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Offline GRC

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Potential Gridcoin to BTS sharedrop enquirey
« on: April 26, 2015, 10:23:05 PM »

Gridcoin just upgraded from POW to POS+POR, the burn period deadline has passed and there's a significant sum of unclaimed Gridcoin.
There's a discussion started on the cryptocointalk forum regarding this, and the topic of sharedropping a sum of gridcoin onto BTS or other crpytocurrency blockchains has arrisen.

https://cryptocointalk.com/topic/31314-discussion-leftover-burn-process-coins-what-should-be-their-fate/

How would a non bts-toolkit cryptocurrency execute a sharedrop without the sharedrop coins being held by a centralized authority?

Could some knowledgeable bitshares users drop some knowledge on the gridcoin users?

Thanks.

Offline xeroc

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Re: Potential Gridcoin to BTS sharedrop enquirey
« Reply #1 on: April 27, 2015, 06:30:32 AM »
Welcome GRC,

nice to see someone from gridcoin over here.

Gridcoin just upgraded from POW to POS+POR, the burn period deadline has passed
and there's a significant sum of unclaimed Gridcoin.
There's a discussion started on the cryptocointalk forum regarding this, and the
topic of sharedropping a sum of gridcoin onto BTS or other crpytocurrency
blockchains has arrisen.

https://cryptocointalk.com/topic/31314-discussion-leftover-burn-process-coins-what-should-be-their-fate/
Interesting .. very interesting!
Quote
How would a non bts-toolkit cryptocurrency execute a sharedrop without the sharedrop coins being held by a centralized authority?
the bts toolkit/chains are based on the same ECC curve as does bitcoin and
supposedly also gridcoin. So, what you can do is, identify a group of people
that you want to sharedrop onto, and get their public keys .. you require the
public keys because you need to derive the corresponding gridcoin address.

After deriving the gridcoin addresses from the bts public keys .. you can send
gridcoins to those addresses depending on your sharedropping scheme (everyone
gets the same, or proportional .. or what ever)

Those holding the tokens can now import their private keys into gridcoin and
load there grid tokens. And this is unfortunately the crux .. people might
decide to not trust your developers and fear for their tokens in the BTS chain
because they load the private key into a 3rd party software.

There has been discussion about how to resolve this deriving a deterministic
child key instead and give the users a simple (easy to verify) tool that does
the corresponding process with their private keys.

Not sure how the devs are doing this
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Offline fuzzy

Re: Potential Gridcoin to BTS sharedrop enquirey
« Reply #2 on: April 27, 2015, 06:53:08 AM »
Welcome GRC,

nice to see someone from gridcoin over here.

Gridcoin just upgraded from POW to POS+POR, the burn period deadline has passed
and there's a significant sum of unclaimed Gridcoin.
There's a discussion started on the cryptocointalk forum regarding this, and the
topic of sharedropping a sum of gridcoin onto BTS or other crpytocurrency
blockchains has arrisen.

https://cryptocointalk.com/topic/31314-discussion-leftover-burn-process-coins-what-should-be-their-fate/
Interesting .. very interesting!
Quote
How would a non bts-toolkit cryptocurrency execute a sharedrop without the sharedrop coins being held by a centralized authority?
the bts toolkit/chains are based on the same ECC curve as does bitcoin and
supposedly also gridcoin. So, what you can do is, identify a group of people
that you want to sharedrop onto, and get their public keys .. you require the
public keys because you need to derive the corresponding gridcoin address.

After deriving the gridcoin addresses from the bts public keys .. you can send
gridcoins to those addresses depending on your sharedropping scheme (everyone
gets the same, or proportional .. or what ever)

Those holding the tokens can now import their private keys into gridcoin and
load there grid tokens. And this is unfortunately the crux .. people might
decide to not trust your developers and fear for their tokens in the BTS chain
because they load the private key into a 3rd party software.

There has been discussion about how to resolve this deriving a deterministic
child key instead and give the users a simple (easy to verify) tool that does
the corresponding process with their private keys.

Not sure how the devs are doing this
@Hackfisher
@bytemaster
@vikram

Didn't PC fix this with his Key Importing tool?
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Offline xeroc

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Re: Potential Gridcoin to BTS sharedrop enquirey
« Reply #3 on: April 27, 2015, 07:29:05 AM »
Didn't PC fix this with his Key Importing tool?
you have a link to that? Maybe I just missed that ..
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Offline svk

Re: Potential Gridcoin to BTS sharedrop enquirey
« Reply #4 on: April 27, 2015, 10:19:01 AM »
Didn't PC fix this with his Key Importing tool?
you have a link to that? Maybe I just missed that ..
It's only implemented in PTS 2.0, it lets you import a wallet by using a signed message.
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Offline fuzzy

Re: Potential Gridcoin to BTS sharedrop enquirey
« Reply #5 on: April 27, 2015, 10:20:29 AM »
Didn't PC fix this with his Key Importing tool?
you have a link to that? Maybe I just missed that ..
It's only implemented in PTS 2.0, it lets you import a wallet by using a signed message.

