Topic: [ANN][QBC] Québecoin - X11 - DGW - (BITTREX) - Win/Mac/Linux Wallets - New - page 96. (Read 161843 times)

That's exactly the feeling and situation I want to avoid for people who believe in QBC. That's also why I'm denying random exchanges from adding us. So far I've had 3 exchanges approach me (apart from the official one, BITTREX), and I've refused all three until I check them out thoroughly. I don't want QBC owners/miners/investors/users to be at risk. That same principle applies to the market. Some people may think that they are better off with a low IPO and owning more coins. But that actually hinders the market performance of QBC because every investor would have to be responsible.

Let's say we have 10 investors sharing 210 000 QBC equally on a 10 BTC IPO. That's 21k each which is a huge amount compared to what a miner can expect to make with a good rig within a reasonable time frame. That sets a base price of 0.0000476 BTC per QBC. With the mining rate set up the way it is, a price of 0.002 BTC is actually very reasonable. But to reach that price you'd have to expect all investors to hold off on selling their coins when it hits 0.000467 for example - A 10x increase - or even lower. Irresponsible whales would hold down the price and QBC couldn't reach its potential as easily.

But if you have 100 investors sharing 210 000 QBC equally on a 100 BTC IPO, that's 2100 QBC each with a base price of 0.000476 this time around and the volatility is spread out a lot more evenly amongst all these people because not everyone intends to dump their share right away. That means the price can reach 0.002 or above way more easily. Instead of having a few investors making a profit and destabilizing the market with a lot of coins, you have a lot more investors, each one being able to profit but in a more reasonable manner while allowing the price to grow and a great market cap to be reached. With this example at around 0.002 you still have a 4x return and the coin at that price is actually priced fairly and not overpriced massively like SpainCoin was at 0.008.

I see why you're worried about that. The Aurora chart on Cryptsy looks like a real mess. Someone who bought in the excitement of the high (>0.1 BTC per AUR) is sitting on a 97-99% loss. That's what blue-sky excitement turning into real-world realism can do to a coin's price. The sad part is, AUR is really viable for its purpose. 

Well I made a few simple promises and I'm sticking to them, it shouldn't be hard but people tend to overpromise and underdeliver. I'll underpromise and overdeliver.



Hey for the moment we are 2, I'm the dev and I have a close friend/partner working on design and marketing as much as possible.

If you don't mind I'd like to know what IPO was painful for you? I saw that the cleanwatercoin devs made a massive mistake and cost every IPO investor a lot of money. Or is it something else?




It means a lot that that you recognize QBC as being a quality project. I've got a lot of chances to learn from other peoples mistakes and not make them so that's always good. It doesn't help AUR that some forum members had their sights set on hurting the project through targeted attacks of vulnerabilities.

As for the IPO, I said in a previous post that I have no expectations for a certain amount, the IPO is designed in a way where the best outcome for everyone (including me) is somewhere between 50 and 100 BTC approximately. With the number of IPO coins available and the mining rate of the network, this IPO range creates an equilibrium between the number of coins each investor has, the initial floor price, the profitability for investors and the amount of freedom it allows me in working on it full time as my only project.

If the IPO is too low, one investor could own too many coins and could be able to destabilize the market and the market price would be less stable downwards and I have less freedom in the amount of time I can spend working full time on it. If the IPO is too high (125 BTC+), then profitability, while still existing, drops for all investors. The sweet spot guarantees that QBC will attract lots of attention with a very fair initial market price and a great spotlight on marketcap websites, and that all investors have a fair share of the IPO with a great profit potential without being able to affect the market in a massive way.

What I'm hoping for is that the design of the IPO relative to all other factors allows it to find that equilibrium by itself, it's the way I planned it out.



Luckily, like I said just above, I can learn from the mistakes of others and avoid them completely before launch.



edit: I've also updated the IPO page at www.qbc.io/ipo , go check it out! As always let me know if you spot a mistake and I'll fix it ASAP.

