Hey everyone, now that we're officially part of the NXT ecosystem I think it's good to consolidate our presence over on the NXT forum. We'll obviously still need to keep this thread going (but I have closed the other ORA threads now to keep everyone focused on this one), but I'm going to try and get more discussion going within the NXT community now also. With that in mind I've made an update post on nxtforum.org.
Feel free to post here, or on nxtforum.org with any ideas, criticism, suggestions etc
I think in the case of ORA some of the value will come from the 'burnt' alt coins, and some will come from the combined expectations that ORA will continue to exist into the future, so the actual amount we have to 'lock' into the ORA MS *could* be quite small, maybe even a peppercoin amount like 1 NXT.
I'm interested to hear opinions on this fundamental aspect of MS currencies also. I think 'trust' in the fundamentals underpinning the ORA community and ecosystem will be critical, but will that 'trust' be enough to act as a substitute for 'value' created through 'locking' away real NXT when the ORA MS currency is made? I'm still undecided, but I believe people's expectations will play a big part, so generating a viable 'community' based on trust and cohesion building processes will be critical for success no matter what.
Speaking of 'trust', I do want to thank Darkhorse for ALL the great work he has done as ORA's main community treasurer, and generally for his support and enthusiasm for this project. I definitely could NOT have gotten this far with the ORA 'experiment' without his help, and his character and reputation in the NXT community DOES add real 'value' to ORA! I don't control any community funds myself, and that separation has been very important to ORA 'appearing' more credible in the eyes of the average crypto person jaded after so many scams. Thank you Darkhorse
Well, as (hopefully) many NXT'ers know already, project ORA has finally finished our extended period of existential naval gazing, and we have come up with a (partial) answer to the big question; "what is ORA, why does it exist, what is its purpose?"
ORA is an MS currency, and we will continue our ethically and (hopefully) well thought out distribution by inviting holders of various dead & dying alt coins to 'burn' coins in exchange for ORA MS currency tokens. ORA is a value 'lifeboat' for alt coin holders who've been burnt by some of the crazy happenings in the alt coin scene over 2014.
ORA will be a medium term consolidation of the alt coin 'Zoo' that has developed over the last year or so!
ORA is a stepping stone on the evolutionary path of blockchain technology - a link between alt coins & the NXT MS!
ORA is an alt coin 'noah's ark', and while we probably can't save EVERY alt coin bag holder from value extinction, we can save some, or at least compensate for some of their losses, and hopefully demonstrate that there is a better, more sustainable way forward. These people will then have a stake in NXT via the ORA MS currency, and that helps consolidate NXT's position as the pre-eminent 2.0 platform, and the only crypto with potential that's still based on the original idea of decentralisation.
I'm very grateful to Bitmark dev, coinsolidation, who suggested this path, and I for one am super pumped about this new direction for ORA. As many here might be aware, project ORA started back in May with a general goal to start a new PoS coin in a way that 'learnt' from both the successes and mistakes of past coins. By design the goal was to try and concentrate on non-tech aspects first (like community building, distribution, and funding) with the idea that as the community came together, it would attract people with ideas and talents, and from that pool of human resources something useful could be 'created', but in a wholly decentralised fashion, and without a traditonal leader and heirarchy. ORA is a "starfish"! Coinsolidation's alt coin burn proposal is a great example of the Starfish processes in action!
We've made some mistakes on this journey (mostly by me!), and suffered a few setbacks along the way too, (especially our original developer going MIA and the extended 'limbo' period that that caused), but six months into the ORA journey, I think the strength of the 'plan' we have ended up with shows that the ORA starfish is 'working', and ORA can make a positive contribution to the crypto movement.
We do need help though, especially in designing and executing the alt coin 'burn' process, and in designing the optimum version of MS settings for our purposes. Then we'll move onto app development, and marketing, real world uses etc etc so there's plenty of 'space' in the ORA project for those looking to get involved in a NXT related crypto project with potential.
ORA is always open to suggestions, and everyone is FREE to participate. You don't have to join 'team ORA' (which at this stage is really just four guys & some friendly interested observers), and contributing an idea, or a useful perspective, or some constructive criticism can be REALLY helpful - and so are seriously wicked dev skills if you have them!!
There's no such thing as a 'bad' comment IMO, as long as its sincere, so feel free to let us know what you think of ORA's new direction
https://nxtforum.org/alternate-cryptocurrencies/korasibling-of-qorafree-fair-distributionregistration-countdown!!/msg142061/#msg142061
Feel free to post here, or on nxtforum.org with any ideas, criticism, suggestions etc
Quote
Random questions,
1.) How does the locked nxt will affect a MS currency? What would be an ideal amount?
