Stratis is getting some attention, so it's a good time to try and pressure the blitz::stratis dev team into doing the right thing. Embarrassing people with the truth can sometimes get results, there's no FUD here, blitz has been abandoned, if not point me to some updates in the last six months ... you can't, coz there hasn't been any, if there was someone would have posted it, wouldn't they!
Shame and embarrassment from casting light on the truth isn't fud, but it's what happens when you ignore people, and betray their trust. What other way to proceed do you suggest, beg? Stratis investors can still make a good return from unethical devs, but maybe some will feel uncomfortable, through nothing more than rational self interest at how they may be treated themselves in the future.
What specific promise was made to you? Please don't be vague. Thank you
Chris aka killakem was the lead dev of Blitz, and if you owned 30k blitz you were entitled to designation as an executive with access to a restricted slack channel. In the first half of 2016 he was active in blitz slack, the roadmap include the TVE fitalise, and earlier the Block Delivery Network. I bought 30k blitz with the promise that that would allow me to run a BDN node and earn revenues from providing the BDN service. You can see what was planned in the original blitz thread which is locked now.
In june2016 chris/killakem made posts in the executive lounge of the blitz slack outlining a proposal. Unfortunately those messages are gone now with the 10k slack limit for messages. He posted a document in the executive lounge that had two options, and he asked for opinions from the +30k blitz holders.
The proposition was this, from memory - chris was committed to blitz as his crypto project, but he was only able to work part time. He proposed starting a new coin with a higher coin cap, letting existing blitz holders swap over to the new coin, with the excess coins being sold in an ico to fund chris so he could work full time on blitz. So what was presented was the same project, blitz, but with two options
1 -no coin cap increase, no dilution, chris works part time, same blitz roadmap, basically no change
2- new coin with increased coins, blitz swap 1:1, excess coins sold, chris working full time, BUT same blitz roadmap
I argued for option 2-, but most just saw dilution and voted for 1-
My complaint is this, what chris presented in the blitz executive lounge mentioned nothing about starting a new project stratis, the choice was between part-time chris with no dilution of blitz, or full-time chris with dilution of blitz so coins could be sold in an ico to fund chris. My accusation is Chris did not make it clear that there was a third option, which is what happened - Chris would have an ico anyway for stratis, stopall work on blitz original roadmap, and blitz bag holders would get nothing.
He asked for a 'vote', but didn't stick by the outcome. If the blitz executives knew of option 3, they obviously would have voted for the dilution of blitz, as that would have included the swap. I believe Chris presented his two options knowing people would vote with self interest for no dilution, so he could have the stratis ico without a fair swap for blitz holders. I think he played everyone, and he knew he was going to start stratis, and he wanted a way to avoid doing what jl777 has had to do with btcd swap for komodo.
I was provably a supporter of Chris and blitz, as I bought 30k blitz and followed the blitz slack daily. I assure you since the stratis ico all activity related to blitz is 100% off the radar. I can find no updates of what is going on, but stratis is obviously Chris' new project, but in june 2016 he was saying blitz was still his main focus, part-time or full-time. I believe he lied, and everything he's done since backs that up.
I have a copy of killakem's proposal document, for the sake of clarity I'll post it here.
The choice for blitz executives was much clearer than you remember @Cryptosporidium, the ICO option which became stratis was outlined in some detail, so arguing that killakem tried to mislead the community about his plans for Stratis is complete BS. It was however restricted to just a handful of blitz whales knowing about it, and in retrospect that was a mistake. Every blitz investor should have known what was being planned, and had a chance to vote, but killakem did not conceal his intentions or trick any of the blitz whales.
We will soon be announcing our next project. A Blockchain-as-a-service cloud platform, that will provide simple one click provisioning of btc, eth, nxt, bts etc blockchain nodes like the other baas providers. The new platform will offer private chains for developers and businesses to develop and test applications on their own private blockchain with customized specifications. These private chains will be pegged to the platforms parent blockchain and will utilized merged POS mining with elected nodes mining blocks for the private chains. This will remove the requirement for mining, seed nodes etc, while allowing customers of the platform to scale up or scale out. The aim is to significantly reduce the time required for developers and businesses to develop, test and deploy Blockchain solutions.
This BAAS Solution will have its own Blockchain, the private blockchains will be side chains off the parent blockchain with a 2 way peg in place.
To raise funds for the development and marketing, and to allow killakem to work full time on the project, we will have an IPO. This presents us with 2 options for Blitz holders:
Option A:
The new blockchain would have 24 million coins. The existing 4 million Blitzcoin would be exchanged for the IPO token. Then the other 20 million coins would be sold during the IPO. All of the funds raised would go into the development of this new parent blockchain, platform development and marketing. This platform will require elected nodes to secure the side chains, Blitz execs will have the first choice for operating one of these nodes, if option a is selected.
Please note these are example figures and this new blockchain is likely to have a higher coin supply.
Option B:
We keep Blitzcoin as is. We make the new blockchain its own Bitalize project that pays a % to Blitz Rewards. This would mean the BAAS platform is isolated from Blitz. The new platform and blockchain will be developed in an open source manner. so some of the development could flow back into the Blitz Blockchain.
