Topic: The Abacus Coin: Thinking Beyond Cryptocurrency - page 2. (Read 3432 times)

What is The Abacus Coin Shares?
we have 2 Benefit pools for the Coin Holders:
       Pool 1: the Abacus Coin mining process produces not only Coins as rewards, but also answers to real world mathematical problems that hold value in themselves. We can cannot ever say each mathematical problem will be purchased or when.  But we will share 50/50 with the coin holder, how we can do this is very simple your coin will be linked to the Mathematical Problem which was solved so you will be the paid out accordingly "Remember if you sell your coin the person that holds that coin will receive the Profit Share of that Coin linked to that Mathematical Problem"
       Pool 2 : The Abacus Coin Product and Service Profit Share Pool,  We share the profits 50/50 with the coin holders, So that means the more coins you have in your wallet means you get more coin share of the Profit Pool.
How are the profits made?
1.   Cloud hashing Packages sold
2.   International calling cards sold
3.   Any other New service we Launch
profits are calculated after all costing have been paid out then we share it 50/50 the 50% we keep is re-invested into new services. Each month can be Different amounts so nothing can be sure.
Example:
223,789 coins in the market  and for the month 124,764£ profit to shared with the coin holders
124,764/223,789= 0.55£ Per coin
This means if account Holder A has 233 coins in his wallet he will receive 233*0.55£=128.15£ that month out of the profit pool, If Account Holder B has 10,743 coins in his wallet he will receive 10,743*0.55=5908.65£ that month out of the profit Pool. This can be paid in Fiat or any other crypto coins.
So if you think about this the coin has a greater value already so if you sell your coin on a exchange just remember the person that buys your coin will be the new owner and will get the Profit share for that coin so always sell your coin for higher as there is profit share income you will lose

I'm very excited about this coin. It's seem really good.

I have some questions:

1)i don't really understand what "the dividend" you are talking about really is. I try to make an example. Some university or sci-labs contact you and offer x money to solve their problem: after that (and only after that or in the meanwhile either?), we, the miners, and you, abacus, will be payed in abacus coin?
If not, how "real world mathematical problem" will be choose?

2)any date of launch? even for an open-beta?

3)i see that cloud mining start with 100mh/s. If i want to mine out of the cloud, how can i mine with, i don't know, a normal gpu (500-700kh/s)??

Thanks a lot!

The primary difference between Abacus and other Altcoin's are :
•    Answers to real world mathematical problems that hold value in themselves.
•   Miners potentially will be able to choose what problem's they would like solve.
•   How will the dividends from a sold problem be distributed, it's very simply your coin that you have mined from solving that problem will be attached to that problem so you receive a share of that dividend "No Guaranteed that any or all problems will be purchased"
•   How much of the dividend is shared " the dividend is divided between Abacus and the miners " with our cut of the dividend we will be re-investing it into our back bone.
•   A proof-of-work that is scientifically significant, and relies on novel technology that has substantially more power than the BOINC-based Gridcoin and others.
•   The Abacus Coin is something that is highly valuable to mathematical research, which means that it has the value of any other coin, that is the proof-of-work, in addition to the inherent value in the POW algorithm.
•   Mining reduction and finality will be achieved once tertiary searches for H(37) are finished. This gives a long lifetime to the coin with integrated difficulty increases inherent to the calculations required.
•   This is a unique proof-of-work (Hadamard matrices) secured by the scrypt algorithm, though NOT BASED ON IT AS P.O.W.
•   Abacus Coin has inherent value due to its scientific significance.
•   Compared to other coins that are based on existing BOINC technology. Abacus Coin is an evolving technology that will have FPGA and GPU support published Sooner than Later allowing for significantly increased computing power.
•   Block SIze, this is based on how quickly computations are performed, at a rate of one block every k/k+100 calculations, where k is the number of previous blocks.
•   Outside Mining, Users will be able to mine outside of the cloud, though this feature is still under development for a user-friendly Abacus Coin miner. The coins will be confirmed by secondary and tertiary passes; these are simpler calculations that can be achieved by users with CPU miners and GPU Miners

Next Generation Coin:
Second generation of Crypto Coins consists of those with valid proof of work, not simply name power and new crypto algorithms. Those were the basis, this is the future and to say that it's not unique is somewhat incorrect since the other coins are two existing technologies and power grids hooked together, whereas ours is a novel, more powerful, centralized power structure, significantly more effective in solving the correct problems that valued to the academics.
The FPGA support alone is far more powerful than large portions of the BOINC network.