To be fair, the time warp vulnerability is much less likely to occur in practice, and for a coin that has already been released it requires a hard fork to fix it.

Way to go. It's actions like that which show (or should show) everyone that QBC is a legitimate project. You've actually made yourself better than the Auroracoin dev, who dawdled with the fix for the KGW time-warp exploit. There's no telling how much his "above it all" approach hurt his coin, but I can't see how it helped. 


If the IPO doesn't raise what you hoped, that's only a small setback. A lot of the buzz and publicity for QBC in the early stages will come from people independently mining the coin - just as with Auroracoin. Also, the natural buzz from social media. None of these sources require your active involvement, nor should they because they're supposed to be organic. So, if you need to devote your time elsewhere, the only potential "hump" would be if there develops some unexpected technical glitch that you need to work on - but you've done quite a lot of testing and work in advance, so there shouldn't be the usual surprises   

JP,
how many people in your team pls?
just got a painful IPO from a shitcoin , then i find you . seems good.

This I why I invested. The coin hasn't launched yet and you are already on top of everything, good job!

I'm really anxious to get the mining launch as well but we'll definitely have a smoother launch this way.




April 18th , it's right under the big QBC logo!

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Just wanted to let you guys know that I'll be updating the QBC source and wallets to use the latest OpenSSL libraries with the fix for the Heartbleed exploit. Everything will be on the latest version at launch.

I'm also adding another investor the IPO page and will be updating shortly. We've crossed the 8 BTC line!

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Hmm did not find it in the OP, is there a release date ?

my gpu's are begging for the release date to be here now...I know why you had to extend it but also was sorta sad too lol.

Don't know which part but I'll presume you mean all of it! Thanks!

That is absolutely wonderful

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Yeah but it's not like she owes us an amazing flawless review, she seems cautious but optimistic and I like that.



He gets around and he got around, what a badass.

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I've some big news. I've gotten two investments in a row which I haven't published yet, our smallest investment and our biggest by far. I think it qualifies as being our first whale. 3 BTC in one shot. The other one is around 0.028 and it's from the girl who wrote the article!

Now the person who made the 3 BTC investment intends to remain private for the moment but will come forward in case of doubts, he's a junior member with over 200 posts. He also earned himself a can of maple syrup with an investment over 1 BTC. Additionally he mentioned that he knows what kind of responsibility comes with being a potential whale. I was really happy with that, because it means that he won't be the kind to dump a big number of coins and affect the market in a negative way.

So the IPO is now at almost 8 BTC and it feels like with this vote of confidence we are ready for liftoff. I'm immensely grateful for everyone who has read this thread and every post in it and made up their mind based on everything that was written. You're the kind of people I want in this IPO and in QBC, people who make up their own damn mind without listening to the noise.

I'll be updating the IPO page in a few minutes. www.qbc.io/ipo

Gotta love Clint. He gets around.

She got a few things right and a few things wrong. Mostly positive like you said and she's going to invest a bit so that's always good.

good news!

The girl who published the article about QBC also made an english podcast. She's got mixed feelings on a few aspects of crypto but overall positive about QBC and she also made a small investment which I will add to the pool!

http://circonference.ca/2014/04/circonference-english-companion-podcast-1/

Mentions start at 11 minutes but mostly after 16 minutes. She also seems to think that all cryptos will absolutely go through a pump and dump phase whereas a few good coins like Darkcoin have simply risen and stayed pretty stable by people who actually hold it because it's a quality coin.

We've got a first article up for QBC (French only though!) - So the bounty for first Québec article will have been taken. http://circonference.ca/2014/04/bonjour-quebecoin/

In other news I've been contacted by the "Xnigma" exchange asking to add QBC to their exchange on launch. I'll have to take a look into their exchange before taking a decision, although they are based in Québec, I still have to make sure they are trustworthy. So I'll keep you guys updated on that as well.

Here's an IPO update

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