Re: BITSTONE-BST-NO PREMINE-NO ICO

Block Explorer is now up:

https://chainz.cryptoid.info/bst/

Exchanges are being contacted to inquire about the addition of BitStone.

BitStoneDev

Where is your reevaluated business model and other promises from the old version:

https://bitcointalk.org/index.php?topic=1088486.0

Do you still have $1m to back this coin? Where is the BitStone Store?

Quote from: BitStoneDev on June 12, 2015, 10:39:08 PM

Yes we have set aside $1M in Diamonds, Gems, Sapphires, Ruby's, Gallery Artwork, etc that will all be available in exchange for BST in our BitStone Store day 1 of launch.

Welcome Back Suchmoon,

Business Model has been reevaluated, along with the core specs of BitStone.

Lets remember BitStone never officially launched when the last thread in question was created.

That thread was used as a gauge of interest, as we were looking for the communities opinion on things.

Ideas, plans, and goals set in the old thread you mentioned - along with quotes from the old thread you mentioned... are "old" ideas, "old" plans, and outdated goals.

We went back to the drawing table and have come up with simpler ways to launch BST and get its foundation built.

We also listened and acted on the recommendations the community voiced:

We eliminated the ICO.
We eliminated the PREMINE.
We reconfigured the BitStone algorithm to X11 instead of SHA256.
We modified the coin supply/distribution model to cater more towards the community.
We modified the annual Proof of Stake percentage to 1% /month - 12% /yr.

There are many other partnerships behind the scenes that we developed...and one of those partnerships will empower us to have multiple BitStone Accepting Merchants, and finer details on those partnerships will be released in due time.

We have more supply than before and soon will be able to sell these goods for BST.

Stay tuned,

BitStoneDev

What's the timeline for the "partnerships"? Why was it launched without having those deals in place?

And why didn't you explicitly state in the starting posts of each thread that these two coins have nothing in common. The main premise of the old coin was that it was going to be backed by $1m in assets. If that's no longer the case then reusing the same name and not clearly spelling out the concept of the new coin is deceptive at best.

Hello Suchmoon,

Partnerships are currently in place, and the reveal of these partnerships will be soon.

We have professionally licensed graders signed on with us, and the ability to offer a lot more than $1M in product with open store fronts ready to start officially accepting BitStone.

Backing a Crypto Currency with any tangible item is risky business as our attorneys have advised, and we needed to tweak the way we represented ourselves and this project.

There are bigger and better ways to go about the BitStone project, and that's why things are much different than the original ideas.

This is our project, and things will run according to our schedule.

I appreciate your interest but, lets not make things complicated here.

Of course things are different, that's why we postponed the launch of BitStone until now...so we had the required time to revamp our ideas.

BitStoneDev