[Passed] Motion to provide seed funding for B&C Exchange - a decentralized exchange built on the Peershares platform

wo.

Holy crap. That’s almost $100,000 in 2 days.

It wouldn’t very likely have happened like this if the BKS holders hadn’t voted for tearing down the sell wall.
It has been the rational choice to hold off the purchase of BKS until a later point of time - this point of time has been preponed to 2015-08-21, 23:59 UTC :slight_smile:

Can we have an official report on the current and final BKS distribution? (after all, that is an initial public offering) a la:

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A detailed report would be nice, but you can roughly add another 25,000 BKS to the list of distributed BKS:

85,000 BKS have been distributed to NSR holders.
42,500 BKS have been distributed to seed funders (who most likely hold some NSR)
55,000 BKS (only approximately, but…) have been distributed to second-round funders
A total of 182,500 BKS has been distributed so far.

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The B&C Exchange team has completed the next requirement of motion f8bcd3d068a6b35c92902a8d57e0e773e4e35352, which states

August 23, 2015 (23:59 UTC) - Any BlockShares that have not been requested for purchase by August 21, 2015 will be burned.

Block explorer confirmation: https://bcblockexplorer.com/transactions/7f0aad5d884918153d2bf2468c11108519d4640e4de95177deb155426108e5b6
Transaction ID: 7f0aad5d884918153d2bf2468c11108519d4640e4de95177deb155426108e5b6
Block: 69368
Amount burned: 22,565.983 BKS

The only undistributed BlockShares remaining in our possession are for the following groups/purposes:

  1. People who already paid for their BKS but haven’t yet provided us with a BKS address to send them to
  2. People who asked to purchase BKS before the August 21 deadline but haven’t yet paid
  3. 100 BKS held to pay for transaction fees on the final transfers, of which any unused BKS will be burned at the conclusion of BKS distribution

If you find yourself in group 1 and are having difficulty reaching us through email or BitMessage, please send us a PM here to confirm that we have received your message.

As a reminder, motion f8bcd3d068a6b35c92902a8d57e0e773e4e35352 states that all undistributed BlockShares must be burned by 23:59 UTC August 30, 2015. To ensure that our obligations are met all final payments must be made by August 28 to ensure that records can be reviewed and the burn completed before August 31. Whatever isn’t paid for by August 28 will be burned before August 31.

Our fundraising total is now $311,161. A final BKS distribution table with exact BKS ownership numbers by group will be provided after the final August 30 burn.

Link to Bitcointalk: https://bitcointalk.org/index.php?topic=1033773.msg12222470#msg12222470

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Sorted by views, the [ANN] thread at the bitcointalk.org “Project Development” board is on place 16 of all ever announced/discussed projects.

I think place 16 is worth mentioning in a computer savvy environment :smile:
10hex would even look better.
10000bin on the other hand not.

http://imgur.com/NUayOWW

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Now 14th. https://bitcointalk.org/index.php?board=12.0;sort=views;desc

By the way, any update on B&C Exchange’s current development state and roadmap?
I have also asked about that in bitcointalk here.

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sigmike provided an update on development today:

Version 4.0 is almost ready. It took more time than expected because asset voting has important consequences on the design of the trading protocol that will be implemented in the next release. We had to adjust the design a few times. But it has been finalized and we just need a last review of the pull request before we can finalize 4.0.

This release will enable reputation and asset voting. So shareholders will be able to start deciding which assets will be initially tradable and who will be the first reputed signers.

While asset voting was finalized we also started writing detailed specs of the trading protocol that will be implemented in version 5.0.

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The innovation brought by bcex, forked from nu:
reputed signers
traded assets

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It appears there hasn’t been much of an official update since late November on Bitcointalk or Bitbucket. It would be nice to see bi-weekly updates on B&C Exchange. Since the majority of holidays should be past us, I would hope that we would see more progress.

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I’m getting back into the flow of things since holidays are over. I’ve been focusing on trying to get Nu 2.1 fixed but at the same time I’m working on B&C 4.0. Still need to finish testing the new voting features. Should have some more results soon. Most likely after this upcoming week. B&C is very different from Nu and so the testing requirements are way different from what I’m used to. It’s going to take a bit of time for me to get into the proper workflow and understand what the requirements are.

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I understand you will be testing bce v4.0.
Does it imply that bce v4.0 has been released in test net?
If so, what are its features? Do you know if it includes assets voting?
I am also wondering about on what features the dev team is working right now.
Sorry a lot of questions.
Probably @JordanLee, @sigmike and @erasmospunk have a lot to say.

Reputed signer voting and asset voting are in 4.0. The code is ready to be tested so I imagine it could be used on testnet. I run my own personal test chains that use mainnet code for all of my testing though.

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Update from JL.

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It would helpful to have an update from @JordanLee on the roadmap ahead and some sort of time estimate of the remaining milestones as many shareholders are wondering right now about the situation in a more detailled way than the latest post in bitcointalk or might get impatient.

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I agree. There has been rarely any impatience over the course of the last seven months and I am sure nobody is expecting Jordan to provide a certain month as a target. But something like a quarter or “not before X” would definitely be nice to know.

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Not before Nu 2.1

Id love to hear word too, but id imagine the devs are waiting until after Nu 2.1 is released.

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B&C 4.0 is the next release which will support Reputed signer voting and asset voting. It is currently in the the testing phase. Development has been slow the past couple of weeks for various reasons. Holidays, people traveling, etc. The new year is often a busy time of year for people and Nu experienced a similar development slowdown around the same time last year. Things are going to pick up from here on out.

While of the new feature changes are looking good so far (for the most part) there are some issues that need to be ironed out and I’m working with the dev team to address them. Some cosmetic issues like RPC results for voting behaving unexpected. As testing is still ongoing I can’t give a timeline for release. It depends on what is found in the coming days.

I’m not sure if we will do a 4.0 release or wait for 4.1 to produce an official release. It’s up the @JordanLee. There’s already a PR for 4.1 which contains the changes that went into Nu 2.1.

I’m not in a position to speak on milestones and timelines. I’ll do what I can to keep the communities updated regarding development info going forward

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The track record of the architect/development team leaves no doubt that they are capable of delivering amazing software.

But providing an update from time to time wouldn’t hurt either. It doesn’t need to be verbose, I think.
And it doesn’t need to deal with milestones that have a date associated (but maybe the milestones…).
Sunny King’s weekly updates could be something to lean on.

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