Topic: [XCT] C-Bit - Elegantly Solving Bitcoin's Blocksize Problem [SHA256][POW] - page 50. (Read 66803 times)

Thanks for the info and clarifying some things.

I understand your concern about his Newbie account, but you really should be more respectful. Not every single person that is involved with BTC sits on bitcointalk all day posting on random threads. I'm proud of you for having achieved Hero Member status as I'm sure you worked really hard to attain it. Just by looking at the website and wallets you can tell Mr. Marten did not just slap this thing together willy nilly. Moreover, you can tell by his use of the English language and his firm tone that he is serious about what he is doing. Please do not bring your childish petty rants into this thread anymore because it will only make you look like a fool.

I get what you're saying. Most miners have the "rush to exchange" mentality though because as mentioned they are looking to dump the coin. I am not.

Also, it is possible someone has been involved in the crypto scene here for a while and has good understanding of code, but also simply doesn't have a seasoned veteran account here on the forums. It's not a pre-requisite of being an intelligent talented person that you have to have been posting on bitcointalk for years..

Also @dev William, you wouldn't happen to be this William Martens through a super simple googling would you?   https://en.wikipedia.org/wiki/William_Martens

EDIT: After your previous post while I was typing this I think my question was answered as no 

Sorry, Again
Un-documented Alien Founder C-bit
*****************************

Let's all get something perfectly understood from this moment forward.
I'm talking to specific people on the board.

I'm a straight talking guy and I'll say something straight forward here.

This adventure has cost well into 5 figures. And, I mean well into.

If you look at the source code, this is professionally done; and its'
been a bitch. The wallets are professionally done, the pools are
professionally done, and the website is professionally done.
This is not some desktop production by a guy sitting in his parent's
basement. If you can't look at these items and tell the difference,
then your not as bright as you think you are.

I, myself, am a businessman, who was approached to bankroll a group
of Bitcoin developers on this project. I have no former BitcoinTalk posts
to reveal. So, there won't be any forthcoming revelations to the board.
As far as the first poster to the C-bit board, he is a Bitcoin Developer who
does not wish to be known because of his connections to Bitcoin. Simple.
End of story. His past threads will also not be published. There are also
other members of the C-bit team who are members of the Bitcoin
development team. They will remain anonymous too. That is the way it
is going to be. End of story.

If you are worried that we are going to dump our coins, I think you
over-estimate their early value. Even if we owned half of them, and
could get $ .01, which everyone here seems to think is a way-over
valuation, we might get our money back from the investment. Of
course, selling half the coins in existence would crash the price long
before they were ever sold, so you would never average $ .01. So,
I, we, would lose money.

What kind of a scam is that ?

So, my suggestion is if you really think that we are trying to pull a
scam, then the minute YoBit begins trading C-bit, sell your coins and
go on your merry way; and, leave the rest of the community to build
C-bit, so we can rest alongside Bitcoin somewhere down the line.

William Martens
Founder C-bit

It is possible to do a coin successfully with a newbie account. It is just statistics are against it. Most of the time newbie accounts are used because the dev does not not want to ruin his main account. Imagine if a dev uses his main account (with this I do not mean real identity, just his main account that he has been building up over time). This would improve trust and chances of success greatly. If a dev insists on using a newbie account, then there must a reason for it and then the community will take that into account with their risk assessment. It will be a sword over his and the coins head all the time. Chances are very good for a newbie account that such a coin gets dumped by the dev when listed. Even if a dev has many coins (which is perfectly alright by the way), using his main account will improve trust that he will not just dump and that is all assurance that the community needs.

The risk is that the coin will be listed on an exchange before the things that you mention will happen (development etc.) The dev is going to put everything into the coin in anyways to make it a success right? Then use his main account. It is not an unreasonable request.

I don't think the account that's used should matter. If you're going to reveal your real identity that's good enough. Look at Decred, we know a lot of people were involved in Its development for years, but they still did their ANN with a noob account just called "decred"

Substance, intent, and active development/support are the only things that truly matter.

Nah. If I created a coin I would use my real account to show people that I wont screw them over.

i dont know, from a developers standpoint if i were to create a new coin for some reason, i would probably make a new account that represents it and makes it obvious what the account is designated for.

especially if i had an account with like 420 or 69 in it, etc. lol

That would be good and sooner rather than later.

If you come back with your real account, people can see your posts and the type of person you are from your interaction with the community so far. It will help the coin a lot. The Cbit guy from the first post must do the same. There are too many examples of newbie coins that crash when dumped as soon as it gets listed on an exchange. Most of those guys probably want to hide away not to be found after they have dumped and disappeared. Posex and Gravitybit being recent cases.

