[Mandatory Upgrade] All minters need to upgrade to B&C Exchange 4.0.1

[Cybnate]

One individual controls the network … I’d be very worried!

With the current low minting rate, that is not unthinkable.

[Sabreiib]

We should develope bcmessage to inform big BKS holders.

[crypto_coiner]

With the current low minting rate, that is not unthinkable.

Jordan or whoever did the initial sell must have a pretty good idea of it.
Dhume has obviously probably (way) more than 7500BKS, for instance.

For collateral @Dhume is required to put up 100>% of the hedged amount in USD. For this @Dhume
proposes to put up 7500 BKS (valued at the open market between 6-7+ USD
a piece at the time of this proposal) which current value is estimated
to be 45.000-52.500 USD as collateral.

[zoro]

I suppose FLOT has updated its BKS wallet?

[masterOfDisaster]

The FLOT BKS collateral of NuSafe isn’t used for minting.

[Nagalim]

Locking NSR

Collateralization using NSR seems natural, and indeed it is as our ultimate buyback material. However, it is an unfortunate side effect that burnt NSR cannot be voted with. The idea here is to create a situation whereby NSR can be held under multisig and attached to a datafeed that is run by the person who owns the collateral. I don't know what is technically necessary for this to occur, but I'd like to talk about it theoretically first. Do we even want people voting on the blockchain if the…

[masterOfDisaster]

43.7% - slowly increasing

getprotocolvotes
{
“2.0” : {
“blocks” : 1126,
“block_percentage” : 56.3,
“switch_to_date_time” : “”
},
“4.0” : {
“blocks” : 874,
“block_percentage” : 43.7,
“switch_to_date_time” : “”
}
}

[masterOfDisaster]

42.1% - I’m dumbstruck by the minting BKS holders…

getprotocolvotes
{
“2.0” : {
“blocks” : 1158,
“block_percentage” : 57.9,
“switch_to_date_time” : “”
},
“4.0” : {
“blocks” : 842,
“block_percentage” : 42.1,
“switch_to_date_time” : “”
}
}

[zoro]

I guess tomorrow will be 41%

[Sentinelrv]

42.1% - I’m dumbstruck by the minting BKS holders…

Is it possible early buyers might have sold a portion of BlockShares and they’re now in the hands of traders or people who just don’t pay attention or care about B&C?

Or do you think there was just too large of a window of time where shareholders were waiting and nothing happened except development behind the scenes, leading to inattentive shareholders?

In the latter case I would think at some point within the next couple months they would check up to see how things are going and realize how late they are in upgrading. They’re just not here all the time because things had been so quiet for a while.

I don’t even want to think about the consequences of the former case. We would have to redistribute new BlockShares to people who are still paying attention and abandon the ones who are not, whether that’s even possible to do I don’t know.

Hopefully it won’t come to that and releasing the OS X version and using our contact list to alert shareholders will have a significant effect. Still waiting to hear updates on those two things.

[Yurizhai]

Yeah this is getting a little embarrassing.

Is there somehting we are missing? Like either 4.0 or 4.0.1 not counting or something?

[masterOfDisaster]

Is it possible early buyers might have sold a portion of BlockShares and they’re now in the hands of traders or people who just don’t pay attention or care about B&C?

Or do you think there was just too large of a window of time where shareholders were waiting and nothing happened except development behind the scenes, leading to inattentive shareholders?

Either way it would be bad for BCE, because this is just not the type of business that works this way.
The latter reason would be less bad, because once you were able to awake them, they migth keep paying attention.

We would have to redistribute new BlockShares to people who are still paying attention and abandon the ones who are not

I don’t know how to fix the situation, but you can’t do it this way. People paid for BKS. You can’t just dispossess them, because they don’t behave like expected.
I can only think of awkward solutions, which include at least partial dispossessions - if you want to get the 4.0 votes over 90% there’s no way around that and I don’t want to go into greater detail about them for now.
To get done what I have in mind you only need a simple majority, but it will shed a very bad light on BCE.
Let’s wait and hope for the 4.0 votes to increase.

[zoro]

is possible for minting to continue only in 4.0 and stops for older versions?

[masterOfDisaster]

Sure - once the protocol switch is complete…
…but that needs 90% and two weeks

[Sentinelrv]

I messaged @BCExchange on Bitcointalk about using the BlockShare sale contact list to inform people. I was answered before on Bitcointalk, so hopefully I can find out if this was done yet or not.

[Sabreiib]

There are only 40 minting nodes, and cannot upgrade in time, I strongly suggest to develope B&Cmessage by copying Emeth’s App.

[crypto_coiner]

Weird: Just realized that I have NOT minted a single BKS since April 6th…, as of displayed by the wallet QT.
Anyone has any clue?
Stake: 0.00 BKS
Client version: 4.0.1-beta , win7

[Sentinelrv]

Weird: Just realized that I have NOT minted a single BKS since April 6th…, as of displayed by the wallet QT.
Anyone has any clue?
Stake: 0.00 BKS
Client version: 4.0.1-beta , win7

What date did you upgrade to v4.0.1? Have you minted at all with the new client?

[crypto_coiner]

I updated on 3/30 and was minting up to 4/6 since then.

[Sentinelrv]

I just checked mine. I updated on March 31st and minted up until April 4th and then it stopped as well. I usually mint blocks many times each day, so this long stretch does seem strange. I don’t believe it’s a problem with my laptop or internet either, because the Nu client v2.0.3 has been minting just fine. I’m using Xubuntu Linux by the way.

Has anybody else not minted blocks in a while?