[ANN] [888] [SCRYPT] OctoCoin ◦ The Power of Eight ◦ Don't Blink

[frameLAlife]

I believe GW Calvert, Squidsin and maybe 1-2 more have offered to help with the burn. I need you guys to PM me your Skype names so we can create the Skype chat for the burn devs. Then coordination can begin.

Also, I'm going to start the website this weekend.

BTC address if you want to donate towards the cost of the website:

1fff2DwPLF3gYCgTL8HBNsLkmJfrhn5rd

I will use www.squarespace.com to build the website and purchase the domain all in one package. I can start building it now but before publish I'll have to pay. It should be around $100-$200 depending on whether I get the lowest bandwidth/storage or the unlimited.

http://www.squarespace.com/pricing/

Thanks in advance to anyone who donates.

[frameLAlife]

also willing to provide some lowly GPU hash for the process, but it may be more cost-effective to rent someone's ASICs.

thanks for the offer hashbrown. hey, every hash counts. if we do a 2 month burn process or even a 1 month burn process, then we will have to control the network during that time period.

whether it's GPU's or rented hash every little bit counts.

Looks like there are a lot of takers on the burn, I am excited for this

Let me know when you are ready to get something up on our site with instructions on how the burn will work. If you join the Merged Folding family you get some real estate on our site for whatever you would like

Yeah, we've had some good responses. I also have received some PM's saying they were burning. I also know my roommate and another friend are burning. So the list is growing.

Surprisingly, even with the modest amount that have posted, many of these hold quite a bit of Octocoin.

Guys, the balls in your court as far as the burn. I'll be available for whatever you need me to do, including starting the website, writing some press releases to let some Bitcoin news sites know about the burn, etc.

Let me know your skype names so we can get started on the technical aspect of it and get the ball rolling.

[godzfather]

Burning

[FoldingCoin]

also willing to provide some lowly GPU hash for the process, but it may be more cost-effective to rent someone's ASICs.

thanks for the offer hashbrown. hey, every hash counts. if we do a 2 month burn process or even a 1 month burn process, then we will have to control the network during that time period.

whether it's GPU's or rented hash every little bit counts.

Looks like there are a lot of takers on the burn, I am excited for this

Let me know when you are ready to get something up on our site with instructions on how the burn will work. If you join the Merged Folding family you get some real estate on our site for whatever you would like

Yeah, we've had some good responses. I also have received some PM's saying they were burning. I also know my roommate and another friend are burning. So the list is growing.

Surprisingly, even with the modest amount that have posted, many of these hold quite a bit of Octocoin.

Guys, the balls in your court as far as the burn. I'll be available for whatever you need me to do, including starting the website, writing some press releases to let some Bitcoin news sites know about the burn, etc.

Let me know your skype names so we can get started on the technical aspect of it and get the ball rolling.

Great

Whats the timeline on getting the explorer up?

[frameLAlife]

I believe that is dependent on GW Calvert unless someone else can do it. I have emailed him about it. His wife is in the hospital but he said he would get back to me about it asap.

[GWCalvert]

I believe that is dependent on GW Calvert unless someone else can do it. I have emailed him about it. His wife is in the hospital but he said he would get back to me about it asap.

I have sent messages to a couple of guys that have done block explorers for me in the past. I'm just waiting on their reply.

There are others out there in BTCtalk-land that set up explorers. If anyone knows of someone, you might send them a message and inquire about their fees. Or... If someone has some server or VPN space available that we could use for a couple of months; I'm sure that there is someone here among us that can get an explorer up and running.

Unfortunately, my time is very limited for what looks like to be at least the next month. I will know more after my wife's visit with her doctor tomorrow. It sucks getting old... 

[frameLAlife]

I believe that is dependent on GW Calvert unless someone else can do it. I have emailed him about it. His wife is in the hospital but he said he would get back to me about it asap.

I have sent messages to a couple of guys that have done block explorers for me in the past. I'm just waiting on their reply.

There are others out there in BTCtalk-land that set up explorers. If anyone knows of someone, you might send them a message and inquire about their fees. Or... If someone has some server or VPN space available that we could use for a couple of months; I'm sure that there is someone here among us that can get an explorer up and running.

Unfortunately, my time is very limited for what looks like to be at least the next month. I will know more after my wife's visit with her doctor tomorrow. It sucks getting old...  

No problem. We will figure it out Please spread the word guys.

[FoldingCoin]

I believe that is dependent on GW Calvert unless someone else can do it. I have emailed him about it. His wife is in the hospital but he said he would get back to me about it asap.

I have sent messages to a couple of guys that have done block explorers for me in the past. I'm just waiting on their reply.

