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Topic: [ANN][QBC] Québecoin - X11 - DGW - (BITTREX) - Win/Mac/Linux Wallets - New - page 99. (Read 161852 times)

hero member
Activity: 896
Merit: 1000
Although I wouldn't be worried about people stealing health insurance, since it is free, I was wondering more in regard to identity fraud there. Again, I am not sure how common it is for people to share their numbers or not. If it was like a social security number here in the US, it's certainly not something to freely give out. But if everyone just shares their numbers already, then it does seem safe.

Again though, how will you verify it's a real number? Or a real card?

And as far as the giveaway, I didn't mean the entire giveaway all at once, just a small amount, but to everyone in Quebec. Realistically only a small percentage would claim it anyway.

It's a bit of the chicken and egg thing... nobody knows about the coin, so it makes no sense to give it away at first. But by not giving it away, nobody knows about the coin...

We have social security numbers here, you don't give those to anyone because you'd risk identity fraud the same as in the US. Health insurance cards are unique but not sensitive information. Verifying them could be done in various ways such as simply having them scanned and submitted.

There's a post a bit earlier that I made mentioning the technology adoption cycle. It's useless to give everyone in Québec some coins, even a smaller amount. It will still be mostly the same people getting them (the early adopters) and that's why targeted giveaways are a smarter way to go about it.




On the OP, it still says "Premine : 21 Million - 50% for the population of Québec".

We would like ZERO premine, and 50% of the mined to be distributed slowly to the developers and intended parties. That is a long term process.

Yeah that's what I understood from your post. But that brings zero advantages and only additional complications. Miners get less coins, I have to keep up with controlling the new arrival of coins all the time, they can't be secured 100% since I'd have to go deposit them all the time in cold storage at the bank with a trusted third party. The premine exists to keep the coins in Québec and for a slow distribution. There won't be a flood of coins in the market we're explicitly avoiding that. My work is multiplied by not having a premine and instead using a distribution like you're suggesting without gaining any advantage. It's still a long term process as that's the way it's designed to be anyways.

The reason for the gradual release of the mined coins to you for distribution is that we do not trust a person. The security and integrity of the coin depends on the implementation of a proper system.
sr. member
Activity: 483
Merit: 250
this country coin seems a little different from others.
full member
Activity: 196
Merit: 100
hero member
Activity: 532
Merit: 500
I don't think it matters right now how the airdrop is done anyway. For the moment you've gotta concentrate on a successful launch for miners.
legendary
Activity: 924
Merit: 1000
As for the cards there are a few methods you can implement to prevent fraud but you won't ever be able to eliminate it completely. That doesn't really matter since it's only 1/5 of the coins every airdrop, which means you'll be working hard without a big profit margin if you try a scam. Associating a card with a valid facebook account can be one option, then you move on to adding a second form of identification like a drivers license for example and you can do live giveaways as well as part of the airdrop. You get the word out directly in the heart of Montréal for exemple and get some good press coverage while doing it.

Do you know anyone who works in a hospital or clinic? 100% sure that there's already standard tech for verifying health card numbers: you just have to have access to it.
member
Activity: 112
Merit: 10


We have social security numbers here, you don't give those to anyone because you'd risk identity fraud the same as in the US. Health insurance cards are unique but not sensitive information. Verifying them could be done in various ways such as simply having them scanned and submitted.

There's a post a bit earlier that I made mentioning the technology adoption cycle. It's useless to give everyone in Québec some coins, even a smaller amount. It will still be mostly the same people getting them (the early adopters) and that's why targeted giveaways are a smarter way to go about it.




As for distribution, you may be right. Although I think distribution is up to around 8-9% in Iceland and there are reports of people using the coins already to buy stuff. If the news gets out, it'd be more than just early adopters claiming coins. But it could just be Iceland was a fluke there... they did get a lot of press,  nationally.

The scan/submit thing I assumed is what you meant for the cards. But my question is, how will you know the card and number is actually valid? It's like... pretend I was a dev in the US and accepted driver licenses from a specific state only. It's not hard at all for someone to just grab an image off the internet, do a bit of photoshop, stick some numbers in .. and I'm a citizen from wherever.

Is there a way for you to verify if a number is a real number or if someone is faking their ID?

You have to remember that Iceland has a population of around 300 000 people. That would mean that approx. 3.75% of Québecers need to try it or adopt it to have an equivalent number. Auroracoin is pretty much the only nation-coin where a fast airdrop makes a bit of sense.

