beginning I saw this coin as a defacto “public premine” that anyone who wanted could take part in. Mine it and hold it and when adoption takes place you will be rewarded. Now folks are talking about turning that upside down. My nearly a year of buying hardware and paying electric bills thrown out the window because someone wants to remake the coin I chose to embrace?

Folks come by on ANN all the time and suggest cutting total supply or change this or that to prop up price and each time they are rightfully sent packing. I’m more than a little surprised that this proposal was even seriously put forward here. I’m done talking about it now.

I guess I’m not really done talking about this after all! Sorry. I had suggested a 1% fee for the developers and advertising on the new miner when it was created for the new algorithm, then EWBF came along with a real winner and made that idea moot. I would still support a 1% tax to advertise BTCZ. God bless y’all,

3 Likes
#48

Lol. I would too, if I owned a coffee house that is. :thinking:

1 Like
#49

Hello everyone, lately I have little time for btcz, but I wanted to leave some comments on the proposal.

I understand that whitepaper is a contract and like any contract it is logical that it has immutable parameters, if I decide to invest in btcz, I know that I am buying, for me it is important not to modify these parameters and I understand that people feel cheated.

On the other hand I think that one of the basic pillars of a currency or any other blockchain project, investment, etc, is trust, something that seems to be scarce lately by btcz.

I know that equipool and anyone else involved in this proposal do so with the best intention, that they also really believe it and that it is for the good of btcz.

The idea that I found very interesting is to reduce the size of the blocks and the time to get confirmations faster but in my opinion should follow the current guidelines.

12,500 btcz every 2.5min, 5000 btcz every 1 min, 2500 btcz every 30 sec, etc

1 Like
#50

I’m sorry to have created a proposal that caused everyone to get so heated up. This was not my intention in any way. I’m closing this thread and don’t plan to pursue this idea any further. Thanks to everyone who provided constructive feedback!

1 Like
#51