Topic: [ANN][XBR] bitcoinR (bitcoinr.org) | Quantitatively-Flexible Reserve Currency - page 7. (Read 3102 times)

One person has over 10500000 coins in less than 5k bloks. What is the point of this coin?
I do not trust this coin and this dev because he is greedy , and at some point he might dump the coin.

Can you please disclose on which exchanges your coin will be enlisted and when we see this coin on exchnage?

How does your "centralized governance" model work? It's controlled by your dev team or community members that are selected by voting or any other way?

I checked all LinkedIn profiles of your team members less Tyler Cheeseman and Russ Vigil (please upload their LinkedIn profiles also). They are all from great institutes like Harvard and MIT. The first and foremost criteria for a good project is a solid team. You have achieved the first criteria, lets see how this project goes on. Will keep an eye on this.

Does that mean you are in compliance with USA Dept of Treasury policies and investors interest and money will be backed by USA government?

You are also using the PoW consensus algorithm as I read in your whitepaper. Don't you think its good to have some new consensus algorithm, PoW already has too many limitations and the crypto world is looking for a new consensus algorithm?

I do agree with you on this. I know many projects that were legitimate and good but were ignored by the crypto community in there initial days. when complexity to mine them were low, for instance MASS.  Those who adopted that mining in the early days grab too many coins before the coin was listed on any exchange. Once on exchange the coin has value and complexity also increases because now more people are mining. That's why they say take Irish, either you win or learn something.

on the current situation everything unclear, in this time dollar and most of currency may fall so what would predict the situation of XBR?

The hard cap is 21,000,000 XBR.  Half of which have been pre-mined for the uses described in this post:

https://bitcointalksearch.org/topic/m.54468236

NS

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It is impossible to increase the number of XBR, the money supply is limited to 21,000,000 units. 

NS

[moderator's note: consecutive posts merged]

It will take time if you want everything so early it won't right at all . project needs much more establishment and work to achieve what they want.

if government needs to increase the amount of supply of XBR(because of the huge uses of it) and the supply is limited then what will be the solution.

Well..It's really interesting project.
But explain me please. What's hard cap? How many millions do you want to get from it?what will be the uses of that fund?

Appreciate the kind words but I don't understand your post.  There is no account necessary to mine bitcoinR.

The only "account" that would be necessary is if one wanted to trade XBR via a virtual currency exchange like Bittrex or Coinbase.

NS

Great concept I must confess. The security in place reduces propensity for multiple accounts, this eliminates cheating and gives room for more people to participate.
I see a great future ahead. Good job Dev and team. Good luck!

Hi tex173,

Thanks for the note.  Ubuntu is a standard Linux flavor, so you can most certainly download the Linux binaries.

NS

My operating system is Ubuntu. Can I mine XBR with this operating system? I only found mining client for Windows,Mac & Linux.

Hey ToothlessCoin,

Thanks for the note.  We started with CPU mining in late March with little coordination, simply letting friends and family know via text message and Facebook posts that they could mine XBR with their hardware at home.  At that time, difficulty was <1 and we proved that a 1.8GHz processor and as few as 4GB RAM worked well enough whether it was Mac or Windows.  The announcement was met with varying interest and most people were plagued by short term thinking (how much is it worth, where is it traded) thinking that they could just flip out of it quickly.  The allure of easy money has a very strong appeal; but, when you add the necessity for people to wait between investing effort and reaping reward the number of initial participants becomes vanishingly small.

bitcoinR is not unique in this way, all PoW coins go through this same adoption curve.  Those who are early in (CPU/GPU and early ASIC) prior to a price being established are the obvious long run winners.  This method has the disadvantage of zero immediate gratification, but then there are legitimate examples of those who achieved success by taking an early PoW risk for a subsequent, non-guaranteed payoff.

NS

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Hi RomiM,

This is a great question; and the answer is one that is socioeconomic in nature.

Look around in your life at the people who are successful and those who are not successful.  Those who are not successful are generally paid more frequently than those who are successful.  Here are some simple examples to illustrate the traditional model of socioeconomically determined monetary velocity:

Daily Pay:

A laborer who in exchange for his or her physical effort in digging a hole in the earth or carrying scrap metal is paid daily.  This person uses his pay to pay for food and shelter for the night, with a little bit of funds left over to buy a small breakfast and lunch the next day.  There is no concept of saving, just work to survive.  This person does not plan for the future.

