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2016/07/19    ブロックチェーンに関するコンサルティングサービスを始めました / We have started a blockchain related consulting service

(English follows Japanese)

今年6月(2016年)にしばらくブロックチェーン技術に関するコンサルティングのご提供に集中していくことを決めました。
顧客は主に日本にいる企業様とさせていただきます。

上記のコンサルティングサービスは下記を含みます:

- ブロックチェーン技術における細かい仕組みについての技術的コンサルティング
- ブロックチェーン技術を使ったソフトエウア開発に関するプロジェクト管理
- ブロックチェーン開発(例:ゼロからリリースまでのビットコイン交換所作成)
- ブロックチェーンを使った分散型自律的組織に基づく新型の経営コンサルティング(例:ブロックチェーンを使った、分散型のクラウドファウンディングプラットフォームの作成および管理)
- ピアツーピア金融(例:固定価格暗号通貨の作成)

今後ともどうぞよろしくお願いいたします。

********************
From June of this year (2016), we have decided to focus most of our efforts on providing consulting services related to the blockchain technology (including bitcoin) for clients based out of Japan, primarily.

Consulting services include the following:

- technical consulting related to the technical intricacies of the blockchain
- project management related to blockchain related software development
- blockchain development (ex: we can develop a bitcoin exchange from scratch)
- new business related consulting on how to create a decentralized autonomous organization (ex: we can advise you on how to create and manage a decentralized crowdfunding platform)
- peer to peer finance (ex: we can advise you on how to create a stable crypto-currency)

Please do not hesitate to get in touch with us

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2016/03/28    About our new service: Tokyo-based startups support

It seems that there is more and more money pouring into venture capital.
At the same time, it seems that there are and more startups trying to raise funding.
This post confirms my impression.
BunkerSofa, LLC is a company based out of Tokyo.
My personal impression is related to the venture capital and startup scene, here in Tokyo.
Very recently, BunkerSofa, LLC has modified drastically its activities to focus on supporting startups based out of Tokyo.
Supporting meaning raising fund and recruiting mainly.
It is indicated in the profile page.

◆ BunkerSofa advises and helps startups with a disruptive service/product/technology get funding in Japan, develop customers, increase sales, hire new team members, find partners and connect with the relevant people etc…

The business model here would be to get either a monthly consulting fee or a compensation in terms of stocks or a combination of both, from the startup.
Or perhaps another model is viable.
We are receiving more and more inquiries about startups trying to raise funding and find early stage members, in Tokyo.
I hope I will be able, soon, to share information about our first deals!

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2015/02/19    About the burning of NuBits to control its supply in NuNet.

Recently, Jordan Lee proposed the following motion draft.

In there, he proposes the idea of burning NuBits to control its supply on the one hand, and the idea of burning NuShares to control its supply on the other.

After thinking about it again, i think the control of supply of nubits via burning of nbt and nsr is brilliant for several reasons.

- simplicity: when nbt is oversupplied, shareholders decide a nsr custodian that will get some nsrs to sell in the open market. With the proceeds, the custodian buys back nbts in the open market and burn them. When nbt is undersupplied, shareholders decide a nbt custodian  that will get some nbts to sel in the open market. With the proceeds, the custodian buys back nsrs in the open market and burn them.

- decentralization: that way, the proceeds of nsr/nbt sales are never at a single point of failure caused by the fact that they would be held by a handful of people; instead they are immediately burnt by custodians and any shareholder can become a custodian.

- double increase factor: not only the increase in value of nbts/nsrs is contributed to by the buy back process, it is also amplified by the very act of burning them.

You can see that such process is enabled by the burning mechanism, which is very straightforward in cryptography.
It is as if Humanity had to wait up until  a point where blockchain and all the cryptographic enforcing mechanisms become possible before becoming able to burn “things” in a trustless manner that everyone can verify.

I was wondering why national central banks do not use any  burning mechanism…
Instead they use interest rates.
It is because not only they do not want to give away shares of the central bank itself (the shareholders are actually hidden; it is taboo) but also because there is no way to verify the actual burning as stated above. You would want to burn by actually asking someone to actually burn the bills?—no guaranteed way to verify that it actually happened, right?

