Topic: [ANN][KiB] Kibweecoin | Proof-of-Contribution | Under rework - page 13. (Read 36975 times)

I removed 1 post here for troll attack

Hi !

You're all good ZyTReX
The practice will be easier than reading the theoretical part.



Kibwee.com is now live !

We are entering in the 2nd step of the pre-launch.

You can now connect to kibwee.com and use all the functionality and start to discover the console.
The website is live, but the coin isn't release yet, so no Rolls will happens.

If you won the free Shares giveaway, you must register before the coin launch, so I'll credit your account. Same for peoples with bounties pending (I'll contact you all by PM).
Else you can create an account right now.

It's up to you to buy Shares to be ready for the coin source code release. As soon as the Miners will start to work on the PoW, the PoC will follow the move naturally.
Don't forget to Activate the Contribution, it's disabled by default (you'll lose no Shares as no Rolls will happen).

What will happen on the Coin release ?

The first Roll will occur on block 280 only.
It's because the Coins need to reach the Maturity (220 blocks) and because the first sending happen on block 60.
After the block 280, we will have 1 Roll every 60 blocks during the 8 months of distribution.

The pages are updating by themselves, so you can stay online on "Account" and watch the progression.

If you have any questions, it's maybe better for you to ask them before the coin release !

Every 60 minutes the contributors get Coins (Block Time 1 minute)
All contributors get 472 Coins.

Now we assume that you have 28 Shares and I have 13. (we are alone in network for this example)
(You can buy shares after launch)

Your reward for block 60 in POC: 472:41 (41=all shares) = 11.51219512
You have 28 Shares: 11.51219512 * 28 (Your shares) = 322.34146341

322.34146341 is the reward that you get for Block 60

theoretically!!!! 

You can lose your shares. A post from Kib: https://bitcointalksearch.org/topic/m.7253957

Kib when I have said a false information say it

how POC works, i don't get it.

Then you dont understand POC.
What you think is the same in POW and POC?

SO BAD!

I think POW is POC!

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Rent some extra hashpower for the launch!  
http://www.miningrigrentals.com/register?ref=1729

I didn't receive pm
it's OK
I'll buy some shares later

Hi ZyTReX,
In the next future our main line are:
to make perfect the PoC by adding new stuff:
 - API to make able dev to create apps on the PoC
 - Ability to withdraw the Shares with a 'code' system (like the BTC-e Code)
 - Keep improving by listening the users

build around the coin. We will need a better well designed website to present the coin, a blockchain, charts, more exchanges.
When the PoC will be ready we will make it open source. The revolution won't be down as any other dev will able to use the system. We create the POC for all.


Hi McHammer,
The POC isn't a new algo as you don't have to resolve any maths to earn coins. The POC will work without any need to keep your wallet and computer turned on as a server will manage everything for you.

console looks nice, logo looks nice, new algo always nice
im just to dump/ to understand the new algo 
ill fallow this thread ...

A question: What are future projekts for this coin? After 8 months is POW/POC down, the revolution (POC) is down.

It's hard to predict.
I think if you're 100% continuous, you'll make less. You may have to stop the Contribution on bad periods.

Like a miner mining a Coin, if he want to max the profit, he will have to leave it on non profitable period, then come back when it start to be profitable again.

Interesting but please use a better name. If you want the coin to be mass adopted keep it simple.

The dices decided the winners for the pre-launch Shares giveaway !

If you didn't received any Private Messages... I'm sorry you didn't won

I hope you'll be part anyway of the project !

Thanks for the illustration Kib. I think I understand. From a layman's perspective, on an average, just wanted to know if I will win or lose if I am continuously,  actively and always contributing?

Update the OP:

• Added Greek translation: https://bitcointalksearch.org/topic/anak-kibweecoin-developers-proof-of-contribution-648416
• Added Pool: http://kib.coin-miners.info/

We are writing the paper and thinking of the future plans for KiB.
At the moment we minding to split the earned BTC in 3 parts:

• Refund us for the PoC Server cost
• Fund some project/devs working for the Kibweecoin
• A part will be used to, as you said, pump the coin

The paper will expose our projects, you'll have more details and numbers on it. We have no dates yet for this paper release, but during this time we have up to hear the community suggestions ! I think we can pick-up great ideas here.

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Sorry if I missed the answer to my question but what will you do with the BTC collected from people who buy shares? Pure profit for you?

May I suggest that you take those bitcoins to buy Kibweecoins in the market? Then add the KiB to the PoC reward. If you do that it will put a buy pressure in the exchange, keeping the price higher (like multipools do for many PoS coins). Also it will increase the reward, an incentive to purchase shares.

Don't bother...there is no solution and there is no such thing as a fair distribution.

No matter what algo or way of mining , it won't help a guy that has no computer or that didn't heard of your coin until it's too late and he won't get the same share as the first adopters

Coins are not meant to be a re-distribution of wealth.

Better focus of usage and ease of use.

I'll start to send private messages to the winners in about 1 hour, when all messages are sent I'll tell it here. If you don't receive any message it mean you can't claim the free Shares.


No, anyone can get Shares.


Not sure to understand the question, tell me if my reply isn't well !

You are losing Shares only if you are Active. If your contribution is turned off, you don't lose any Share.
Nobody taking your Shares, they are just disappearing from the system.

The "Share dump" mechanics is a fact to stabilize the market and also to keep the PoC fair compared to the PoW. We can compare Shares for the Contributors with Electricity/Hardware for the Miners.
Every Roll, every Active Contributors losing 1 Share. The more Active Contributors we have, the higher is the dump.

I made a small scheme to explain this. It's a very very simplified example just to understand why Shares are dumping to stabilize the market. With this scheme you can change the Shares for the Hashrate to compare with mining.

http://i.imgur.com/fjk2jMv.png

TL;DR
1. You don't lose Shares if you turn off the Contribution
2. The Share dump is to keep an equilibrium between the PoW and PoC
3. The Share dump is also to stabilize the market


I would say it's the "socialist" PoW, and not "socialist" PoS Yes indeed it is.
It's also indeed not a new Algo.
Algos can't solve the issue I'm trying to fix with the Altcoins: allowing "mining" for all. CPU miners tried but failed because of bots. Game mining too. A good bot will always own an human.