Post
Topic
Board Project Development
Re: [Pre-ANN] B&C Exchange – A decentralized cryptocurrency exchange for everyone
by
JordanLee
on 21/04/2015, 18:58:33 UTC
1) If I hold 1 million Blockshares out of the 900 million, will I receive 1/900th of the transaction fees as a bitcoin dividend?

If you hold 1/900th of all BlockShares, you will receive 1/900th of all Bitcoin dividends (this will be very slightly skewed by the fact that some of the dividend will be used to pay Bitcoin transaction fees to transfer the dividends and nothing will be sent to BlockShare owners that would receive less than the Bitcoin transaction fee).

Dividends are not tied directly to transaction fees. Rather, they are tied to the number of BlockCredits sold (which can only be used to pay for transaction fees).

2) Given your funding request will be successful, how long will it take to realize the project?

This is an important question, and one I would like to know the answer to as well. Development of an unprecedented software solution such as B&C Exchange is characterized by the unfolding of unexpected issues which must be solved.

I have delivered an unprecedented blockchain solution in the past in the form of the Nu network, which pioneered stable cryptocurrency and the ability of shareholders to constantly adjust the protocol by voting. The network worked just as promised and was delivered in 8 months at a cost of around 250,000 USD. While I made no promises about the time it would take to deliver Nu, I will report that I privately thought it would take 6 months and 500,000 USD. So, I was 50% under budget and 33% over my private time estimate.

I can say that I believe B&C Exchange is modestly or slightly simpler than creating the Peershare template and Nu. I am absolutely committed to doing everything in my power to delivering it as quickly as possible. However, investors should be aware that I am unable to absolutely guarantee its delivery at all, and I can't guarantee it will be delivered in a certain time frame or for a certain cost.