Weekly Pay:

A foreman who supervises the manual laborers in the field is paid weekly.  This person has a bit longer of a time horizon and can generally afford to save a little to pay for a used car and rent an apartment.  While the foreman generally has an easier life than the laborer, often there is little difference in their ability to save or plan for the future.

Bi-Weekly or Semi-Monthly Pay:

This is where most of the middle class is, they get paid on the 1st and the 15th of every month, or every other Friday.  They generally have had some success planning for the future, attending at least some college and are a bit more comfortable with the idea that they must invest time and effort without the happy result of immediate gratification.  Many in this category finance new automobiles and obtain mortgages for comfortable homes for their families. 

Monthly Pay

These are most self-employed individuals or small business entrepreneurs.  They must plan for the future every single month, carefully calculating how much time, effort and money they can invest in their business activities.  At the end of each month, they pay their laborers, foremen and managers along with overhead for the month, saving some funds in reserve and pay themselves from whatever profit is left over.  Many of these individuals have the ability to pay cash for their automobiles and homes.

Quarterly Pay

Many investment managers are paid quarterly.  Compensation for the best investment managers range from the millions into the billions of dollars annually.  They are paid partially upon performance of their investment ideas and execution and partially upon the tallied dollars that they "manage" in any given quarter.  Generally these individuals hold advanced degrees and have invested significantly into their educations (often in the several-hundred-thousand-dollar range).  They have planned for the future since they were children and have often had the benefit of guidance from a capable family member or mentor.

Annual Pay

Founders and CEOs of publicly traded companies will often take a very small salary, sometimes as low as $1 a year.  This salary is obviously far lower than what our laborer examples can make in an hour, let alone an entire year; however, these individuals are visionaries, and they are willing to exert tremendous effort, energy and personal funds to ensure that they are paid handsomely at year-end through the exercising of their stock options, which could be worth tens or hundreds of millions of dollars.  While it varies whether or not these individuals have heavily invested in education, they are not adverse to risk and they do not expect immediate gratification of any kind.  Often, they have the discipline to live far below their means, driving used cars and living in small homes to save their focus, funds and energy to invest in a worthwhile effort that will pay them an outrageous sum once per annum or at some future time.


So, while I cannot promise that mining XBR will be a profitable endeavor and I cannot point to any exchange listing today to establish a price, I can tell you that there are some very smart men and women who have chosen to invest their time, effort, energy and personal funds into making bitcoinR a success and that it may behoove others to do likewise.

NS


PS- bitcoinR has had listing offerings from multiple exchanges, but since they were non KYC/AML compliant, we declined listing.

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Bingo.

NS

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This is a good question and one that is difficult to answer without making promises; so what I will do is present data so one can make their own inference:

Yesterday the bitcoinR network eclipsed the hashpower equivalent of Bitcoin on November 1, 2013 (3582 TH/s).   On 1-NOV-13, the value of BTC was $198.51.

You can verify this here on the bitcoinR Block Explorer.

We are approaching AML/KYC compliant exchanges soon so we can list.  The first quantitative easing / tightening function to attempt to stabilize to our target price is 1-JUL-2020, so we would ideally like to be listed prior to that time.

NS

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Thank you for the compliment.  Regarding traditional qualifications, we feel as though our team is without par in the crypto world with the possible exception of Ripple Labs.

Yes, we are constantly looking for smart, hardworking people to help us!  For ways to earn XBR without mining, please look at our XBR Bounty Hunter page:  https://bitcoinr.org/partners/xbr-bounty-hunters/

There's more work to do, certainly.

NS

[moderator's note: consecutive posts merged]

If you have skill mate then you will definitely get any job to somewhere. You can contact them to this address [email protected]
I wish you good luck.

The team is from Harvard & MIT  
They have a professional and intelligent team for sure. Do you have any plan to increase your team member? Any opportunity for us?

I just have a question. We see every coin can be mined on laptop and PCs in initial days but once it finds a good price, its complexity increase and we need expensive miners to mine that coin or we can say reward on PC goes too low that we need more PCs/laptop to mine the coin. Whats your future plan, the complexity to mine bitcoinR over time will increase with its value or not?