You know what.
You're right.
My mistake.
I handled this incorrectly.
I will get with the moderator and figure out how to come back
up on the forum as a recognized individual with authority.
I apologize for my inconsiderate approach to the community.
( By the way, the post is real and from the Founder of C-bit )

lol dude. Maybe you will create more trust if you use your real account if you want to prove that you are serious and legit. You have nothing to hide right?

Don't be stupid.
Read the C-bit mission statement and understand what it says before making statements that don't make sense.

lol c bit will trade at 10% because it has 2 MB blocks? By that reasoning so should many many other alts.
some even have 8 MB! so they should be trading at least 40% of BTC cap! 

I will guarantee to everyone here that the ENTIRE development team at C-bit does not hold more than
around 10 % of the entire current float of 13 Million coins. The public holds around 90 % of the current
float. We were caught by surprise at the speed of coins / blocks in the beginning of the launch. We had
theorized the difficulty would increase at a much faster pace than it did, although it did increase rather
rapidly to 17 million. The individual or individuals who got the large amount of coins were simply lucky
that they saw the launch announcement ads and reacted when they did. It was a simple luck of fate and
being in the right place, with the right over-powering mining equipment, at the right moment in history.
We had prepared a launch suitable for multiple smaller mining equipment users. A launch spread out
over the network. More or less, we expected a quiet opening. What we got was small miners interrupted
by an over-powering nuclear detonation. We didn't see that one coming.

As a side note to this thought. I do not know if the individuals who gained the large amount of coins
knew what they were doing was calculated or by accident. I don't know if they were surprised by the
results as much as we were, or not. Doesn't matter. Only they know for sure. However, I do know that
they are VERY wealthy men at this point. I would ask, if they are reading this, to donate some of that
new found wealth back to the C-bit community by donating to the C-bit Development Fund. It can be
found on the C-bit website at www.btc-bit.com . ( It's under one of the menu tabs ). Think of it as an
investment in the future of C-bit and an investment in the future of the valuation of all of the coins you
own. If we continue to develop C-bit, your coins are worth more, and the more you are worth. These
funds will help defray some of the massive costs that we incur to run this network and improve the coin.
You can clearly afford to donate a small portion and still buy 200 yachts, 100 homes, 500 cars, 2 tons
of gold, etc. Just a thought. I am not making a value judgement, and I hold no grudge. More power to
you, and I hope you spread the word and help the coin grow.

This project was a long and complicated venture, and we could not see everything. We were just as
surprised and startled as everyone else. Sorry about that. But, things have settled down now, and the
current number of coins is still just a small fraction of the overall number of coins in the total picture.
The coins are now being mined at a reasonable rate.

This process is expensive, time consuming, and far more complicated than one can imagine. Please
give us time to grow. We will do what we can as we can. It has been a project in development since the
Fall of 2015.

Spread the word about C-bit. Remember what C-bit is. C-bit IS Bitcoin Core. But, it has the 2 Meg Blocks
already built into the source code, without the need for a hard fork, like Bitcoin. It is completely compatible
with Bitcoin Core in every way and is updated with Bitcoin every time Bitcoin releases an update. There is
no longer any need to have the argument with Bitcoin Classic over the block size. Bitcoin Core can remain
decentralized. C-bit's price should eventually trade at 10 % of Bitcoins' price.

Thanks for having faith in us, and welcome to the adventure of a lifetime.

William Martens
Founder C-bit

yeah i just did the math, that is an entire days emission from the whole network, at this rate, and the difficulty is only going to increase, and when it does, we'll be looking at 10 minute blocks, up from 5 minutes, and then production will be 72000 coins a day. i wouldn't consider letting go of 150,000 for less than 2 btc. now that i've had a chance to check my antminer and my earnings it looks like a more suitable price would be > 1000 sat.

you'd have to spend a few bitcoins just to get that many coins in a day at this point..

Thanks for the offer but for that price I will definitely hold. I'm thinking XCT has a brighter future in store than that. Especially since that is over two entire days of network production for .25 BTC

i will pay 0.25 for 150,000 if you dont want to hold

Well while we are waiting for an exchange, if anyone wants to buy let me know. Name your price 

should be more than that, running yesterday cost 0.245 btc got only 52,000. in a few months reward going to drop then it cost 0.50 btc to mine 52,000 if the hash rate keep this way, so it good to hold. if only few more mining then you get alot less. couple months from now these 52,000 could be worth 1.5 btc

what should the starting value of this coin be? i was thinking ~250 satoshi, that way if anyone does dump it'll be easy to collect the coins from their weak hands