As for the cards there are a few methods you can implement to prevent fraud but you won't ever be able to eliminate it completely. That doesn't really matter since it's only 1/5 of the coins every airdrop, which means you'll be working hard without a big profit margin if you try a scam. Associating a card with a valid facebook account can be one option, then you move on to adding a second form of identification like a drivers license for example and you can do live giveaways as well as part of the airdrop. You get the word out directly in the heart of Montréal for exemple and get some good press coverage while doing it.
hero member
Activity: 1204
Merit: 509


We have social security numbers here, you don't give those to anyone because you'd risk identity fraud the same as in the US. Health insurance cards are unique but not sensitive information. Verifying them could be done in various ways such as simply having them scanned and submitted.

There's a post a bit earlier that I made mentioning the technology adoption cycle. It's useless to give everyone in Québec some coins, even a smaller amount. It will still be mostly the same people getting them (the early adopters) and that's why targeted giveaways are a smarter way to go about it.




As for distribution, you may be right. Although I think distribution is up to around 8-9% in Iceland and there are reports of people using the coins already to buy stuff. If the news gets out, it'd be more than just early adopters claiming coins. But it could just be Iceland was a fluke there... they did get a lot of press,  nationally.

The scan/submit thing I assumed is what you meant for the cards. But my question is, how will you know the card and number is actually valid? It's like... pretend I was a dev in the US and accepted driver licenses from a specific state only. It's not hard at all for someone to just grab an image off the internet, do a bit of photoshop, stick some numbers in .. and I'm a citizen from wherever.

Is there a way for you to verify if a number is a real number or if someone is faking their ID?
member
Activity: 112
Merit: 10
Although I wouldn't be worried about people stealing health insurance, since it is free, I was wondering more in regard to identity fraud there. Again, I am not sure how common it is for people to share their numbers or not. If it was like a social security number here in the US, it's certainly not something to freely give out. But if everyone just shares their numbers already, then it does seem safe.

Again though, how will you verify it's a real number? Or a real card?

And as far as the giveaway, I didn't mean the entire giveaway all at once, just a small amount, but to everyone in Quebec. Realistically only a small percentage would claim it anyway.

It's a bit of the chicken and egg thing... nobody knows about the coin, so it makes no sense to give it away at first. But by not giving it away, nobody knows about the coin...

We have social security numbers here, you don't give those to anyone because you'd risk identity fraud the same as in the US. Health insurance cards are unique but not sensitive information. Verifying them could be done in various ways such as simply having them scanned and submitted.

There's a post a bit earlier that I made mentioning the technology adoption cycle. It's useless to give everyone in Québec some coins, even a smaller amount. It will still be mostly the same people getting them (the early adopters) and that's why targeted giveaways are a smarter way to go about it.




On the OP, it still says "Premine : 21 Million - 50% for the population of Québec".

We would like ZERO premine, and 50% of the mined to be distributed slowly to the developers and intended parties. That is a long term process.

Yeah that's what I understood from your post. But that brings zero advantages and only additional complications. Miners get less coins, I have to keep up with controlling the new arrival of coins all the time, they can't be secured 100% since I'd have to go deposit them all the time in cold storage at the bank with a trusted third party. The premine exists to keep the coins in Québec and for a slow distribution. There won't be a flood of coins in the market we're explicitly avoiding that. My work is multiplied by not having a premine and instead using a distribution like you're suggesting without gaining any advantage. It's still a long term process as that's the way it's designed to be anyways.
hero member
Activity: 896
Merit: 1000

I'll have the initial master wallet with a bit less than 21 000 000 QBC. We can split that up into 5 different wallets, encrypted, backed up to two forms of physical media. A bank in Montréal acts as a trusted third party and doesn't allow access to the vault before a certain moment in time. Fool proof method + the fact that I actually would never dream of touching the premine for illegitimate reasons should be good enough for anyone.

It would be better that we have zero premine. When the coin is launched and mined, a percentage of the coins will be sent to the 5 different wallets you mentioned. As the distribution, payment to development are long term processes, not a large amount of coins are required on day 1.

Not all the premined coins will be lost in one go if the wallets are breached. This will also prevent a large dump of coins soon after the launch by the claimant. If there is not enough mined coins, then the claimants will have to wait for the coins to be available.

The slow release of the coins is beneficial to the long term health of the coin.

However, this process will give the developers less control of the coins, they may not like it.