2.) What if i lock a MS currency with 1 nxt? What will happen?
1.) How does the locked nxt will affect a MS currency? What would be an ideal amount?
2.) What if i lock a MS currency with 1 nxt? What will happen?
I think in the case of ORA some of the value will come from the 'burnt' alt coins, and some will come from the combined expectations that ORA will continue to exist into the future, so the actual amount we have to 'lock' into the ORA MS *could* be quite small, maybe even a peppercoin amount like 1 NXT.
I'm interested to hear opinions on this fundamental aspect of MS currencies also. I think 'trust' in the fundamentals underpinning the ORA community and ecosystem will be critical, but will that 'trust' be enough to act as a substitute for 'value' created through 'locking' away real NXT when the ORA MS currency is made? I'm still undecided, but I believe people's expectations will play a big part, so generating a viable 'community' based on trust and cohesion building processes will be critical for success no matter what.
Speaking of 'trust', I do want to thank Darkhorse for ALL the great work he has done as ORA's main community treasurer, and generally for his support and enthusiasm for this project. I definitely could NOT have gotten this far with the ORA 'experiment' without his help, and his character and reputation in the NXT community DOES add real 'value' to ORA! I don't control any community funds myself, and that separation has been very important to ORA 'appearing' more credible in the eyes of the average crypto person jaded after so many scams. Thank you Darkhorse
Well, as (hopefully) many NXT'ers know already, project ORA has finally finished our extended period of existential naval gazing, and we have come up with a (partial) answer to the big question; "what is ORA, why does it exist, what is its purpose?"
ORA is an MS currency, and we will continue our ethically and (hopefully) well thought out distribution by inviting holders of various dead & dying alt coins to 'burn' coins in exchange for ORA MS currency tokens. ORA is a value 'lifeboat' for alt coin holders who've been burnt by some of the crazy happenings in the alt coin scene over 2014.
ORA will be a medium term consolidation of the alt coin 'Zoo' that has developed over the last year or so!
ORA is a stepping stone on the evolutionary path of blockchain technology - a link between alt coins & the NXT MS!
ORA is an alt coin 'noah's ark', and while we probably can't save EVERY alt coin bag holder from value extinction, we can save some, or at least compensate for some of their losses, and hopefully demonstrate that there is a better, more sustainable way forward. These people will then have a stake in NXT via the ORA MS currency, and that helps consolidate NXT's position as the pre-eminent 2.0 platform, and the only crypto with potential that's still based on the original idea of decentralisation.
I'm very grateful to Bitmark dev, coinsolidation, who suggested this path, and I for one am super pumped about this new direction for ORA. As many here might be aware, project ORA started back in May with a general goal to start a new PoS coin in a way that 'learnt' from both the successes and mistakes of past coins. By design the goal was to try and concentrate on non-tech aspects first (like community building, distribution, and funding) with the idea that as the community came together, it would attract people with ideas and talents, and from that pool of human resources something useful could be 'created', but in a wholly decentralised fashion, and without a traditonal leader and heirarchy. ORA is a "starfish"! Coinsolidation's alt coin burn proposal is a great example of the Starfish processes in action!
We've made some mistakes on this journey (mostly by me!), and suffered a few setbacks along the way too, (especially our original developer going MIA and the extended 'limbo' period that that caused), but six months into the ORA journey, I think the strength of the 'plan' we have ended up with shows that the ORA starfish is 'working', and ORA can make a positive contribution to the crypto movement.
We do need help though, especially in designing and executing the alt coin 'burn' process, and in designing the optimum version of MS settings for our purposes. Then we'll move onto app development, and marketing, real world uses etc etc so there's plenty of 'space' in the ORA project for those looking to get involved in a NXT related crypto project with potential.
ORA is always open to suggestions, and everyone is FREE to participate. You don't have to join 'team ORA' (which at this stage is really just four guys & some friendly interested observers), and contributing an idea, or a useful perspective, or some constructive criticism can be REALLY helpful - and so are seriously wicked dev skills if you have them!!
There's no such thing as a 'bad' comment IMO, as long as its sincere, so feel free to let us know what you think of ORA's new direction
https://nxtforum.org/alternate-cryptocurrencies/korasibling-of-qorafree-fair-distributionregistration-countdown!!/msg142061/#msg142061