It is as if “interest rates” that lead to debt enslavement and that are inherent to FIAT-printing central banks are getting obsolete.
Now we have trustless burning of currency/shares of the issuing company as a much better mechanism.

I believe this very burning mechanism is at the very core of what makes Nu potentially revolutionary for Humanity and planet Earth.

Also, such burning mechanism implies the voting mechanism of choosing custodians…this is where Nu’ s genius lays on.
The proof of stake as in proof of  holding shares.
Now when open sourced will Nu keep that huge advantage?
If Nu cultivates the culture of voting, electing custodians, it will get a huge momentum.
Nu is building it up right now.

You can see that Jordan Lee introduced this idea after shareholders money was hacked at exco.in and later at bter.com
Crisis leads to innovation because crisis implies huge constraints and creativity loves constraints.

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2015/01/30    Data feed in NuBits

“Anyone who follows motions, grants and liquidity closely should host a data feed.

It allows you to have more influence over the network than your NuShare position would otherwise permit.

On the other hand, if you are a shareholder that doesn’t follow all the latest info on this forum several times a week or more, please consider delegating your vote to someone hosting a data feed who is paying close attention and represents your viewpoint reasonably well. You can subscribe or unsubscribe to a data feed at any time.

Data feeds let users configure their Nu client to pull voting data from the internet. All that is needed is a URL to the voting data.

Your previous votes in the client are replaced when you set a data feed. If votes are manually added after you set the feed they will be removed on the next pull. You optionally can choose to ignore individual parts of a voting feed (motions, custodians, or park rates). If you choose to ignore custodian votes from the feed, for example, you may manually edit custodian votes in the client without the data feed overwriting them. All parts are selected by default. ”

Source: discuss.nubits.com & docs.nubits.com

 

 

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2015/01/26    How NuBits provides the missing link for Cryptos

“Offering the liquidity is the missing link in cryptos.
You are rewarded not for securing the blockchain but for securing the peg since the security of the blockchain is basically secured by voting from the shareholders and this is basically risk free.
Securing the peg is not riskless and therefore costs as mining costs energy.”

Source: cryptog

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2015/01/24    How NuBits are backed?

“The Nu network made a split between asset and currency.

NuShares (NSR) are the asset which have a fixed amount and a variable price level. They are the shares of that corporation.

NuBits (NBT) are the currency which have a fixed price level (1NBT=$1) and a variable amount.

In short the peg works like this:
custodians are elected by the NSR holders. The place buy and sell walls at exchanges to maintain the peg. Those walls are maintained by an open source programm called “NuBot” (which works so great it was copied by BitShares market makers).
If more money is needed due to rising demand, new NBT can be issued by the NSR holders.
Remark: NSR holders vote on custodians and other things in an ongoing voting process, but allow me to not go into further detail here.
If there are too many NBT in circulation, there are several approaches to reduce the supply. One of them is paying a park rate interest to remove NBT temporarily from the market, but the more important approach is to burn NBT and create NSR by doing that.
This inflates the amount of NSR and dilutes their value, but as the value of the whole Nu network highly depends on the stability of the peg it can be expected from the NSR holders to rather take a partial loss by diluting the NSR than a complete loss by a failing Nu network.

So NBT are ultimately backed by NSR.

If you see someone selling 1 NBT for less than 1 USD (only possible at exchanges which have no active custodian NuBots), I can only recommend to buy all you can get and sell it to a custodian sell wall at an exchange that has a NuBot running.
The latest example of that happening can be followed here: https://discuss.nubits.com/t/introducing-bitcoin-co-id-nubits-bitcoin-with-0-trading-fee/1140/28

Source: http://www.reddit.com/r/Bitcoin/comments/2t9day/bill_gates_just_said_on_jimmy_fallon_the_future/cnxnere

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2015/01/16    NuBits: Where Do Dividends & Network Revenue Come From?