Long Term Goals and Services for Abacus Coin :

ABACUS PAYMENT PROCESSING "PayPal for all Crypto Currencies"
•   Provide a soup to nuts transaction processing network
•   Provide the physical layer via dial-up and internet
•   Provide authentication and verification
•   Provide record management & Storage
•   Provide first and second world compliance and regulatory infrastructure compliance
•   Provide folio maintenance record capture and lawful servicing
•   Fraud protection based on protocol compliance set by our framework
Abacus Payment processing  is a venture to have our coins accepted in the market for high streets outlets and online transactions within a joint Venture with a USA Underline processing carrier and www.CryptoCoinsConnect.com  which will be launched later 2014.

Market Cap for Payment processing is in the Trillions so there is a large enough Market for Abacus to Enter securely and with stability.

We Currently have International Calling Cards and Sip Accounts service provider ready to accept the Abacus Coin.
We are working on a Personal and Business Phone Services including Broadband Packages along with Mobile Packages for the UK and USA which will be accepting The Abacus Coin as payment.

With Joints Venture with the new Crypto Social Media Platform www.crytpocoinsconnect.com very soon you will be able to purchase services and goods with The Abacus Coin via there Platform.

One Key Market area which is used day to day is the wholesale telecommunications market many countries have high banking fees or have issues getting money or out we will be focusing on our efforts to this sector which will create a huge demand for The Abacus Coin due payment sizes will be anything from 50$ to 250,000$ the fees generated from this transactions will be re-invested into the platform to gain more advances and dividends shares with coin Holders.


Each coin is backed by real world, income and business.
As the coin continues to grow and gain value, the value produced by the coin will continue to grow due to investment growth.
Dividends are paid back to coin holders by The Abacus Coin via Cryptic coins or fiat currency as per the coin requests.


During the startup phase The Abacus Coin will attempt to create broad interest in the coin and the business model. The goal will be to offer Pre-Buying of Cloud Hashing Before the Official, in order to bring quick capital in, and deliver maximum value to early adopters.

Unlike any other coin on the market, as time goes on, real-world users will be able to exchange our The Abacus Coin  for services and products that are being produced at our real world locations.

We are Working closely to find Exchanges in as many countries as possible to make it more localised for coin holders to buy or sell coins.

Marketing Strategy which is the most important Key to the Success of The Abacus Coin and more Dividends to Coin Holders.
Launching our Services and Providing Cloud Hashing we will be paying out 50% of the Cloud Hashing Fee to our Affiliate network and at the end of every Quarter we will giving dividends to the coin holders on the revenues from the Cloud Hashing. So this is simply a win win situation for Coin Holders.

The Abacus Coin Holders are investing within themselves for a longevity just as if your buying shares in any business.

uhm...why don't you want to use this forum?

in this cryptocoinsconnect.com i have to register but i see "Free For  1 year"...and then? :v

http://cryptocoinsconnect.com/index.php/network-home/groups/viewgroup/4-the-abacus-coins

is this coin sha256?

Thanks for the answers and that would definitely be Mintpal - fast deposits, withdrawals, great support - can't beat them.

Taster Package
$5 per month - 100 Mh/s
Starter Package
$10 per month - 200 Mh/s
Bronze Package
$20 per month - 400 Mh/s
Silver Package
$50 per month - 1 Gh/s
Gold Package
$100 per month - 2.5 Gh/s
Platinum Package
$200 per month - 6 Gh/s
Ultimate Package
$500 per month - 20 Gh/s

maybe cryptsy?

how much is the hashrate for 5$?

Please Advise on the best exchanges to work with

Cloud Hashing - A simple solution.
 
Traditionally mining of Crypto Coins has been carried out by miners a specialist bunch of highly technical geeks who know what they are doing. Trying to emulate this within our membership would be very troublesome and fraught with problems so members are offered Cloud Hashing as a simple solution.
 