If you read through this thread you'll see that a slow release is exactly what's planned. I'm the dev and I have no problem with giving up control of the premined coins so that they can't be spent or stolen. I'm the first one who suggested it actually. The coins will stored in a bank vault and not touched until the first airdrop period. QBC will stay rare and valuable except for a few smaller scale giveaways as a promotional tools. The premine is here to stay though as I intend that most of the coins actually stay within Québec, for Québecers.

edit: Also I think you were suggesting taking a percentage from miners instead of a premine but that's really equivalent to having a premine anyway but with way more complications.

On the OP, it still says "Premine : 21 Million - 50% for the population of Québec".

We would like ZERO premine, and 50% of the mined to be distributed slowly to the developers and intended parties. That is a long term process.
hero member
Activity: 1204
Merit: 509
Although I wouldn't be worried about people stealing health insurance, since it is free, I was wondering more in regard to identity fraud there. Again, I am not sure how common it is for people to share their numbers or not. If it was like a social security number here in the US, it's certainly not something to freely give out. But if everyone just shares their numbers already, then it does seem safe.

Again though, how will you verify it's a real number? Or a real card?

And as far as the giveaway, I didn't mean the entire giveaway all at once, just a small amount, but to everyone in Quebec. Realistically only a small percentage would claim it anyway.

It's a bit of the chicken and egg thing... nobody knows about the coin, so it makes no sense to give it away at first. But by not giving it away, nobody knows about the coin...
member
Activity: 112
Merit: 10





Québecoin (After 4 Days)


Current IPO status : 9 Investors own 210 000 QBC (100% of all IPO coins) - Total invested : 2.52123595
 BTC


QBC Summary - Proof of Work : X11 - Difficulty Adjustment : Dark Gravity Wave -  Total Coins : 42 Million - Block reward : 26 QBC - Block time : 2.5 Minutes





For all miners and investors - QBC will not be devalued artificially because of a fast production rate or quick airdrop. QBC generates about half of something like Vertcoin which means each coin will be retain value better and be worth more. We have a delayed distribution/airdrop with release in small giveaways as promotional tools initially and natural adoption by the people of Québec at the beginning. The market won't be diluted by premine coins

[/quote]
member
Activity: 112
Merit: 10

I'll have the initial master wallet with a bit less than 21 000 000 QBC. We can split that up into 5 different wallets, encrypted, backed up to two forms of physical media. A bank in Montréal acts as a trusted third party and doesn't allow access to the vault before a certain moment in time. Fool proof method + the fact that I actually would never dream of touching the premine for illegitimate reasons should be good enough for anyone.

It would be better that we have zero premine. When the coin is launched and mined, a percentage of the coins will be sent to the 5 different wallets you mentioned. As the distribution, payment to development are long term processes, not a large amount of coins are required on day 1.

Not all the premined coins will be lost in one go if the wallets are breached. This will also prevent a large dump of coins soon after the launch by the claimant. If there is not enough mined coins, then the claimants will have to wait for the coins to be available.

The slow release of the coins is beneficial to the long term health of the coin.

However, this process will give the developers less control of the coins, they may not like it.


If you read through this thread you'll see that a slow release is exactly what's planned. I'm the dev and I have no problem with giving up control of the premined coins so that they can't be spent or stolen. I'm the first one who suggested it actually. The coins will stored in a bank vault and not touched until the first airdrop period. QBC will stay rare and valuable except for a few smaller scale giveaways as a promotional tools. The premine is here to stay though as I intend that most of the coins actually stay within Québec, for Québecers.

edit: Also I think you were suggesting taking a percentage from miners instead of a premine but that's really equivalent to having a premine anyway but with way more complications.
hero member
Activity: 896
Merit: 1000

I'll have the initial master wallet with a bit less than 21 000 000 QBC. We can split that up into 5 different wallets, encrypted, backed up to two forms of physical media. A bank in Montréal acts as a trusted third party and doesn't allow access to the vault before a certain moment in time. Fool proof method + the fact that I actually would never dream of touching the premine for illegitimate reasons should be good enough for anyone.

It would be better that we have zero premine. When the coin is launched and mined, a percentage of the coins will be sent to the 5 different wallets you mentioned. As the distribution, payment to development are long term processes, not a large amount of coins are required on day 1.

Not all the premined coins will be lost in one go if the wallets are breached. This will also prevent a large dump of coins soon after the launch by the claimant. If there is not enough mined coins, then the claimants will have to wait for the coins to be available.