1) How exactly is this system producing revenue?

“Shareholders elect dividend custodians and create new NBT for them, which are created by the network after a vote. The custodians sell the NBT on the open market. With the proceeds, they distribute dividends to shareholders. If demand for NBT rises, this can create a lot of dividends. If demand falls, custodians may end up selling the NBT very slowly, or not at all, in order to help maintain the peg.”

2) Why is it going to shareholders?

“Shareholders receive dividends as a reward for buying NuShares. Think of it like buying stock in a company that pays dividends.

It goes to all shareholders, equally distributed. Shares that have not yet been sold from the premine will also receive dividends, and Jordan has pledged that those proceeds will be used to fund core development.”

3) What’s the role of Peercoin?

“NuBits will create a demand for peercoins, in order to pay dividends. If all shareholders immediately sell the peercoins they receive, the net effect will be zero. However, if shareholders keep some dividends, the extra demand could increase the price of peercoins.”

Example of an issuing of Nubits:

“The shareholders elect a custodian and create 100,000 NBT for them ( in what is called an ‘expansion block’).
Demand is healthy and the custodian is able to sell them to people who want to use NBT. The custodian turns around and uses the profits to buy Peercoins, then pays them out to the shareholders. As the whitepaper mentions, a custodian is likely to be a shareholder himself, so his intentions align with the other shareholders. The revenue goes to the shareholders as that’s kind of the point of the system. There is revenue to be made in the network, and you are buying shares in that potential revenue.”

 

Source:  https://discuss.nubits.com/t/where-do-dividends-network-revenue-come-from/182/2

 

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2015/01/06    What is the Peercoin? (in light of NuBits)

“  Peercoin = crypto currency. NuBits = crypto bond with a peg”

“I don’t have confidence in the decentralization or sustainability of proof-of-work assets such as Bitcoin, so I needed a well distributed proof of stake asset external to the Nu network. Peercoin is a popular and stable proof of stake asset with a strong community backing it.”

“Like it was wise to separate the bank (NuShares) from the issued currency (NuBits), it is wise to separate the dividends from both the bank and the currency. Say you have decent amounts of dividends you need to pay. It would be quite simple to pay them with NuBits, because you can create the NuBits ou of thin air. NuBits is young and needs to prove itself being capable of what it was designed for. If believe it does that. But it’s safer to pay dividends with something that already has proven itself. Peercoin is the perfect choice. There’s no drawback for the Nu ecosystem to use Peercoin for dividends, but a benefit. Peercoin is independant from Nu. Peercoin has its own highly sustainable block chain. These benefits remain even if NuBits proves itself.”

“Why are Peercoins needed for the dividend payment? I could argue with “historical” or technical reasons; where Nu comes from, how the NuShares are based on the Peershares template, how the Peershares template is based on the Peercoin source code.

But the reason I see is more an economical one. Like it was wise to separate the bank (NuShares) from the issued currency (NuBits), it is wise to separate the dividends from both the bank and the currency. Say you have decent amounts of dividends you need to pay. It would be quite simple to pay them with NuBits, because you can create the NuBits ou of thin air. NuBits is young and needs to prove itself being capable of what it was designed for. If believe it does that. But it’s safer to pay dividends with something that already has proven itself. Peercoin is the perfect choice. There’s no drawback for the Nu ecosystem to use Peercoin for dividends, but a benefit. Peercoin is independant from Nu. Peercoin has its own highly sustainable block chain. These benefits remain even if NuBits proves itself.

NuBits and NuShares give Peercoin a very important real-world use. The dividends treat Peercoin as the backbone currency it was designed for.”

“What is particularly interesting with Peercoin is the fact it “informatizes” the mining aspect of bitcoin or “softwarizes” it so to speak, so that its security becomes “code” instead of “heat” to put things simple.

Now, it is easy to build things on top of it since it would amount to “traditional” software engineering.
Still, the financial part will remain.
I bet that the value of peercoin would be derived from the usefulness of the tools created on top of it or the services using it.
We can see it already with Nu.
Nu uses peercoin as a dividend transfer instrument.
If dividends increase, the demand for peercoin will increase, increasing its price.
Here peercoin is used as a way to quantify a reward.