There are others out there in BTCtalk-land that set up explorers. If anyone knows of someone, you might send them a message and inquire about their fees. Or... If someone has some server or VPN space available that we could use for a couple of months; I'm sure that there is someone here among us that can get an explorer up and running.

Unfortunately, my time is very limited for what looks like to be at least the next month. I will know more after my wife's visit with her doctor tomorrow. It sucks getting old... 

I would say we start developing the burn now to get this going. So before the explorer is setup, here are the steps that can be taken:

• Have all 888 holders put all their 888 in one address
• have 888 holders create their counterwallets http://foldingcoin.net/counterparty-guides/#wallet
• begin emailing framALife and CC me, [email protected] (do not do this through bitcointalk as records of the emails are essential)
• the email should contain the following:
  
  • counterwallet address
  • 888 address (where all the 888 is in)
  • amount in the 888 address to be burned
• then we can start building the database over the next few weeks to be ready to do the burn
• the block explorer though MUST BE UP before the burn date so a snapshot can be taken

I can even setup a google doc that is publicaly viewable for transparency

[frameLAlife]

Have we confirmed this is the address for the burn?

8burnYouroctoHere4oCToPartyXRcdDgX

"OK, it's pretty straightforward, the last few characters are required for a checksum and the first needs to be an 8 but you can have anything alphanumeric you want for the rest excluding lowercase l, upper case O and I or 0 (zero).  For instance this is a valid address, I just sent some dust there"

If so I can get started. I will send mine to the address.

Guys, you can email your info to [email protected] and copy Robert.

You can get your wallet at counterwallet.co

You saw Robert's walkthrough but if you have questions or issues you can add me  to Skype: kristharp78

Please wait until these guys respond and confirm the address above is going to be the official burn address.

[frameLAlife]

I'm syncing my Octocoin wallet for the first time in months.

[frameLAlife]

http://ltcd.lifeforce.info/

"We've determined the Octocoin wallet WILL NOT send more than 50,000 coins in one transaction and peoples manual payouts over 50,000 coins were failing, requiring us to perform manual payouts which then required us to do a lot of work on the pools accounting back end - this gave cause to seriously consider shutting down the pool. The best remedy for us and you miners was just to disable manual payouts"

this was posted on lifeforce's info page for Octocoin. i do not see a date for the post. i wonder if that is true that the wallet transactions over 50,000 coins fail? i remember sending transactions between 20-40k but i cannot remember if i ever sent a transaction over 50k.

please keep that in mind when burning your coins if this is the case. it may take multiple transactions all tied to the same return Counterwallet address.

[frameLAlife]

Well my wallet is synced. I'm ready to burn once address is confirmed. May have to send multiple transactions if the 50k post is true.

[frameLAlife]

Ok, so be sure not to send any coins to the unconfirmed burn address.

We are still figuring this out and really need the block explorer up. You can start to email in your Counterwallet and Octocoin addresses as stated a few posts earlier.

Thanks.

[GWCalvert]

http://ltcd.lifeforce.info/

"We've determined the Octocoin wallet WILL NOT send more than 50,000 coins in one transaction and peoples manual payouts over 50,000 coins were failing, requiring us to perform manual payouts which then required us to do a lot of work on the pools accounting back end - this gave cause to seriously consider shutting down the pool. The best remedy for us and you miners was just to disable manual payouts"

this was posted on lifeforce's info page for Octocoin. i do not see a date for the post. i wonder if that is true that the wallet transactions over 50,000 coins fail? i remember sending transactions between 20-40k but i cannot remember if i ever sent a transaction over 50k.

please keep that in mind when burning your coins if this is the case. it may take multiple transactions all tied to the same return Counterwallet address.

I know that I have transferred more than 100K at once from Bittrex in the past, but it may have been with an earlier wallet.

I do not recall anything in the code that would limit large transactions, but there could be an issue with the number of inputs that make up the total quantity being sent. If you have a lot of small transactions coming into your wallet (from mining and faucets) and then try to send them all at once, it could possibly cause an issue.

All coins have a max transaction block size, not in number of coins, but in bytes. The more inputs that have to be put together to make a transaction; the larger the transaction block size in bytes. If the transaction size creates a block that is larger than the max size, it will be rejected.

I know that is why most exchanges do not want you to mine directly to your wallet address on the exchange, as it can limit the number of coins that they can include in a withdrawal transaction because of the transaction block size limit on most coins.

I would think that if all of the coins were sent to the burn address from the same Octo address, it would be fairly easy (although time consuming) to get an accurate total.

I'll scan through the code again and see if I see anything...

