Topic: [ANN][CRB] Creditbit - ERC20 token - page 114. (Read 391259 times)

All community,just receive this great video!
gift from one Crbit holder!
WOW

http://www.dailymotion.com/video/x5bsyg7

Please share,put it on yutube,and every where!

Dear Community,

we would like to further explain some details about Proof of Trust/Pawn, a locking mechanism, that is one of the core attributes of future CreditBit token.

Two modes of tokens
Each wallet (more precisely: each public address) will have two balances. Both balances belong only to this public address.
First balance is representing transferable tokens, similar like at other currencies. Second balance is representing “locked” tokens, that are not transferable. Balance is the sum of several batches of tokens, each locked for a different period of time. After the expiry of a locking period, each batch of previously locked tokens is moved to first, transferable balance.

“Lock” on the batch of tokens is an item by itself. It can be created only by trustworthy entities, that in practice represent distribution mechanisms or CreditBit DAO organization and with a prior consent of tokens owner. If and when an owner of tokens voluntary enters a distribution or voting mechanism with predefined batch of tokens, he lock them for a predefined period of time. In other words: if an owner of tokens wants new tokens or wants to vote, he/she has to lock a certain amount of his tokens and thus show his trust in the Community. Locked tokens are not lost, only their transferability is restricted for a certain time period.

Trust with locking?
Several good currencies with brilliant ideas were destroyed due to market manipulations. Our community tends to support responsible behaviour, based on mutual trust. Long position on tokens bares some level of risk. With locking your tokens for months or even for a week you show your respect and trust into the community.

Bounties for developers and promoters will be payed out in locked tokens. Locking period will prevent instant dump on the market, helping currency to reach stability and proper value. We would like to spread risk/trust among all participants in our community.

Same principle will be in effect for voting in CreditBit DAO. In order to participate in DAO voting, owners will have to lock certain amount of tokens. Votes will be pounded with the amount of locked tokens, therefore linearly dependent on the trust.

Transferable Lock
An owner will have an ability to transfer a right to unlock (ownership of a “lock”) a certain amount of locked tokens to other entity. Lock itself is thus a transferable entity, but the transfer does not affect the current ownership or transferability of locked tokens. This only means, that after the expiry of the locking period, an entity, that became a new owner of a lock, will have the right to unlock and transfer this tokens simultaneously to an address of choice.

Degree of Trust
Degree of Trust is the ratio between sum of all locking tokens periods and all existing tokens. More locked tokens for longer periods, higher Degree of Trust. A constant or at least slowly changing Degree is a desirable state, that we tend to achieve.

DoT = SUM(NL_i*LT_i) / N

DoT … Degree of Trust
NL_i … amount of locked tokens in a batch
LT_i … remaining locking period for this batch
N … all tokens in existence

The distribution and other mechanisms will take into consideration an amount of currently locked tokens. Quantitative easing with distributing either free or locked tokens will counteract falling currency supply and prevent induced deflation.

Hope you enjoyed reading...
...and... happy Valentines day 

P.S.: We promised on Slack to post about "Video script" task. The task is prepared, but it was not seen and approved by all dev-team members yet. Expect it on Thursdays post.

If you read some posts back,this coin is solo POS now!
I think mining end in may 2016!
Now only solo pos!

I have the same problem with the CP wallet today. Password works for backup though, but not for sending. Any ideas?

Thanks

Hello!

Can somebody please tell me on which pool you guys are mining ?
Asking because the official pool (https://pool.creditbit.org/) seems to be down...

Thank you!

Hi,
anyone any suggestions on how to renew or redefine a password on the creditpay wallet?
I have written it down, but it seemed that my thumb was to thick when i first entered it into the wallet.

Now I can´t send any creditbit to anywhere...
Looks like i sadly killed some coins?
thx.
t.

Thanks muchly for the welcome gobbi!


How does one get an invite to the Slack team LowByter?

Join us more at slack:

creditbit2.slack.com

NIce to have new fans of Creditbit, VanAllen you are welcome. Creditbit is getting bigger and soon we are moving on ethereum platform with new features.

Bitcoin Rush on Creditbit 2.0 now 11,200+ views!!! Community is growing rapidly. Make sure everybody is seeing it, thanks.

>>> https://vid.me/AHLF

new good read.


http://www.forexminute.com/creditbit-updates-the-community-about-distribution-mechanism/

First post but long-time lurker of these forums. Just posting to introduce myself and say Hi

I'm a huge advocate of cryptocurrencies in general and have used/owned Bitcoin (and various other altcoins) for a number of years.

Been following CRBIT's development closely lately and I like the way this is going!

Yet another good article

http://www.fxpips.com/creditbit-seeks-community-trust-in-its-latest-forum-update/

Hey newbie, tell me where we can find you if you have 6000+ followers so we can follow you too.

I'm NEW CreditBit holder !!
I heard for CreditBit 3 days ago !!

A friend said for CreditBit (CRBIT) and a large possibility of rapid growth and
immediately yesterday and today bought a circa 100 000+ CRB ...

Tomorrow I will send a notice to my followers which have over 6000+ :-)

Take advantage of a great opportunity .. currently CRBIT - $ 0.26 ..
by the end of the month, minimum $ 1, and maybe a lot sooner ...

Since the beginning of the year 2017 so far .. CRBIT grew 3000%

After 03/08/2017 when CRBIT exceed the ETH platform and all other possibilities ...
they are expected rapid growth in the $ 5 - $ 10 ...

Good information is gold ...
Let's money work for you, not you for money ...

Good luck everyone ... 
 

Welcome to creditbit community!

Getting stronger...

Yeah Creditbit Dev team do a great job.
We all cant wait its all move to Ethereum platform.
Lets see what will happen with crbit in future. But i think only good coming .

Hi guys i am the new one on this site. I heard for creditbit two weeks ago, so I hope the dev do all this think, what I read on net.

Thanks for the video,it is great and it has alot of views which means comunitiy is big.Keep trading guys

you're very welcome DXB2017
CRBIT SHOW now 10,800+ views, make sure to support ur funds: https://vid.me/AHLF

also, MORE NEWS is coming soon, stay tuned and keep trading.