The slow release of the coins is beneficial to the long term health of the coin.

However, this process will give the developers less control of the coins, they may not like it.
member
Activity: 112
Merit: 10
Hmm... I'm not aware if health insurance numbers in Canada is sensitive info or not. I just know in the US, I probably wouldn't want to go around giving my health insurance number out. I'd expect to find myself with a dozen prescriptions charged to me, and weird doctor bills showing up.

The small distribution to select groups may help, but I still think a small distribution to everyone in Quebec would help more so. The thing is, the logical danger of a big airdrop all at once is that people cash them out. Yet if you go with a smallish amount to everyone, there isn't nearly as big a danger. And you get the benefits of more publicity and possibly quicker adoption. Give someone $100 worth of coins and they will cash out. Give someone $5-$10 worth of coins, and they probably just hold onto them, or consider how they can be used for something. 





I can confirm that our health insurance card is commonly used for identification here in Québec. Honestly, I'm not really worried about identifying Quebecers.

Yes like Brunic just mentioned, RAMQ health insurance cards are used for identification. The reason why we're not worried is because health insurance is free for everyone and universal. No one will be 'charging' anything to your card since the card is just proof of residence basically. All extra costs are out of pocket except if you habe additional insurance provided by work and we won't have those numbers of course.


It might work then. And health insurance there is very different than in the US, so it may be much safer. Although I do wonder how the dev will know if a health insurance card number is valid or not.

I just can't justify doing an airdrop to everyone in Québec right away. If 0.1% of all Québecers have heard about QBC in two or three months that's already a big step. I don't think 0.1% of people in Spain know about SpainCoin, and yet they're still doing an airdrop right away. It's a waste of coins and an insult to miners and investors, those are the people you have to think about in the beginning, they are the initial driving force behind your coin. Auroracoin was abandoned by miners pretty quickly after their incredible crash and that resulted in an attack on the network as well. We'll start with small giveaways in major cities like Montréal and Québec City for example and then spread from there. People are way too short sighted about cryptos right now and I'm thinking long term.

hero member
Activity: 1204
Merit: 509

I can confirm that our health insurance card is commonly used for identification here in Québec. Honestly, I'm not really worried about identifying Quebecers.

It might work then. And health insurance there is very different than in the US, so it may be much safer. Although I do wonder how the dev will know if a health insurance card number is valid or not.
hero member
Activity: 632
Merit: 500
Hmm... I'm not aware if health insurance numbers in Canada is sensitive info or not. I just know in the US, I probably wouldn't want to go around giving my health insurance number out. I'd expect to find myself with a dozen prescriptions charged to me, and weird doctor bills showing up.

The small distribution to select groups may help, but I still think a small distribution to everyone in Quebec would help more so. The thing is, the logical danger of a big airdrop all at once is that people cash them out. Yet if you go with a smallish amount to everyone, there isn't nearly as big a danger. And you get the benefits of more publicity and possibly quicker adoption. Give someone $100 worth of coins and they will cash out. Give someone $5-$10 worth of coins, and they probably just hold onto them, or consider how they can be used for something. 



I can confirm that our health insurance card is commonly used for identification here in Québec. Honestly, I'm not really worried about identifying Quebecers.
hero member
Activity: 1204
Merit: 509
Hmm... I'm not aware if health insurance numbers in Canada is sensitive info or not. I just know in the US, I probably wouldn't want to go around giving my health insurance number out. I'd expect to find myself with a dozen prescriptions charged to me, and weird doctor bills showing up.

The small distribution to select groups may help, but I still think a small distribution to everyone in Quebec would help more so. The thing is, the logical danger of a big airdrop all at once is that people cash them out. Yet if you go with a smallish amount to everyone, there isn't nearly as big a danger. And you get the benefits of more publicity and possibly quicker adoption. Give someone $100 worth of coins and they will cash out. Give someone $5-$10 worth of coins, and they probably just hold onto them, or consider how they can be used for something. 

member
Activity: 112
Merit: 10
Quote
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 (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.


I have a couple of airdrop questions, which may have been answered already and I missed it... so apologies if it's a repeat question.

Have you mentioned how you will actually do the airdrop? Some automated ID system/check type of system? Manually checking each ID (which I would think impossible)? Facebook/social media verification? Something else?