[frameLAlife]

http://ltcd.lifeforce.info/

"We've determined the Octocoin wallet WILL NOT send more than 50,000 coins in one transaction and peoples manual payouts over 50,000 coins were failing, requiring us to perform manual payouts which then required us to do a lot of work on the pools accounting back end - this gave cause to seriously consider shutting down the pool. The best remedy for us and you miners was just to disable manual payouts"

this was posted on lifeforce's info page for Octocoin. i do not see a date for the post. i wonder if that is true that the wallet transactions over 50,000 coins fail? i remember sending transactions between 20-40k but i cannot remember if i ever sent a transaction over 50k.

please keep that in mind when burning your coins if this is the case. it may take multiple transactions all tied to the same return Counterwallet address.

I know that I have transferred more than 100K at once from Bittrex in the past, but it may have been with an earlier wallet.

I do not recall anything in the code that would limit large transactions, but there could be an issue with the number of inputs that make up the total quantity being sent. If you have a lot of small transactions coming into your wallet (from mining and faucets) and then try to send them all at once, it could possibly cause an issue.

All coins have a max transaction block size, not in number of coins, but in bytes. The more inputs that have to be put together to make a transaction; the larger the transaction block size in bytes. If the transaction size creates a block that is larger than the max size, it will be rejected.

I know that is why most exchanges do not want you to mine directly to your wallet address on the exchange, as it can limit the number of coins that they can include in a withdrawal transaction because of the transaction block size limit on most coins.

I would think that if all of the coins were sent to the burn address from the same Octo address, it would be fairly easy (although time consuming) to get an accurate total.

I'll scan through the code again and see if I see anything...

thanks for clarifying.

[syncsam]

BURNING

Sorry haven't had time to read all the messages yet, so will catch up on the info soon

[FoldingCoin]

http://ltcd.lifeforce.info/

"We've determined the Octocoin wallet WILL NOT send more than 50,000 coins in one transaction and peoples manual payouts over 50,000 coins were failing, requiring us to perform manual payouts which then required us to do a lot of work on the pools accounting back end - this gave cause to seriously consider shutting down the pool. The best remedy for us and you miners was just to disable manual payouts"

this was posted on lifeforce's info page for Octocoin. i do not see a date for the post. i wonder if that is true that the wallet transactions over 50,000 coins fail? i remember sending transactions between 20-40k but i cannot remember if i ever sent a transaction over 50k.

please keep that in mind when burning your coins if this is the case. it may take multiple transactions all tied to the same return Counterwallet address.

I know that I have transferred more than 100K at once from Bittrex in the past, but it may have been with an earlier wallet.

I do not recall anything in the code that would limit large transactions, but there could be an issue with the number of inputs that make up the total quantity being sent. If you have a lot of small transactions coming into your wallet (from mining and faucets) and then try to send them all at once, it could possibly cause an issue.

All coins have a max transaction block size, not in number of coins, but in bytes. The more inputs that have to be put together to make a transaction; the larger the transaction block size in bytes. If the transaction size creates a block that is larger than the max size, it will be rejected.

I know that is why most exchanges do not want you to mine directly to your wallet address on the exchange, as it can limit the number of coins that they can include in a withdrawal transaction because of the transaction block size limit on most coins.

I would think that if all of the coins were sent to the burn address from the same Octo address, it would be fairly easy (although time consuming) to get an accurate total.

I'll scan through the code again and see if I see anything...

thanks for clarifying.

So if i understand this correctly, the issue is that the exchange could not transfer more than 50k or is it the actual QT client?

[kondiomir]

Its kind of messy to me

Pls guys, somebody explain step by step what to do to burn Octos ?

[FoldingCoin]

888 moving to Counterparty - OCTO

The Octocoin burn will begin soon. Burn your 888 in exchange for the OCTO Counterparty Asset. We will create 88.8 Million OCTO total but will only distribute the burned 888/OCTO at first. The burn ratio will be 1:1. The burn process will last for 1 month only and a snapshot of the blockchain will be taken. When the midnight deadline is announced you can no longer burn your 888 and the only way to acquire OCTO will be to purchase, trade or participate in FoldingCoin’s merged mining and other promotions. We will announce future distribution plans at a later date on the new OCTO asktom.cf and letstalkbitcoin.com forums. If you have any questions about the burn, please PM frameLAlife or FoldingCoin on asktom.cf.

Be aware that OCTO will be a community asset and is not associated with Octocoin 888 or it’s original developers. We as a community are choosing to leave the original, abandoned blockchain behind to participate in the Counterparty protocol on the Bitcoin blockchain. While we do have leadership in place that is planning the first project for the new asset, you the community will be free to use any available open-source code to build and promote your own projects in the community. However, please understand that certain projects, applications and activities will not be allowed to be promoted on official OCTO forums for legal reasons.

