BitHub - Colored Coins for Coders


#1

Came across a link to http://gobithub.com on the GHslack and I kinda like this concept.

It’s like GitHub for coders but with a twist. When you create a new project and you fund your account with some BTC a colored coin is issued which is then distributed to developers who are contributing to your repository.

There is some pros and cons to it though because there seems to be little to no control over how rewards are distributed which could just lead to a lot of junk code being committed to reap in rewards. Anyway, I love the approach BitHub took and I guess they’ll fine tune the system once (and if) it grows.

Either way… yet another very cool application of the open assets protocol (through Coinprism’s API).


#2

This is a great idea.


#3

Love the idea (site not so much), it’s what’ve been missing to free open software.


#4

Guys, BitHub creator here – I found the link to this forum on Twitter and wanted to introduce myself. Thanks for the compliments!

I agree with @cyberdexter that the devil is in the details of implementation. The hope for now is that competent owners of their repository will boot people making junk code commits, but we’ll certainly need to make more improvements as we perfect it.

This is why I’m dog fooding the process on Bithub itself. I backed the project coin with .1 BTC, if you all have suggestions for how to improve the site please join the repo and earn :smile:

Looking forward to all your questions and comments.


Gerrit


#5

Welcome to the forum. I look forward to seeing more developments on this project


#6

Nice to see another use for coloured coins…the ecosystem is growing :slight_smile:


#7

[quote=“gerrit, post:4, topic:5081”]
Guys, BitHub creator here – I found the link to this forum on Twitter and wanted to introduce myself. Thanks for the compliments![/quote]

Hi Gerrit, welcome to our little community and thanks for signing up. You’ve come to the right place for everything colored coins :slight_smile:

I agree with @cyberdexter that the devil is in the details of implementation. The hope for now is that competent owners of their repository will boot people making junk code commits, but we’ll certainly need to make more improvements as we perfect it.

Perhaps it would be an idea to have some sort of approval process for a developers first commit to a project prior to the commit being accepted and the person being rewarded.

I’m battering my head atm to see if people could barter their project coins / rewards via the GHxchange. Not even sure if it is a viable idea but I definitely like your project.


#8

Great idea on approval process for first commits, I’ll put this on the feature list.

I don’t know about bartering the coins offsite – I know they are all stored in a Coinprism wallet and should therefore move between asset-enabled wallets just like Bitcoin, but it’s currently beyond the scope of Bithub.


#9

Well, you can already move them between Coinprism, GHcloud, Trezor, Armory and co. Imho the more ways of application and decentralized means of swap assets or tokens is the way to go.

I do see however how the offsite moving of the colored coins could conflict with your roadmap or plans. Perhaps (down the road) you could consider giving users / coders the option to get rewarded in BTC for the asset(s) received as reward or for them to keep the asset which might have it’s very own market value and would be therefore yet again freely tangible.

Anyway just spitting out thoughts :slight_smile:


#10

Donation = btc dividends thru colored coins
PR’s and issues = reward in colored coins

Right?


#11

@cyberdexter – We don’t have any issues with people moving assets around. This gives asset owners the flexibility to hold it, transact it, or uncolor it for its scrap value. The possibilities for how creative project owners could utilize this system are exciting.

@rdewilde – we don’t have any mechanism built in for dividends or donations, our focus is on minting coins and distributing them fairly to coders.

Our current mechanism is creating 30X assets, and giving out X per day, split equally among anybody who commits that day. That being said, I could see PR’s and issues being a really cool too. At this stage we are nimble enough that we would be happy to build in alternate reward mechanisms at the request of any project owners looking to mint a project coin.


#12

Shared a link to your site to my friends on FB, most of them wouldn’t know what to do with it, one or two would…whether they’d be interested, or perhaps even pass it on is another matter.

Good luck with the project though :slight_smile:


#13

Sorry, I must have misunderstood your concept :slight_smile: np


#14

Thanks @BoB, this is definitely a niche (hackers) within a niche (bitcoin people), so certainly not for everybody.

Best way to get this to catch on is for any GH members who actively contribute to repos to actually try it out for yourself.

To grease the wheels, I’ll be refunding half the deposit towards any project coin (up to 0.1 BTC) for the first ten projects :smile:


#15

The best part of colored coins is the ability to distribute dividends. Otherwise they are more of a valueless token of recognition.

Coinprism has that functionality all covered through the use of their service. The Coinprism blog has some useful information :+1:

http://blog.coinprism.com/2014/07/12/colored-coins-dividends/

http://blog.coinprism.com/2014/11/17/colored-coin-denominated-dividends/


#16

BTW, interesting discussion of colored coins going on at Reddit: https://www.reddit.com/r/Bitcoin/comments/3haxiu/beware_coloredcoinsorg_is_not_what_you_think_it_is/


Colu Engine
Bitcoin XT Fork
#17

That almost deserves it’s own post. Interesting discussion, thanks for sharing.


#18

All, I’m putting together a Slack group for people who want to stay in the loop on this project – you can join at http://gobithub.slack.com/ – hope to see you all there!


#19

I tried going there but I think I need to be invited because it says my email doesn’t fit for that team. Thansk for starting this BTW :slight_smile:


#20

Shoot – I thought I had that fixed. Could you msg me your email address?