Bean Cash Official Forum

Bean Cash Community Meeting - 17 August 2019 "minutes"

append delete vmanuel

1. Why did Shawn mention that is starting an exchange?
It might be a good place to get listed.

2. was explained.
It is not a "normal" type of exchange.
-You can set up BCH trades directly with other users for cash;
you choose the means of payment.
-There is also a crypto-to-crypto exchange (where Bean Cash is listed).
The site acts as an escrow agent. There are no listings or market histories.
It works a lot like ShapeShift except it is all peer-to-peer.
-Some are not aware of this source though it is posted on the
website under "Get Bean Cash" menu item.

3. Communication needs to be better.
The community wants to increase presence in social media and more videos.
An associate of Shawn's has offered to make some videos.
If Bean Core spends too much time on social media, coding and
infrastructure maintenance will not happen. We need more of the
community to step up and help with these things.
VManuel has been doing an admirable job moderating mattermost and discord.

-xX_otto_Xx has rejoined Team Bean. He has been a Beaner for quite some

time. Those of us who have been around several years, remember him well.

He has been helping in Discord for the last few weeks, he has offered to

-Will plan "Ask Me Anything" sessions on Reddit every 2 months.
4. Someone was told POS coins do not pay enough to small holders.
-Shawn gave a tutorial about Bean Cash staking (which we call Proof of Bean).
Bean Cash (BitBean) was the pioneer in static block rewards (version 3
Proof of Stake). Everyone gets the same block reward when they sign a block.
Over time smaller wallets (nodes) actually tend to sign more blocks relative
to the amount of Bean Cash they hold than the larger ones.
-Masternode coins seem to be profitable for the master node holders, but
master nodes present a centralization to the currency using them. This
centralization is a point of weakness that can be exploited by malicious
actors. DDOSing enough master nodes can take down an entire network.

5. Decentralization is key to the stability and security of any currency.
-Shawn contrasted decentralized cryptocurrencies with fiat currencies that
use a central bank which can arbitrarily create more money are not stable.
Over time all fiat currencies have been devalued through this process.
A unit of any fiat currency buys less now than it did previously. Several
cryptocurrencies were mentioned, including Bean Cash, that have a fixed
monetary policy and a defined maximum supply.
-The value of decentralized exchanges, in which the user controls their
private keys 100% of the time, must not be underestimated. The ability to
control your property, along with privacy, is _freedom_. Recently,
the powers-that-be are eroding freedoms by encroaching on privacy and
control. These are tenets that the Aurora project is intended to address.

6. Someone mentioned that the volume of Beans in their wallet is more than is
reported on the Block Explorer.
-This is probably related to change addresses in the wallet.
-Shawn offered to help sort this out after the meeting.

7. What changes are coming in version 1.3?
-Some performance improvements (more efficient code).
-GUI improvements.
-Usability improvements.

8. Cryptolatino mentioned that the donation address should be a multisig
-This will be addressed.

9. The idea that has been posted in chat lately that Shawn should donate
100,000,000 of his Beans to a wallet whose sprouts would be used for
financing marketing and other initiatives was mentioned.
-Shawn remarked that he spent several years working hard and doing without
to accumulate the Beans that he holds. He was not involved in the early
mining of Beans. He bought all of them at market rates over time. He has
invested his sprouts back into Bean Cash in the form of infrastructure and
paying salaries for help on the project.
-Everyone agreed that he should maintain control of his Beans. Several
remarked that they would never surrender control of their Beans in such a

10. What happened to the funds in the donation address?
-They were used to pay for tasks that needed to be completed, including
writing wiki pages, hiring a web dev to help with rewriting the website,
paying a PR person to manage social media marketing. Some was given away
in airdrops and the official faucet to encourage adoption.

11. Someone asked for Shawn's take on, "Who is the real Satoshi Nakamoto?"
-Craig W. is not Satoshi.
-We don't know who the real Satoshi is.
-There are many conspiracy theories about Satoshi Nakamoto.

12. Some goals to be attained:
-1 million transactions per second (TPS). (Data from 2 years ago indicate
that VISA handles 2000 to 4000 TPS, and PayPal handles less than 200 TPS)
-Make crypto easy to use so people won't have to learn a lot of technical
stuff to use it, but just be able to pick it up and go with it.
-A Bean Cash card that can be used like a credit card for expenditures.
There are legal impediments, but they can eventually be overcome.
-Anonymity/privacy functions. Currently, sprouts and any other transactions
are not perfectly anonymous. Nodes know the IP address of the other nodes
with which they are connected, so someone who put in the effort could learn
who owns what Beans.
-Rolling releases every three months.
-Reddit tipbot.
-Bridging all social platforms to mattermost, so people can log in to their
favorite platform and still get all the chat from the others without having
to log in multiple places.

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