Please refer to the following instructions and follow this process to burn your 888 to the new OCTO Counterparty Asset. PLEASE NOTE: Do not send any 888 to the burn address until we have posted the link to the block explorer when it goes live. The following instructions will be posted to the most recent page until the burn period begins.

• Step 1 - 888 Holders please create a Counterwallet with these steps http://foldingcoin.net/counterparty-guides/#wallet
  
  
• Step 2 - Send all your current 888 to a single 888 wallet that you control. If you are going to continue mining, please make sure to mine directly to that address (or if you are using a mining pool, please start to withdrawal to that address)
  
  
• Step 3 - Fill out this google form https://docs.google.com/forms/d/16a6AvxrfOQ_gzMrM3tH2iRlBvPX-OSge4QG_2rLDkYQ/viewform?usp=send_form with the following information:
  
  
  • BTC address from your Counterwallet found in Step 1
    
    
  • Your 888 address with all your 888 from Step 2
    
    
  • The estimated total amount of 888 in your wallet from Step 2 that you will be burning in exchange for the new OCTO asset on Counterwallet (the estimated amount is for trying to get an understanding of how much 888 is going to be burned)
    
    
• Step 4 - DO NOT SEND any 888 to the burn address at this time, but rather you can confirm on this document that your information is correct https://docs.google.com/spreadsheets/d/13nfukjfGvfwwI6Y2dUY13eVZLF6NmslkvXtx7GczO-g/pubhtml
  
  
  • If you do not see your address here or if the information is wrong (such as your 888 address is not the one you wish to associate  with your Counterwallet address) please contact [email protected] AND [email protected] to resolve this issue and get your accurate address information added.
    
    
• Step 5 - Once the block explorer and the burn address has been verified and working by this community, then a deadline will be announced to send the 888 from your wallet in Step 2 to the burn address to receive the new Counterparty OCTO asset. The deadline will be 1 month after the explorer and the burn address have been announced.
  
  
  • DO NOT SEND ANY 888 UNTIL THE BLOCK EXPLORER, THE BURN ADDRESS, AND THE DEADLINE HAS BEEN ESTABLISHED. AWAIT FOR FRAMELALIFE TO CONFIRM THAT THESE FACTORS ARE OFFICIAL AND ESTABLISHED, DO NOT TAKE THE WORD OF ANY OTHER USERNAME AT THIS TIME
    
    
• Step 6 - Once Midnight on the deadline is hit, the 888 block explorer will be captured fully with the accurate information regarding the 888 wallet locations at the exact deadline time (this will then be available to the public to view). You must have sent your 888 to the burn address BEFORE the deadline has been hit. So any amount of 888 created after the burn will not be considered a valid exchange since it will be officially moved over.
  
  
• Step 7 - After the block explorer has been fully captured, then 2 days will pass to allow time for any discrepancies to be established from the Octo community with the amount of OCTO they will receive. During these two days, frameLAlife and FoldingCoin (Kris and Robert) will be uploading a new column to the publically viewable google doc with the exact amount of OCTO each person will receive who sent 888 to the burn address.
  
  
• Step 8 - After the 2 days have passed, then FoldingCoin will create a distribution address and send all the OCTO out to all participants who are partaking in the burn. this community needs to keep in mind, that for every 1 address receiving OCTO it will require 0.00006 BTC (this is not a service fee, but it is the cost of a Counterparty transaction). So If 1,000 people are participating in the burn, then 0.06 BTC will need to be provided to distribute the new OCTO funds.
  
  
• Step 9 - OCTO will become part of the Merged Folding family and you will continue to be able to earn additional OCTO by setting up your computer to partake in folding following this step http://foldingcoin.net/windows-guides/#setup
  
  
  • The distribution on Merged Folding will need to have the OCTO community decide the following factors:
    
    
  • Total amount of OCTO to be distributed on Merged Folding
    
    
  • Amount per day to be distributed on Merged Folding
    
    
  • If there will be a half life
    
    
  • How often to do the distribution (daily, weekly, monthly)
    
    
• Step 10 - Robert Ross will provide complete training to frameLAlife on how counterparty works, securing undistributed OCTO, Merged Folding, and anything else needed
  
  
• Step 11 - Begin to rebuild the features and direction of OCTO
  
  

New ANN forum for OCTO on Counterparty can be found here https://asktom.cf/index.php?topic=960933

[kondiomir]

LOL Did not  expected this kindly answer.

Thank you vary much for the superb explanation!!!