Was there an ANN somewhere that I missed? What problem is it solving exactly…
Ahh, here we go: https://bitcointalk.org/index.php?topic=960933.0
I still don’t understand what problem it solves. Anyone know what Octo888 was? Did their chain fail?
It seems it had (or was aiming at having) some features (e.g. crowdfunding) similar to Counterparty.
It’s good to have them on the Counterparty platform. All tokens/apps are equally welcome regardless of what they do.
Well, we certainly don’t have any ability (or interest) in discriminating against projects. As for ‘welcoming’ all projects, well, I say there’s some things we shouldn’t go so far as to welcome… (cough-cough HopeGoldCoin!)
But , yeah I didn’t mean to cast any aspersions on this project, I’m just unclear as to what it does
The list of dubious coins is guaranteed to get longer
The CP-listed (fake) MaidSafe is another example.
From the (new) Octocoin Web site:
OCTO is a Counterparty asset with focus on decentralized website payments for Counterparty assets and Token Control Access Marketing. OCTO will create and fairly distribute a total of 88.8 million coins to be used for early access and testing of the OCTO projects. Distribution includes an alt coin burn, merged mining with FoldingCoin and a future crowd sale.
Reminds me a bit of Let’s Talk Bitcoin’s token. The idea about merged mining with FoldingCoin is good.
So here is the story for OCTO:
Originally OctoCoin was a coin that the original devs promised and made plans to build an alleged 8 fantastic apps that include wallet, gambling, messaging, mobile ext ext. You can find the original OctoCoin ANN here https://bitcointalk.org/index.php?topic=504265.0
So like many altcoins in this space, the original dev team did a really good job of getting their name out there and convincing a lot of folks to mine and buy into OctoCoin (then the symbol was 888). So starting in about October of last year the dev team over at OctoCoin just kind of disappeared. Then the community had 888 that was actually roughly worth $500K but when the dev team disappeared the price of course naturally disappeared with it.
So starting in December a group of 888 community members began looking for new devs to take the project over, and this is where the story starts. About half of the community at 888 still had faith in the original devs and the other half of the community thought them to be scammers. There is arguments to both sides if you want to dive into the original ANN that i provided above.
The community member Kris (who is now the project lead for OctoParty) found Counterparty in Jan of this year and thought that to be a good solution for Octo to move to since the wallet and blockchain would not have to be completely redone or worked on, but instead they could focus on what the coin would.should be used for. So Kris contacted various CP devs to see if they could help in the resurrection of 888 and advice was given, but not to much on wanting to help 888. Then Kris stumbled across Merged Folding and begain discussions with FLDC.
So the FLDC team and Kris annoucned to the 888 community that the first step in rebuilding was to get the coin moved over to the counterparty protocol. One of the big reasons for moving was that since the original devs stopped working on 888 the original 888 wallet and blockchain no longer worked, and also they had been delisted from Bittrex their biggest exchange. So here is the order of events that took place to move 888 over:
- Talks begain on the original ANN here https://bitcointalk.org/index.php?topic=504265.msg10452356#msg10452356
- Since CP doesnt allow numbers, 888 got rebranded to OCTO
- A community member from 888 reestablished the wallet and blockchain temporarily so we could see who had 888 and the wallets associated with their amounts
- A small fee was paid to the company http://blockexperts.com/888 to get the block explorer running again
- A burn address labeled 8burnYouroctoHere4oCToPartyXRcdDgX was created for people to send 888 to (this is address is verified as unspendable in a similar way that the Counterparty burn address is)
- Community members that wished to move over to OCTO had been instructed to fill out google docs forms with what 888 address they controlled and the new CW address they wished to receive the new OCTO in exchange for burning 888
- A deadline was set to partake in the burn
- Using the LTB asset distributor we sent the amounts in the participants to their CW wallets and the doc is found here https://docs.google.com/spreadsheets/d/13nfukjfGvfwwI6Y2dUY13eVZLF6NmslkvXtx7GczO-g/pubhtml and the actual burn TXs are found here https://docs.google.com/spreadsheets/d/1y3SXBVIHfkKYF7l-N6j5HsbDXp6Y0Wmc8v3Ao2qKOR0/pubhtml
- People can now earn OCTO (not 888 anymore) in the form of Merged Folding in addition to any other ways that Kris and his team decide
Now that they are moved over, the rebuilding can begin. Kris is actively looking for devs to help in the creation of a Fantasy sporting gaming website for OCTO to be the native currency of. Obviously at this point there isnt anything there, but from speaking with Kris and working with him, he is a really nice and dedicated guy that just wishes to help rebuild Octo for the community that got left high and dry.
Thats basically the story hopefully they get something up and running because it could be a good example of how CP can help revive coins in which community members invested a ton of money into a coin that eventually turned out to be a scam/abandoned.
Glad to see your interest. I was actually going to reach out to you about OCTO for some advice.
I’m currently at work. I will be available after 4 pm est.
You can add me to Skype at: kristgarp78
Thanks! Kris @ OCTO
Holy cow! What a saga. But, yeah, if you think altchains are sustainable, you’ll end up here eventually I suspect. It does seem like OCTO is a bit of a community without a cause though. So, let’s see what they come up with.
Technically we are a community without devs and a cause. But I have 2 ideas I would like to focus on. I’ll post more later when I’m off work.
Chris, please add me to skype and I’ll discuss my 2 ideas with you. I think that both are doable and worthwhile. My main issue at this point is finding devs. I’ve interviewed a few already in the Tampa/St. Pete area.
