Bitcoin Forum

So why Rimbit and not Bitcoin?

We get asked this question many times and it is also this question we asked ourselves early on that made us create Rimbit, when the Bitcoin community ignored our warnings that Bitcoin would eventually be managed by Companies.....  and 2 years later, Bitcoin is managed by 21 companies with the top 3 companies managing 51% of Bitcoin and they are also based in China.
Reference: http://www.businessinsider.com/bitcoin-pools-miners-ranked-2015-7

We were Bitcoin miners (2013), and proud to be part of the community that was helping maintain the network, but after spending $10,000 USD on hardware that only had a ROI (Return of investment) of only a few months, we looked at Bitcoin more closely and we predicted that the hardware that the community needed to maintain the network, would increase in cost exponentially, we began to look at what Bitcoin was heading for.
 
So 2 years later, the Bitcoin network is managed by private miners (companies) and cloud mining firms that will let you rent their old miners.
To be effective Bitcoin miners these days, you will need to rent a large warehouse and purchase a few million dollars worth of mining equipment for that warehouse and make sure that you have a return of a few hundred thousand dollars to cover the monthly electricity bill and that simple fact is what killed the everyday Bitcoin miner!



So how is Rimbit different?

As our concerns were falling on deaf ears, we knew that the only way that Crypto Currency had a chance to survive as a community currency was to build it ourselves and with the help of community funding, we launched Rimbit the currency that was a mix of Bitcoin code and code from other coins.

The differences:

- Rimbit is not mined so no company can manage the network
- Instead the community who run Rimbit wallets are responsible in running the network
- The only hardware required to use and manage the Rimbit network is an old computer, running windows, mac or linux
- A new project has been started to run the Rimbit wallet on a RasberryPi which will only consume a few dollars worth of electricity per year
- 5% stake (Interest) is generated by the Rimbit network and issued via the blockchain back to the Rimbit wallets that remain online to help the network
- Our goal is to minimize the hardware and utility costs, while Bitcoin does the opposite and increase the hardware and utility cost (now in the $ millions per month)

Grab a wallet from our forum at http://rimbit.com/resources/categories/rimbit-wallets.1/

Github link https://github.com/Rimbit

Rimbit Forum: http://rimbit.com/forums/



You can get Rimbit at Indiegogo https://igg.me/at/rimbit-com/x/6825374


Or on these Exchanges:

C-Cex: https://c-cex.com/?p=rbt-btc
useCryptos: https://usecryptos.com/market/RBT-BTC
Yobit: https://yobit.net/en/trade/RBT/BTC
Cryptopia: https://www.cryptopia.co.nz/Exchange?market=RBT_BTC

----------------------------------------------------------
Coin Name: Rimbit

Coin Trading: RBT

Launch Date: April 23 2014

Announcement Page: https://bitcointalk.org/index.php?topic=1105448.0

Github: https://github.com/Rimbit

Money Raised on Indiegogo: https://www.indiegogo.com/projects/missed-out-on-bitcoin-here-is-your-second-chance/x/6825374#/ (Still current)

Premine 100% - (The only way to distribute a minerless crypto... funds used to maintain operations and continue development while avoiding corporate influences)

Money Supply: 360,000,000 Rimbit

Exchanges: C-Cex, useCryptos, Yobit, Cryptopia

Explorer: https://rimbitexplorer.com/chain/Rimbit

Tx Fee: 0.001 RBT

Social Accounts:

https://twitter.com/RimbitCrypto

https://www.facebook.com/Rimbitcoin/

https://www.youtube.com/channel/UCl1PCTm7Le8Tg7LuEUiSpfA
https://www.reddit.com/r/RimbitCrypto/

We created a minerless coin, simply to avoid the influences of Mining Hardware, Pools and Farms.

Our goal since day one, which continues till now, is to hand over the reigns to the community, as we have stated time and time again.

This includes the community appointing a CEO to run operations etc.

Rimbit is geared towards being the truest Community coin possible.

----------------------------------------------------------

What are the unique features?

We started Rimbit to be a currency and have never felt it necessary to sway to far from the core principals of Bitcoin, as we strongly believe that Bitcoin is the best coin, except for the mining aspect.
We built Rimbit to simply be a currency... nothing more, nothing less and feel no need to have black hole technology or Whizz Bang X55Z-Nebulas integration, because there is no need to!!!
Its just a currency and more devs should embrace that simplicity!