Cloud Hashing is done using our own servers and expensive hardware that we service and maintain. Members choose which package they want and we do all the work. Coins are deposited into your wallet at the hashing rate you choose and once in your wallet they are yours.
 
Choose which package you want and everything is done for you. Within minutes you are set up to mine 24/7 in the Cloud with experts constantly monitoring and maintaining everything on your behalf. Members can upgrade whenever they choose.
 
The lowest Hashing rate is $5:00 per calendar month so now anyone can get started;
 
Easiest way to mine coins.
Buy exactly the amount of hashing power you want, when you want it.
No technical knowledge required.
No hardware to maintain.
No software to configure.
Harness the power of the latest mining technology without breaking the bank.
No obligation to continue mining once the term expires.
Together we drive the development of a global currency.
Together we share the costs.
 
As with all Crypto Coins the yield per month will be far higher at the start, however as the difficulty of the Mathematical exploration increases so will the time between mining a block of Coins and the amount of Coins released. Although the rewards per month slowly decrease, the value of each Coin climbs, thus more than offsetting the difference. Using this relatively slow way of releasing a Coin Abacus Miners have more control over the overall success of the currency rather than left to uncontrollable outside forces.

First off, block size and time, as well as a fixed number of coins total are all artifacts of cryptographically-based alternative currencies. A new mathematical object isn't released at a given interval, it simply exists. Coins are found as quickly as they're discovered (or equally as importantly not discovered, knowing a math object doesn't exist in a certain field is sometimes more interesting than finding that it does).

New discovery rewards are currently distributed as they always have been with mathematical research: with credit to the person who found the object, and with the benefits available to anyone who can use them. It will be extremely rare for an object to be found that has a definable monetary value and can be given to the highest bidder. For example, look at PrimeCoin: XPM has discovered some of the largest Cunningham chains in the world but that research is simply credited to the discoverer.

More updates will be Following here http://cryptocoinsconnect.com/index.php/network-home/groups/viewgroup/4-the-abacus-coins

uhm...this can ben great.

It reminds me Gridcoin, which use BOINC points or BOINC's usage of cpu to give coins.

This looks promising.

Got few questions in mind:

+ How many coins total, block size, block time?
+ How are new discovery's rewards divided?
+ Launch date?
+ A little intro to the dev team?
+ Will there be solo mining besides cloud mining provided by You?
+ How are the mathematical problems picked that are going to be mined?
+ Premine?

Thank You, anyways hope the best for You!

Abacus Coins, unlike other Crypto Currencies, have their basis in real world mathematical challenges.
 
As opposed to solving crypto-graphical problems, with the sole result being a Coin or block of Coins; the Abacus Coin mining process produces not only Coins as rewards, but also answers to real world mathematical problems that hold value in themselves.
Why waste endless computing power on solving algorithms when there’s so much more to discover.
 
Instead of mining to solve cryptography that has no further use, Abacus Coins are mining to solve questions we don't yet have the answers to. Mining Abacus Coins actually helps us become more intelligent as a whole. It could even lead to brand new discoveries across many fields of science, but probably most notably Physics due to its heavy reliance on mathematical equations. The entire universe is in balance, and somewhere out there is an equation that we can use to quantify the very fabric of the cosmos. There is literally no ceiling to what we could achieve together! Every time a problem is solved, a more complex one is introduced. We will never run out of problems to solve there is an infinite amount. As long as we keep mining Abacus Coin we will always make new discoveries!
What is the difference? Well it would help to understand the value of these answers, if you knew who had an interest in them and how they are used.
 
Are you aware that the American D.O.D pays $1,000,000 for the discovery of new large prime numbers? Just one of the mathematical problems that Abacus Coin mining will produce answers to are new 'Large Primes' so valuable as they are used in encryption and cryptography for security purposes. The Abacus Coin mining process will also calculate 'Ternary Complementary Pairs' which are used in complex systems such as LADAR, RADAR, Airship and Missile guidance systems, as well as host of other applications. Companies and governments pay anywhere from thousands to millions dependent on the complexity of the problem solved and the importance of its practical application. It will also produce Hadamar Matrises, which are immensely complex mathematical objects.

www.theabacuscoin.com
More Information to be announced at www.cryptocoinsconnect.com