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June 02, 2016, 11:26:18 AM |
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Hello Bitmark community!
We are a team of developers that would like to make a proposal to the community.
We want to implement a social system into one of cryptos top exchanges, beginning next month. By using existing networks and our development skills, we can build the worlds most successful social economy based on the REP system.
Rather than creating another coin or hosting an ICO, this will be our preferred option to work with the existing tools at hand.
Take some time to read the below and consider the proposal.
Roadmap? No. Its a business plan.
Rebranding BITMARK- (REP) + Social engagement.
Polos adoption of Bitmark has been a successful adventure and has paved the way for a whole new trading experience.
Our talented team has a movement in place ready to rebrand Bitmarks into something amazing! We will keep the lid on for now and put forward the basis.
We have a list of new features to implement. Validation, REP, trading stats, Verified twitter profiles, fine enforcement and the chat jukebox!
There is an emerging community of traders that share great ideas, trading experience, T/A and hot picks. It is an emerging scene with clusters spread across many different platforms.
The focus is to bring these people together in an environment were they can thrive! A common platform buzzing with activity attracts like-minded individuals to trade and interact on the exchange. Somewhere we can do this all in the one platform without leaving the site.
To start a trend, we need to be broadcasting. Enabling trader stats is the next level for REP and these can be shared with the trader community.
My vision is to introduce 3 vital stats as an opt in feature. Next to your user name you can have the option to display P/L for the month (%), total trade volume (USD) and Twitter verified ticks. Without clogging the box feed, this can be attached to the left of users.
We can attract top traders from other exchanges and build our liquidity pool.
Polo has won us over with a cutting edge trade engine, fantastic features, integrity, trust and social experience -We want to expand on the social aspect.
Validation:
People want to be heard! Validation brings twitter profiles to life. Twitter is the most popular social platform for crypto traders and a large % of them are active Poloniex traders.
To bring verified twitter profiles to traders chat names allows users to take a public persona and broadcast trade activity with others.
This is the basic proposal to the Bitmark community. If you would like to see the coin take this course of action please show your support by using the #Earnit/ #REP hash tag when marking users in the troll box and by sharing this ann!
If we cannot develop our strategy with the existing framework, we will commence from scratch. Keep an eye on us!
REP represents the social system of Poloniex. The value within the network reflects, to a degree, Polos social system. If we can successfully implement these features, we can build a multi million dollar coin from what we have at hand.
We know how to move a crowd and if we can successfully kick-start a social movement within the ecosystem, the exchange that holds these features will amass users rapidly and bring value to the REP system. One exchange may just be the beginning. What do you think?
How do we create demand for the REP?
They will be used for traditional marking, validating social accounts, jukebox requests, emoji use, enabling P/L stats and as a fine enforcement system.
Every user that wishes to participate in the trollbox will need to have a designated minimum account balance of REP.
Every banhammer will result in a deduction of (xREP)x(Time period). The deduction will result in (xREP) being burnt into a non spendable address.. This is our deflationary model and reduces spam in the chat whilst encouraging good behaviour and constructive conversation.
Optional: High traffic periods (when the chat moves too fast) will incur a (xREP) fee to reduce spam. This can be calculated and measured by the (Chatter)/3sec intervals. As the chat reaches capacity the cost will reach maximum.
Scalability: As REP increases in value it will be Poloniexs responsibility to ensure the system is affordable for all members.
As the social system grows, that will provide demand to the asset through our deflationary model and the expanding network effect.
Trollbox Upgrades:
Everyone loves to interact on different levels. Some like to troll, some like to discuss trading and others need some advice. We dont suggest a messaging system for fear of collusion and unable to monitor discussion.
The classic trollbox is a great place for fun but we also need to bring 2 new channels to the arena! A no troll zone dedicated to technical analysis and serious trading #TA and the much needed #New channel to help introduce new users to the exciting world of crypto trading.
We want to introduce a trollbox #jukebox where users can pay in REP to have their songs in line for playing to the chat! A simple drop down box of your basic emojis charged at xREP per use.
Basic new features:
Lets put these just above the main chat box!
Stats: REPs marked in 24hr period= xxxxx.xxx
REP burnt in 24hrs= xxxx.xx
New members this month= xxxxx
What we are doing is creating a social economy around the REP system and taking it to the full potential.
There will be the first exchange to successfully implement a social system and can expect international press coverage over time. To enable us to capture new registrations, we will design a step by step tutorial sign up for new members to the crypto scene.
Our team is taking a step into the social scene and will be shaking things up! There is much more to come and we are excited to announce the basic plan today.
Poloniex has our proposal in greater depth and it includes some very exciting changes! We will keep you all updated and look forward to trading!
Please provide your feedback and let us know your thoughts!
REMEMBER: If you are all for the changes, every time you mark a user in POLO trollbox, include the hastag #EarnIT or #REP at the end of your pinkness eg: mark username reason #EarnIt/#REP
Dont forget to let them know about the REP proposal!
ThisUser has awarded thistroll 50 marks (great idea! #Earnit #REP)
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