Having a 3rd party hold the premine would help a lot to assuage fears, but I definitely wouldn't trust anyone upon this site, hero members, even those in good standing, to be that 3rd party. The bank idea could work possibly, although there is no real way for anyone to verify the bank is holding the cold wallets (that I know of, anyway).

I do disagree with the payout rate, but that is of course your call. Will there be at least one initial small airdrop, before the 2 year delay, or is it nothing at all for 2 years? Slow distribution makes sense, but if too slow, you really run the risk of the coin dying before anyone gets it. Then the fears of a dumped premine become even greater. If it was me, I'd go with an initial airdrop, then 6 month intervals, until it's used up. If you plan 5 airdrops, that gets you to 2.5 years. You could also do more than 5 drops, and spread it out a bit more. Crypto time is like dog years ... 2.5 years is like 10+ years for most other things.

By doing some type of airdrop initially, you also help the coin in another way ... trust. People can then see you can actually pull of the drop, and gauge local interest in the coin. It also helps with news coverage, as it may not be quite as popular news-wise (or with people) to have a regional crypto giveaway that takes place 2 years from now.


Yeah I've mentioned it already before. The ideal way is a combination of our health insurance card (RAMQ) which is only for residents of Québec and a form of social media like facebook. The info is not very sensitive and everyone has a unique number and mixed with facebook or other methods can be pretty fool proof as far as distribution goes. We'll build a section on the website for claiming the coins and try to automate it as much as possible.

For the 3rd party, I guess no one is 100% trustable but we can definitely create a way in which everyone involved knows the others don't hold a copy of the premine wallets in their possession. The bank holds it and gets instructions to not release it before a specific date, the trustees on the other hand hold the passwords. All of this is already more than what ALL other nation coins do. Every other dev has control of the premine wallets. There's already been one case of fraud with Aphroditecoin and that's why I'm so motivated to make sure people feel safe. These badly made clone nation coins have given us all a bad reputation and now I have to fight harder to provide integrity.

Like I said before there will definitely be a small initial distribution to select groups of early adopters in Québec. It won't be a significant amount but enough to play around with the concept. Additionally any coins I mine in the beginning will be 100% donated. Most people here are really thinking too much in the short term, yes crypto time is perceived as being dog years but in reality good things take time and I'm planning for the future where BTC is still around in ten years as the gold standard worth over 10 000$ per BTC (an example). There's no need to waste tons of coins in the beginning, 99% of people haven't heard about them and those who have get a ton of coins. The market gets flooded and miners lose interest when value goes down, investors are unhappy and the idea as a whole kind of fails since people associate monetary value to success in the crypto world.

The drop really isn't the hard part, it's getting people genuinely curious about it, enough to tell their friends. Which means that in 2 years when the first real airdrop happens (for 1/5 of the premine coins), there are already stores available which accept QBC and those who haven't gotten some already can get a share. In 2 years there will be approx 10 million mined coins and we will add 4.2 million to the market. That's a great ratio and if people actually have places to use them, they'll be less likely to dump them for bitcoin as they will with Auroracoin or Spaincoin or whatever.
hero member
Activity: 1204
Merit: 509
Quote
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 (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.


I have a couple of airdrop questions, which may have been answered already and I missed it... so apologies if it's a repeat question.

Have you mentioned how you will actually do the airdrop? Some automated ID system/check type of system? Manually checking each ID (which I would think impossible)? Facebook/social media verification? Something else?

Having a 3rd party hold the premine would help a lot to assuage fears, but I definitely wouldn't trust anyone upon this site, hero members, even those in good standing, to be that 3rd party. The bank idea could work possibly, although there is no real way for anyone to verify the bank is holding the cold wallets (that I know of, anyway).

I do disagree with the payout rate, but that is of course your call. Will there be at least one initial small airdrop, before the 2 year delay, or is it nothing at all for 2 years? Slow distribution makes sense, but if too slow, you really run the risk of the coin dying before anyone gets it. Then the fears of a dumped premine become even greater. If it was me, I'd go with an initial airdrop, then 6 month intervals, until it's used up. If you plan 5 airdrops, that gets you to 2.5 years. You could also do more than 5 drops, and spread it out a bit more. Crypto time is like dog years ... 2.5 years is like 10+ years for most other things.

By doing some type of airdrop initially, you also help the coin in another way ... trust. People can then see you can actually pull of the drop, and gauge local interest in the coin. It also helps with news coverage, as it may not be quite as popular news-wise (or with people) to have a regional crypto giveaway that takes place 2 years from now.
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