So peercoin is software and at the same time a commodity used to quantify a reward produced or by extension a value output within an ecosystem using it.
What is the difference with bitcoin?
Well as bitcoin’s security is very expensive to maintain, it is not worth building things on top of it or building services using it because it is not sustainable. Therefore no sustainable ecosystems centered around bitcoin can exist.
So the value derived from it is thin. Therefore the demand for bitcoin in order to quantify that value is thin.

So peercoin or bitcoin are tokens used to quantify the value produced by the ecosystems using them.”

“At ethereum we generally don’t see blockchains as being financial tools exclusively; they’re more like decentralized computers that people run services on.”

 

Source: peercointalk, discuss.nubits.com, peercointalk chat box, ethereum forum

 

 

 

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2014/12/26    PoW (Bitcoin) vs PoS (Peercoin), for dummies

“Raw PoW works by finding hash with specified nonce.
Peercoin uses a timestamp and one of your transactions for this. This means you can’t win with a faster computer, as you can only hash once a second. All is needed is a stake and by having a larger coinage you stand a better chance to find a winning block.

Coinage is bounded between 30 and 90 days. Any unmoved coins will only be valid for minting after 30 days. After 90 days, their coinage is capped and cannot increase.
The hash includes previous blockchain data as well as a timestamp (in seconds). Any computer in the network will check that the timestamp in the new block matches the current time – it can reject the block if this doesn’t match.

So a verbal description of the PoS solution in PPC is:
hash(oldblock, timestamp) < target * coinage”

 

Source: r/peercoin, nov. 2014

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2014/12/23    Primecoin – The Hope

“Thanks for your support of primecoin. I think it’s fair to say that I designed primecoin not only as a breakthrough as scientific computing apparatus, but actually as a quality replacement of other more dominant PoW cryptocurrencies as they ignore the long term security challenges. Rebranding though is not necessary I think, at least the English name Primecoin does not really limited it to prime numbers, so I think the name is fine as it is. It may appear that primecoin has less development support at this point, but at least from my point of view primecoin would have my support. My current undertaking on sidechains, might even be tried on primecoin first, due to it’s different properties. Although this shouldn’t be taken as a promise. But in any case, if sidechains materialize primecoin would also have my support at some point.”

“Hi crypto_coiner, long-term bitcoin security relies mainly on transaction fees. primecoin realistically would continue to have some subsidy long term, so less reliant on transaction fees for security. I am of the opinion that the PoW sector and PoS sector would coexist for a long time. Although recently primecoin was lackluster in the PoW market. There was no plan to combine the two currencies, they were designed as two separate networks, both with strong security. Peercoin is better as savings instrument, primecoin is better as transactional medium. Best Regards,”

Source: Emails between Sunny King and Crypto_coiner, Summer 2014 (through the peercointalk chat box)

 

List of Primecoin clones/derivatives:

“pNut – FTW https://bitcointalk.org/index.php?topic=435232.0, https://cryptocointalk.com/forum/761-pnut-ftw/
Bernankoin – BEK https://bitcointalk.org/index.php?topic=375010.0
Datacoin – DTC https://bitcointalk.org/index.php?topic=325735.0, https://cryptocointalk.com/forum/487-datacoin-dtc/
CDNcoin – CDN https://bitcointalk.org/index.php?topic=393190.0, https://cryptocointalk.com/forum/566-cdncoin-cdn/
Primecoin – XPM https://bitcointalk.org/index.php?topic=251850.0, https://cryptocointalk.com/forum/280-primecoin-xpm/

And Riecoin is a modified clone of PrimeCoin, it uses prime constellations for PoW:

Riecoin – RIC 446703.0 https://cryptocointalk.com/topic/4914-riecoin-ric-information/”

Reason why there are a very few Primecoin pools: nobody knows how to make pools – With the exception of a handful of developers.

 

Source: bitcointa.lk (June 2014)

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