Topic: [ANN][QBC] Québecoin - X11 - DGW - (BITTREX) - Win/Mac/Linux Wallets - New - page 110. (Read 161852 times)

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I'm very happy to introduce something very special to the world today. First of all, if you've never heard about Québec before, here's a quick introduction. Québec is a province within Canada (if you've never heard about Canada... Wow, I'm so sorry). In addition to being a province, in 2006 we were recognized by the government of Canada as being our own nation. That means that they recognize that we are united by a common history, culture and language and are a bunch of weirdos apart from Canada but still a part of Canada. We are proud of our history and our way of doing things and even without realizing it, you may have come in contact with many things that were created in Québec.

Have you ever ate Poutine, a heavenly artery-clogging gravy drenched dish with fries and cheese curds? That's us. Have you ever listened to artists like Arcade Fire, Céline Dion and Simple Plan? That's us. Have you ever ridden a train ? Chances are, that's us with Bombardier. Have you ever played a video game made by Ubisoft Montréal, like the Assassins Creed series? That's us. Have you ever seen a Cirque du Soleil show? That's also us! Although we are barely 8 million people, we have a tremendous influence on the world in so many ways. We are in love with technology and love to stay up to date with the latest developments.

Everything we have is the result of hard work and dedication and although we have a lot of flaws as well, as a nation, we are always trying to better ourselves. This is why I created Québecoin. We have a lot of things to call our own, but we don't have our own currency. Starting April 18th 2014 - That won't be the case anymore. But enough about us. Let me show you what's under the hood.

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2.5 minute block time

26 coins per block

Subsidy halving at 420480 blocks (~2 years)

Total coins : 42 Million

Premine : 21 Million - 50% for the population of Québec

IPO : 1% of the 50% Premine (210k QBC) (0.5% of the total)

Bounties : 0.1% of the 50% Premine (21k QBC) (0.05% of the total)

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If you take a look at other country-coins you'll notice a deserted wasteland of scrypt and kgw. Scrypt ASICs are here, KGW is outdated and vulnerable to attacks. Why does a country-coin have to be a bad clone? Québec is at the forefront of technology - Québecoin will do the same thing. Pour one out for the homies still mining scrypt this summer.

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People are saying that, now that scrypt asics are here, it's time for X11. It was time for X11 before that, but only now are people starting to realize it. X11 is the definite choice for GPU (and CPU) miners right now and this summer especially. Your graphics cards consume 30-50% less electricity and with that comes a heat reduction in the same range. There's no reason to be mining scrypt and shortening the life of your cards! Additionally, X11's ASIC resistance is on the top of the charts. Creating 11 different chips for each algorithm is complete nonsense from a production and cost perspective. I'd like to say we had a tough decision in choosing X11 but the rest of the algos aren't even in the same league.






DGW is currently the best difficulty adjustment algorithm available. It fixes the KGW timewarp exploit and allows a very accurate difficulty adjustment. X11 multipools will soon be a reality and hashrate manipulation will be easily prevented with DGW. Once again, there's simply no alternative if you want the best.

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I absolutely have to give credit where credit is due. Both X11 and DGW are the best solutions out there right now and they are the creation of one man, Evan Duffield, the Darkcoin developer. I've read through almost the entire Darkcoin thread and I was humbled by his dedication and professionalism. Whenever there was a problem, shortly followed a solution. Whenever there was a question, there was an answer. Darkcoin is one of the few coins with a dedicated full time developer like Evan and the entire crypto community is in his debt. He is continually advancing the entire field and he seems incredibly passionate about it. He is my inspiration in what it takes to be a cryptocurrency developer and I will try to follow in his footsteps. Thank you Evan.

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Recent airdrops have shown miners, investors and airdrop receivers that the value of the coin tends to drop sharply when it is 'dropped'. The coin is basically a newborn and they put it in the streets where it's not ready to face the world. Québecoin will be the first country-coin with a delayed distribution period. We will distribute one fifth of the premine at every block reward halving and at the end of the mining period (2 years), which means it will take place 5 times in 10 years. This allows QBC to grow naturally at a steady rate and be adopted by the population of Québec on a voluntary basis. This also means that miners and investors won't be facing artificial drops in value. We think it's a win-win all around.

April 8th edit : A few doubts about this distribution method have been raised in the thread and were answered in detail. The reality of the situation is that 99% of nation coins aren't well thought out. A rapid airdrop only makes sense for very small populations, Auroracoin being a good example, and even with AUR there was a sharp loss in value after the airdrop. All other nation-coins are mostly cheap clones or scams (it's true) (spain/germany/greece/aphrodite/maple), the majority in existence right now were created by the same group of shady developers wanting to profit from the concept. By doing that they have tarnished the reputation of all nation coins. They bascially spew out these coins and have no intention of making them work.

They copied Auroracoins distribution method but for populations ranging in the millions (Iceland has only around 300k). There is no reason to proceed with such rapid airdrops, 99% of the population has no idea that a cryptocurrency was made for them and a 99% of those 99% have no idea what a cryptocurrency even is or how it works. They're basically asking you to mine a coin which for wich the market will be flooded with millions of coins once they release their premine for the population. And once that premine is released it's a race to who will dump the most since the currency itself is useless and no infrastructure has been built to accommodate it.

Québecoin doesn't work like that. We fully intend to be the first real nation coin with an actual chance of working. There's always an adoption cycle for new technologies and we want to follow that path to give ourselves the best chances of success.


This means that we'll start by targeted giveaways in small amounts to innovators, people who know about cryptocurrencies and are likely to tell their friends about it and explain how it works. These are the people who will spread the word initially. Those are the people who help bridge the "chasm" shown in the graph by bridging innovators and early adopters. We'll promote the coin in Québec and try to gain acceptance with a variety of stores in the first year or two so that when the first airdrop occurs, people will actually have places to use their QBC and will know a lot about it. Those who were curious but didn't make a move will get to try it as well. You cannot expect to make people adopt a new alternative currency in a few months, it's a matter of years and building a brand people can identify with.

What does this mean for you, a non-Québecer? It means you can invest in QBC and mine it without fearing crazy drops in value. It means that when people say hold your coin, they're not trying to dupe you into holding while they profit, they actually mean hey, this coin is going somewhere. Short term there's always a spike in value but the mining and IPO distribution has been really thought out and the coin will be rare for a long time and keep it's value like no other nation coin can dream of. Take a look at the mining distribution graphs posted throughout the thread to get a feel for how QBC is distributed. It's half as fast as something like Vertcoin for example, and 5 times slower than Spaincoin, a badly planned nation coin.

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