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Bitgem

First crypto-currency trading colored Gems

Bitgem is one of the first cryptocurrencies, founded in May 2013. Only about 30,000 of them exist. While most coins are simple clones, Bitgem was designed to add an extra function. The Bitgem wallet can generate four different types of trading gems.




WHY BITGEM?


The BTG wallet allows you to create colored gems with various characteristics and qualities. These new gems can easily be created in the wallet and the new gems can be sent to other BTG users. There are four broad types of gems you can create, Diamonds, Rubies, Saphires and Emeralds.

BTG can be converted into Diamonds, Rubys, Sapphires, or Emeralds. There are two processes involved:

1) Create gems. Gem-creation is symbolized BTG -> {bDMD, bRBY, bSPH, bEMD}. It is the process of making bDMD, bRBY, bSPR, bEMD with specific carat, color, clarity, cut and shape properties.



Modular Wallet

It is done extending bitcoin original wallet, by means of an extension of wallet source. So, extending original wallet (wallet.dat), it is possible to storing gem creation information into extended wallet (gemwallet.dat).

WARNING: If you delete or lose your gemwallet.dat file you will lose your gems. Always backup your wallets..

2) Sending gems. Bitgeminization is symbolized {bDMD, bRBY, bSPR, bEMD} -> BTG. It is the opposite of gem creation, and it is carried out when an incoming BTG transaction is converted to existing gems.



The aim of current development is to provide a native method for sending colored gems, ie. bDMD, bRBY, bSPR, bEMD.

Gem creation and Bitgeminization (sending gems) processes are being developed and refined for a future wallet.

Please note the the current wallet code does not include the "forge gem" routines.
they are missing from the github repo - and will take some time to rebuild.



DISCUSSION: BITGEM FUTURE DEVELOPMENT


BitGem is a scarce crypto, just about 32,000 BTGs are out there. For future development and to provide added-value, I am planning 3 mainlines, not mutually exclusive, embodying gem properties into any transaction: granularity, tagging and color.

- transaction granularity: because gems are traded like raw gems, "sticky" transactions would allow trading whole gems, rather than fractional amounts of BitGems. This "packing" of gems could be rewarded with an additional stake reward, to encourage the staking of big gems.
- tagged coins: relates to granularity. It would allow you to tag the gem with all 4Cs properties and store the gem in the blockchain.
- colored coins: provide true colored coins (diamond, ruby, sapphire and emerald), with an independent or modified exchange, so it could be automatically exchanged in a secondary market.
I am planning an update allowing sending of bitgems through the BitGem Wallet. => DONE !

You can take advantage of future development for making contributions supporting this project


FEATURES

  • Colored coins.
  • PoW scrypt.
  • PoS, with RoI 1-3% year
  • Block time: 10 min.
  • Difficulty adjustement each block.
  • Vey scarce: reward 3 BTG each block, halving X4 difficulty.
  • Simple 4Cs gemstone model implementation.
  • GemWallet for quering your balance in gemstones with a lot of settings.
  • Installer provided.
  • No premine.
  • Ports:

    - Port=7692
    - RPCPort=8348


  • SIMPLE 4C's GEMSTONE MODEL

    Lets you transform your BTGs into the different type of gemstones, diamond, ruby, sapphire, emerald. 4Cs model take the 4 gemstone properties: Carat, Clarity, Color and Cut and modifies your gems using those parameters.

    General information about 4Cs model is based on http://www.collectorfinejewelry.com/quality_4cs.htm.


    CARAT

    A carat is a weight unit and is equal to 0.2 grams. Usually, there is an exponential relation of value with carats.


    COLOR

    Is a graded scale, from 'D' to 'Z', with D being the best grade and Z the worst.

    In diamonds, colorless is better and perfectly colorless would be D.

    12

    In rubies, sapphires and emeralds, more defined hue colors are more valued, and more intense colors (saturated) are more valued too. Well defined, intense, brilliant colors are graded from D (best) to Z.


    3

    CLARITY

    Clarity refers to the lack of inclusions or flaws in a gem. The Clarity Scale contains 11 grades,

    - FL: Flawless - No inclusions or blemishes are visible to a skilled grader using 10× magnification - IF: Internally Flawless - No inclusions and only blemishes are visible to a skilled grader using 10× magnification - VVS1, VVS2: Very, Very Slightly Included - Inclusions are difficult for a skilled grader to see under 10× magnification - VS1, VS2: Very Slightly Included () - Inclusions are minor and range from difficult to somewhat easy for a skilled grader to see under 10x magnification - SI1, SI2: - Inclusions are noticeable to a skilled grader under 10x magnification - I1, I2, and I3 - Inclusions are obvious under 10× magnification and may affect transparency and brilliance

    CUT

    Cut refers to the symmetry, finish, style and proportion of cut. Just graded as EXCELLENT, VERY_GOOD, GOOD, FAIR, POOR.


    SHAPE

    While round shapes are generally more valued, shape preference is a a personal choice.

    Shapes included are :

    - ROUND,
    - OVAL,
    - PEAR,
    - MARQUISE,
    - HEART,
    - SQUARE,
    - SQUARE_EMERALD,
    - SQUARE_CUSHION,
    - BAGUETTE,
    - TAPERED_BAGUETTE,
    - RECTANGLE,
    - EMERALD_SHAPE,
    - CUSHION,
    - TRIANGLE,
    - TRILLION.


    POOLS



    BLOCK EXPLORER

    - BTG BLOCKEXPLORER OFFICIAL http://btg.altcoinwarz.com


    EXCHANGE

    - Cryptopia: https://www.cryptopia.co.nz


    SOCIAL

    - bitcointalk: https://bitcointalk.org/index.php?topic=207008.0


    Please note the the current wallet code does not include the "forge gem" routines.
    they are missing from the github repo - and will take some time to rebuild.


    Downloads

    select your download  
     

    CONTACT US

    Please note the the current wallet code does not include the "forge gem" routines.
    they are missing from the github repo - and will take some time to rebuild.