Thank you SVK.  How hard would it be to port it to the other chains?
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Offline pc

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Re: Potential Gridcoin to BTS sharedrop enquirey
« Reply #6 on: April 27, 2015, 10:34:24 AM »
It's only implemented in PTS 2.0, it lets you import a wallet by using a signed message.

Thank you SVK.  How hard would it be to port it to the other chains?

You'd have to reimplement it from scratch if you want it in a BTC clone. BTC handles transactions in a completely different way than BTS.

But the basic idea is portable of course, and it would be my recommended way of handling this.
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Offline fuzzy

Re: Potential Gridcoin to BTS sharedrop enquirey
« Reply #8 on: April 28, 2015, 02:04:28 PM »
Welcome Grid!

I'll take you for free, if you don't require my private keys :)

Anyone who has been around for awhile will know that I have always deeply respected gridcoin.  In fact it is one of the few POW tokens I actually believe serves a purpose that makes sense.  At worst, it puts ASIC manufacturing into an arena where it provides a utility for humanity. 

I guess what I'm saying is that I want to have regular hangouts with you guys.  I want to help you teach about BOINC and all the amazing stuff you can do with it.  The community pays me, but I have spoken well of you guys actually innovating in the space and trying to bring real value, so I think they would be cool with me doing hangouts with you guys too.  They'll be especially fine with it if you honor them with a stake in your innovations....

So since you guys reached out, I am going to reach out too.  I am going to help give you guys the love of our community...if you are interested that is :)

Sincerely,

Justin Fondriest (fuzzy)
Beyond Bitcoin: Founder
Twitter: @beyond_bitcoin
Email: [email protected]

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Offline traderman

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Re: Potential Gridcoin to BTS sharedrop enquirey
« Reply #9 on: April 28, 2015, 04:28:16 PM »
I think it would be a great idea to share-drop the leftover Gridcoin to the Bitshares community. I think it would be best if the whole think is done in several chunks, a few mill at a time at specific time intervals. Would that be possible?

Offline Pheonike

Re: Potential Gridcoin to BTS sharedrop enquirey
« Reply #10 on: April 28, 2015, 05:27:59 PM »

Sharedropping would be great. I can think of ways in which Bitshare can add value Grid and vice/versa.

Offline fuzzy

Re: Potential Gridcoin to BTS sharedrop enquirey
« Reply #11 on: April 29, 2015, 12:49:01 AM »
I think it would be a great idea to share-drop the leftover Gridcoin to the Bitshares community. I think it would be best if the whole think is done in several chunks, a few mill at a time at specific time intervals. Would that be possible?

Yes...it is definitely possible to enable distribution via a "vesting" process.  I also have some potentially powerful synergies I can think of but I would like to speak with you in private.  It would likely be significantly beneficial for both Gridcoin and BitShares.
« Last Edit: April 29, 2015, 12:56:09 AM by fuzzy »
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Offline fuzzy

Re: Potential Gridcoin to BTS sharedrop enquirey
« Reply #12 on: April 29, 2015, 05:51:48 AM »
Does anyone think we could get consensus on the Delegates to Operate a feed for the price of the new Gridcoin on the BitShares Decentralized Exchange?  I think it would be a good way to show some love to a community who wants to honor us with a stake in their project :)

Oh and if anyone is wondering why they chose us...it is because they think like us and have for a long time:
« Last Edit: April 29, 2015, 08:16:11 AM by fuzzy »
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Offline GRC

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Re: Potential Gridcoin to BTS sharedrop enquirey
« Reply #13 on: May 01, 2015, 12:10:19 AM »
Thanks for the positive responses regarding this possible sharedrop.

Currently, the gridcoin community is holding a poll determining the fate of the unclaimed coins: https://cryptocointalk.com/topic/37900-poll-disposition-of-coins-remaining-in-foundation/

Participating in hangouts sounds like a great idea, and working towards getting Gridcoin added to the BitShares decentralized exchange would be incredible.

Offline fuzzy

Re: Potential Gridcoin to BTS sharedrop enquirey
« Reply #14 on: May 01, 2015, 12:25:31 AM »
Thanks for the positive responses regarding this possible sharedrop.

Currently, the gridcoin community is holding a poll determining the fate of the unclaimed coins: https://cryptocointalk.com/topic/37900-poll-disposition-of-coins-remaining-in-foundation/

Participating in hangouts sounds like a great idea, and working towards getting Gridcoin added to the BitShares decentralized exchange would be incredible.

Yeh a I've been a fanboy of Gridcoin for quite some time...so this is something I'm reallllllly pumped up about.  This isn't even mentioning that I think the DACs BOINC will produce would be perfect to form alliances with our DACs.

I'll be watching this poll.
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