Topic: [ANN][UBQ] Ubiq - Smart Contracts For An Automated World - page 97. (Read 331629 times)

WOW! Ubiq fusion wallet is AMAZING!!1 

Ubiq is the best coin! Going to be 0.001 BTC soon 

Get in while you can noobs! 

I agree, the Ubiq development team has done a great job and we finally got Fusion GUI Wallet and the first token QWARK on the Ubiq network! Step by step our community steadily growing and goes to UBQ success. Now we wait for the results AI Toronto Conference in March.

UBIQ was a epic scam because JUMBUCKS is still alive!!! :-D lmfao

JT5SsPVxrS3hpwQ2tqzJCwjyL1QEGWuSnV
JT5SsPVxrS3hpwQ2tqzJCwjyL1QEGWuSnV
H8f9CTfUh+u3iFU4iLW8yMQKt/EhbmvccGcbG7gR+q/7Solhpnvr401AR+67fZ4s/8e6tb9NuiyY7FfoSaWwrlo=


JT5SsPVxrS3hpwQ2tqzJCwjyL1QEGWuSnV
can i has my UBQ?
H/QyObqBKRBaghwMEJC1hQ/J+PW/kz0epnhcX5P4Fc95UmfgwjS2lkXh49Tqz6vWO4COzpLyFhyubl4W+uBwYUE=

JT5SsPVxrS3hpwQ2tqzJCwjyL1QEGWuSnV
JT5SsPVxrS3hpwQ2tqzJCwjyL1QEGWuSnV
ILC7jKNFWArKrpspqp4cwv4cpGtaq+1vTzuvxnTzUlnFDr1GYRmbiPSYOVErz9BstuNS4xmvkS6sBGznZP6Fg4M=

https://chainz.cryptoid.info/jbs/address.dws?JT5SsPVxrS3hpwQ2tqzJCwjyL1QEGWuSnV.htm

At that price, which is not recommended to buy, you can lose a lot of money

https://chainz.cryptoid.info/jbs/#

 


#go-jembucks

Here's a link to the original  post above..shows the inflation chart
https://bitcointalksearch.org/topic/m.17590755

The Announcement page first post on page 1...has a lot of good info..in short its pow now. there is in my opinion low inflation and some effort went into thinking about monetary policy. 88 second blocks 8 block reward decreasing yearly.   Below is a post explaining in greater detail the monetary policy..inflation etc



Monetary Policy in Ubiq

One of the main defining aspects of Bitcoin is its monetary policy (also described as inflation control) and how it has programmed in block halvings roughly every 4 years.  This serves to incentivize early participation in the network and attempts to simulate scarcity and a diminishing supply.  Thus far this has worked out well for Bitcoin but there are concerns that this may not work out in future with incentivized rewards per block approaching 0.

Ethereum on the other hand was designed with different aspects in mind.  Their initial distribution was largely a premine as well as coins distributed through an ICO process.  60 million ETH went to the ICO buyers and 12 million were premined for the developers[1].  As such, the monetary policy during the Proof of Work period wasn't defined and we have the situation where a static 5 ETH is mined every 14 second block[2] (not including rewards for Uncles).  The promise here is that Ethereum would be moving to a Proof of Stake model where the coin inflation and incentive model for the network would change.

If we run some rough calculations, Block 0 generated on July 30th, 2015.  Current coin supply stands at 88,138,955.03 ETHER so roughly 16,138,955.0 ETHER has been mined via Proof of Work in the past 1.48 years.

Below is a table which outlines this relative inflation rate should Proof of Work continue forever (disregarding the switch to Proof of Stake and Difficulty Bomb which will slow block times).


Here we can see the criticisms of Ethereum where it is said to not implement a monetary policy as yearly coin supply inflation remains the same and is high.  The lack of monetary policy then also extends to Ethereum forks such as Ethereum Classic or Expanse which as of writing this have not implemented any monetary policy in code.

In Ubiq we wanted to program in the option of staying with Proof of Work indefinitely should it prove to be viable long term.  There are many aspects we will consider in terms of viability such as overall health of the Proof of Work network, coin distribution but ultimately we foresee a future where we may run as a Proof of Work network forever.  With Ubiq we plan on running a Proof of Work network for a minimum of 1 year before considering and evaluating any switching to a Proof of Stake scheme.

With our designed monetary policy, block rewards will start out at 8 and decrease by 1 yearly until it reaches a minimum of 1 UBQ per block.

This monetary policy is illustrated in the table below.


Here we can see that in year 8 onwards, approximately 358,364 UBQ are mined per year but this gives a slow tapering effect on the yearly inflation rate from 0.73% per year.  In essence, this is similar to the long term inflation scheme of Monero[3] which provides a constant "tail emission" of 0.6 XMR per 2-minutes block (0.87% yearly inflation around May 2022) as opposed to the infinite block halvings of Bitcoin.

Finally, it should be noted that we have successfully tested out the code related to this monetary policy in our Testnet[4].  We look forward to bringing you the first Ethereum fork with an implemented monetary policy in less than 1 weeks time!


References:

1. https://www.reddit.com/r/ethereum/comments/3i845f/what_is_the_formula_of_the_total_supply_of_ether/
2. https://etherscan.io/chart/blocktime
3. https://en.wikipedia.org/wiki/Monero_(cryptocurrency)#Features
4. https://bitcointalksearch.org/topic/m.17124126
   

This coin is POW or POS now?
What is % inflation here ?

the swap from jumbucks to Ubiq  JBS to UBQ...was posted in public on this forum twitter slack etc..basically its was announced and public for quite a while. I would guess it was public knowledge for at least a few months. This was not a quick decision. This was not insider type trading. anyone who was interested in the project had months to take action.

There was no ICO..it was a Fair Launch....No premine, no instamine..it had a short period of mining then switched to Proof of stake..then the Devs after lots of proof of concept ideas and exploring different options they decided to do a coin swap and switch to an ether based code..but they did some modifications..


the dev team is very active..in fact I believe later today the first token will be added to the UBQ chain...
they have long term plans to be a stable platform for people to build on..

As for Polo  add...yes in due time

this is a serious long term project. best way to learn more is to head over to the slack..  http://slack.ubiqsmart.com/

^do you know you guys jumbucks is still alive!! :-D lmfao

Checking out the listing dates when the top 3 coins hit the /addcoin page on Nova Exchange and it shows we have a nice community effort here getting these votes together. Great work everyone, maybe we can wrap it up today?

http://imgur.com/a/u1k8P

*FYI*--->insiders bought $JBS 5000-7000 satoshis range so with the split adjusted = 500 satoshis!!! :-D lulz

Jumbucks(JBS) https://bitcointalksearch.org/topic/ann-jumbucks-fair-launch-no-ipo-no-premine-jbs-multipool-5-stars-pod-765082


See the schedule and take decisions himself. Recently the price has been 6k

What was the ico price of ubiq ?
Ans: This is not an ICO coin
Is dev still active?
Ans; Yes there are active
Any chance to list on polo?, yet
Ans:This can not be guaranteed because the criteria poloniex team use to get tokens listed on their exchange is not clear

Is it worth to buy in this price range?

Jbs?

There is no ICO, there was swap from JBS. Dev is active and work hard.