Quote from: bobby6killers on October 06, 2014, 02:32:12 PM

Quote from: killakem on October 06, 2014, 02:09:47 PM

Quote from: Triffin on October 06, 2014, 01:43:10 PM

Quote from: mxxxxxx on October 06, 2014, 12:43:08 PM

We need block Cypher for us to move the Fibre blockchain into the cloud.
We will then be able to roll out HTML5 wallets, Facebook wallet, Facebook game with Fibre incentive, Android wallet, IOS Wallet, Fiat to Fibre, merchant portal etc etc. Moving the Fibre Blockchain into the cloud will allow us to create innovations never seen before and make Fibre accesable to anyone anhywhere.
Block cypher is going to cost $10k Upfront and then $200 a month. Please see the donation addresses below.

Ahh ..The ongoing funding requirements conundrum ..
Every successful coin eventually runs into this issue ..
From my experience the 'donation/begging' route is NOT the way to do this ..

This coin has a tiny issuance and the devs have more than proven themselves
with the incredible amount of work done to date ..

Why not have a small ( say 10% or 65000 coins ) secondary offering to fund development ??
The easiest and fairest way to do this would be thru an exchange run offering ( SCO ) ..
Use Bittrex for the SCO ( secondary coin offering ) offering the coins at a 5-10% discount to
the price just prior to making the offering ..

This would allow current FIBRE holders ( presumable those interested in the long term
viability of the project ) to maintain their ownership position in the coin and also allow new
investors a chance to buy in at a small discount to market price ..

Wall St does this all the time ..
Clearly it takes people, time, and money to accomplish the stated goals of this project ..
I'm sure the community would support this fund raiser approach ..

Triff ..

Hi Triff,

Thank you for you well thought out post. Unfortunately this would require a hardfork.

As you say this is an issue faced by many legitimate Crypto currency's. This plays a part in all of the ICO scams taking place.

Our original road map that we delivered in 7 weeks was a trust building exercise for our next move.

As you mentioned Fibre has a very small coin supply (650k),

So we will be launching Fibre's sister currency FibreLite that will have a much higher coin supply, around 90million. FibreLite will have an ICO hosted by Bittrex.

The Source Code and features of both coins will be shared.

FibreLite will benefit from our mature source code with all the features ready at launch, Fibre will benefit from the development of FibreLite as the Source Codes will be shared. We are bringing in additional developers and team members to spread the load. Eventually we will have 2 separate development teams for each. BUT all features will be shared.

The only thing that will not be shared is the marketing and promotion budgets. However, FibreLite will bring lots of exposure to Fibre.

I have struck a deal with Block Cypher than will reduce the fee of 10,000USD per coin to 13,000USD for both. So Block Cypher will be much easier to fund for Fibre, Bobby6killers has just donated 1btc to the Fibre Block Cypher fund.

Nothing is set in stone and we are still working out the details. But I can tell you that FibreLite will change the game for the Fibre Group and will give everyone a second chance to join the Fibre movement.

Regards
Killa

Thanks Killa for mentioning it! Indeed i have donated 1 BTC to the find today as i believe in this project, and just think of the possibilities of Block Cypher!

https://blockchain.info/tx/f0728fe6f7e58db28d7c93ffa1b1fa84c4c0e7c0a6008684fa5b379ec793183a

Also as a technical follow up to this. At the start we premined 2% for the development and giveaways which were very well received by the community. This can be verified in the source code. As things stand right now, we nor anyone else has 10% that could be put up for an SCO. For this to be achieved as killa says would require a hard fork, so that the 10% of coins could be programmed into the code for a future block. Even then we would need to control that blockchain until just after that 10% block has passed, to ensure that we received those coins to be put into the SCO. not only would it require a hard for, it would also require absolutely everyone to resync against the new block chain that we would then be in control off.

Well spotted !

With Fibre total coins releasing FibreLite is the best solution here and new great investment opportunity !

We don`t want definitely to mess with Fibre code creating hardforks etc

And FibreLite will be based on one of the best source codes

FibreLite coin supply will help too with mass adoption , it will be used well with Facebook games

It will bring more exposure too for Fibre

so it is win-win situation especially with Fibre Team

Another thing is people want to get something at once after they are putting money in it Wink

that`s why it is so hard to get donations