I moved to Florida for this so I will find a way to make it work.
kristharp78 on Skype
I got faith in kris Even though he isnt a developer, his heart is in the right place and the crypto community needs more leaders like that. There is already enough developers of token/coin projects who can code a really good scam, its the time for those that believe in advancing crypto to start coming out
Though that is the cool thing about Counterparty, hasnt really been any scammers yet, but of course that will not last forever
Ok, now that I’m home from work…
Robert caught everyone up on the actual forming of OCTO. At this point we are a community who transferred from an abandoned coin. The #1 goal is to save an abandoned alt and make it successful. As the alt market floods there will be many alt blockchains fail. While some should, if we are successful we create a working model of how to transfer your alt blockchain to CP. Robert’s assistance has taught me what I need to know and I would be glad to assist any serious players who want to make the jump. That alone is worthwhile when you consider the amount of great communities who were left holding the bags from either a pump n dump, scam or just failed projects. The point isn’t to accept every failed coin but to provide the best practices to transfer those who seriously want to save their investments and communities.
That being said…
I knew moving to CP wouldn’t just automatically save the coin. I committed to this project and actually moved from Kentucky to Florida because the Bitcoin community is fairly active here and they had the Bitcoin Bowl. That bit me in the ass, which is fine. I have already met with the locals who assisted Bitpay in merchant signup leading into the first Bitcoin Bowl. Since that is now gone, I will have to think of another way to pursue the marketing. However, it’s Florida, there’s no way that we cannot find another large event or events to market around. If anything, we will create our own events that help grow Bitcoin merchant acceptance and help market these companies so that they see an uptick in sales. I’m not convinced that a football game was the best scenario for this to begin with, although I was excited about the Bitcoin Bowl. In general Florida is vacation country, that alone should be enough to attract Bitcoin spenders if marketed correctly.
As for OCTO. I know we need some projects. I am actively recruiting and interviewing devs and it’s been a long process that hasn’t led to a dev yet.
Project 1: Bitcoin Merchant Marketing - So anyone can market or advertise but I have some great ideas using Token Control Access and how to incorporate it into marketing so that it is useful for both Bitcoin Merchants and Bitcoin Customers. We plan to build on what Tokenly has already built and of course anything we build will remain open source.
As for ways to incorporate into Advertising:
- Merchant Distributed Customer Tokens - Only existing customers have access to special deals or the ability to review the merchant.
- Coupled Merchant-Customer Tokens - The merchant can purchase a token to advertise. The Customer can purchase or be rewarded with a coinciding token to view the special deals.
- Tokens for merchants that represent vacation packages.
Those are the only examples I will post. The rest are not things I can reveal But there are more unique ideas.
Project 2: Counterparty Payment System With Fee Generator - It’s great that we have tokens to represent a wide variety of projects on CP. They all have their own unique uses and values that will be determined by how well the projects do. But, what if while you were holding those tokens you could use them for a wide variety of projects. Also, what if as a dev, you had more uses for your own token?
- The Counterparty Payment System would allow token holders to use their tokens on a wide variety of services that aren’t necessarily what the dev has deemed the token to represent. Sure Storj represents that project and will be used in the Storj ecosystem to purchase cloud storage or be paid in the token for renting hard drive space. But what if the Storj holders had other places to spend Storj such as a website store or game. What if any merchant had the ability to accept whitelisted CP tokens as payment and could charge a fee in any token they wish? What if the players were playing a website game and could pay an entry fee in any whitelisted CP token but had to pay a fee in a token to do so?
2.The use case for this will be built around a Fantasy Sports website. The working model may only be a Fantasy MMA website as to keep 1 simple game instead of managing a few different types of Fantasy Sports available on the market today.
- In the Fantasy MMA model, we can build a system where multiple players participate in the game. The game creator will set what token/s will be used to play and the buy in price. The players must pay the correct amount with the allowed tokens to play. The players must also hold OCTO and pay a fee in OCTO to be allowed to participate. This utilizes Token Control Access and generates income for the site.
- Allowing players to participate with multiple tokens will be interesting to see. I am not quite sure how to automate the process but there are definitely manual ways to do so. I think at first it will simply be play with one selected CP token chosen by the game creator and require OCTO to participate on the site and to pay fees to play.
- Token Control Access can be used to participate in many different parts of the actual game. We can distribute tokens in a crowd sale where the buyer not only gets OCTO at a discounted price but also receives tokens that will allow the user access to the beta and other perks on site and in game for either a discount or exclusive token holder only.
So this is my original thoughts on potential uses. We aren’t looking to necessarily do something that hasn’t already been done. We will be expanding current ideas to be used in ways that aren’t already implemented and then see what we can build to make it a better experience.
The best part is, that any code written by OCTO devs will be open sourced so that any CP asset can implement these uses for their tokens.
We are still searching for devs who share this vision. We also are open to other ideas. OCTO is not set in stone yet. That’s one reason why I haven’t really released too much information yet. We aren’t trying to pump up OCTO’s price by saying we are doing some crazy stuff or getting involved in Fantasy Sports. At this point, we are a token that is being distributed through Merged Folding and a LTB Lottery Faucet. We will find our place once we have devs that see value in my visions or that can convince me that we can rally the OCTO community around another vision. Also, I am not a dev, only a crypto fanatic who wants to do something special and find my place in this space. I took the lead as a project manager to get us to where we are and had the help and support of a lot of great people in the OCTO community.
Feel free to post any feedback. I’m always looking for it.