Topic: [ANN][KiB] Kibweecoin | Proof-of-Contribution | Under rework - page 17. (Read 37030 times)

launch date??

POC = a new IPO approach?

Spread the hash! we could use a bit more power here!

http://kib.minerpools.com

Thanks.I always have too many questions,sorry！
Here again, how to keep my shares active？keep my wallet open？or？

Anybody can  become Contributor and how is that posoble???

i will mine it

when the launch?

http://kib.hashlink.eu
Pool is open for Pre-Registration

watching

in a short paragraph, what is it that we should be in awe about this ?

oh，i am interested，and can u make it easily to know？

I reserve spanish translation 

The PoC receive 472 KiB every 60 Blocks.
All Contributors owning Shares will receive KiB, every Rolls (= 60 Blocks).
If I'm saying that the Shares cap is 47.200.000.000, this is because: 472 KiB / 47.200.000.000 = 1 SatoKiB. If we go over this number of Share, the system will not able to feed all the Contributors.
But forget this limit, it's just not possible to reach it: consider the number of Shares as unlimited. To reach this cap, we will need, for example, 100.000 Contribs owning 47.200 Shares each, while each Contribs losing 1 Share every Roll. Not possible within 8 months.

The Share cap isn't relevant. The important stuff is the Total of Active Shares.
If we have 100 Active Shares, and you own only 1, it's like someone with 1GH/s dealing against a network of 100GH/s. But unlike mining, even if you have 1 Share against 100, you'll receive Coins anyway (1 * (472 / 100) = 4.72).

Keep questionning if something isn't clear, I'll glad to answer
The PoC will easier to understand when you'll able to try it live.

I wonder what will you take to support the potential marketcap of your coins from POC(NOT including POW and POS) ?
 47.200.000.000   * 0.0001BTC/Share  =4,720,000 BTC

Haha why not

Okay, I heard you about the X11 to X13.

But I'm not sure to switch for X13.

The Proof-of-Contribution is all new, I explain why I think the FPGAs are probably good, and compatible with this system.

At the moment most coins with a X11 algorithm are just stuck and burned by the FPGAs, if you don't have a bigga hashrate you have no way to compete, no alternatives. Your only chance to get some coins is to buy them on an exchange, participate to giveaway, etc... Yes, the PoW distribution is unfair. The PoS distribution is often unfair too for many reasons. It's always the faster who earn the more.

On the other side, FPGA are good to secure the network, it's harder for an entity to make a 51% attack as the global network hashrate will be high.

The PoC is an alternative to the mining, creating a simulation of the mining that require 0% premine ! Be a Contributor is like to be a miner, but with different rules on the distribution.
The PoC flow will follow the PoW rhythm. If the PoW perform well, the PoC too.

For the first time, all the peoples unable to mine, because they don't have the hardware, will "virtually" able to do it. Even with the worst computer ever you are 100% sure to earn coins through the PoC.

Even if I switch to X13, all lot of peoples won't be able to mine.

http://i.imgur.com/2YArXtS.png

As you see the PoW will generate ~2.5x less coins than the PoC.
We did it because we think, on the altcoin eco-system, we have more peoples unable to mine than people who can mine.

I don't want to screw the miners, and I don't want to screw the non miners.

EDIT:
I'll handle the poolers request soon don't worry


You'll able to buy Shares when the PoC Console will be ready (in ~ a week).
On the console, all the stats will be available (total existing shares, estimation of your reward on the next roll, etc...), so you can check is they Contribution is profitable or not.

Google translation. The words are very confused. Do not send any coin to this guy.

Hashhot Pool  http://kib.hashhot.com.   Please add it to OP.

I'm interested,how to buy shares?And,you got the estimated number of the shares?

Or it is better to make it X15 or X17 

yeah, agree.

+1000000000

x11 is now over