However, we will use our simple approach to Rimbit to spawn new ways of utilizing blockchains by eventually combining new chains into our wallets, again bypassing mining, to give wallets more applications that can be added or removed, based on what extra utilities a user requires... such as contracts etc...

What is in store for Rimbit in the future?

We are currently running some hardware projects to enable users from less fortunate countries that ability to run Rimbit wallets, 24/7 at nearly zero electricity cost.


You can see a testing version of the RimbitPi wallet running... here https://www.youtube.com/watch?v=lLw0lLQDOhI

Rimbit would also like to harness the power of our community run blockchain so we can create applications such as password managers, document verification tools, rental contracts and a multitude of other blockchain powered tools that are safe from manipulation of the Bitcoin style network that is currently the main crypto currency and unfortunately the worst possible version of a crypto currency that is at the mercy of 21 companies than run the network!



UPDATE: March 2016 - Bitcoin network is failing and Miners are the issue

Looks like our Prediction for Bitcoin is coming true - Something we knew back in 2013 and the reason we started Rimbit in 2014

Quote:

BTCC today deployed 100 full bitcoin nodes across five continents to support the bitcoin network. Full bitcoin nodes enforce the rules of the bitcoin network by serving a full copy of the bitcoin blockchain and validating blocks and transactions.

BTCC is the first bitcoin exchange and first mining pool to donate and deploy full bitcoin nodes for the maintenance of the bitcoin network.

While bitcoin miners are rewarded with bitcoins for generating transaction confirmations, nodes are not compensated for hosting the blockchain database and relaying transactions.

BTCC's chief operating officer Samson Mow said that the company deployed the nodes in order to do its part in helping maintain the bitcoin network. The network has seen a 19 percent decrease in viable nodes over the past year to 5,280 at the time of publishing.

"As a proponent and believer in bitcoin, we see both supporting core development and well as the bitcoin network itself as our duty," Mow said. "The nodes we deployed today will help to preserve the network as the number of full bitcoin nodes continues to decrease."

BTCC's chief technology officer Mikael Wang said ten of the nodes were set up as DNS seed nodes. BTCC DNS seed nodes provide the bitcoin community with secure and trusted full nodes to help new nodes synchronize with the network.

"BTCC has deployed ten powerful DNS seed nodes with unrestricted network access that are publicly available for anyone to use when hosting their own bitcoin core nodes," Wang said. "Simply connect to seed.btcc.com:8333."

A list of all the full bitcoin nodes that BTCC has deployed is available at: https://bitnodes.21.co/nodes/?q=/BTCC:0.11.2/

BTCC deployed 19 percent of the nodes in Germany; 19 percent in Singapore; 13 percent in China; 21 percent in the United States; and 7 percent each in Australia, Brazil, Ireland, and Japan.

BTCC's chief executive officer Bobby Lee said BTCC deployed the nodes across five continents in order to ensure that people across the world can easily access the bitcoin network.

"Most reachable full bitcoin nodes are located in the US," said Lee. "So we intentionally distributed the nodes we donated in countries that rank low on the full bitcoin node geographic distribution list. We encourage other bitcoin companies to join us in contributing to the bitcoin ecosystem by sponsoring powerful full nodes."

SOURCE: https://www.btcc.com/news/article/btcc-deploys-100-full-bitcoin-nodes-across-five-continents

A long but good read. This looks like a promising coin project. How do we get the coins?

One can buy RBT on IndieGoGo     https://www.indiegogo.com/projects/we-want-to-take-over-from-bitcoin-and-be-number-1#/story

Or on the Rimbit Forum store         http://rimbitforum.com/store/

Rimbit also trades on a number of exchanges such as C-Cex   and   Use-cryptos

Rimbit definitely makes sense as you don't waster thousands of dollars on mining equipment. Just buy the amount of RBT that you want or can afford.

Join the community at the forum address above and see what's happening :)  :)

This isn't a new coin. It's been out Since January.  Total supply = 391,128,221  http://coinmarketcap.com/currencies/rimbit/#charts (http://coinmarketcap.com/currencies/rimbit/#charts)

The way to get coins is to buy them initially from Rimbit.  It was 100 percent premined.



  

Actually it has been out since May 2014. Just passed 1 year.

The prices on the Rimbit forum store and IndieGoGo are general identical, so whichever is easier.

I've been using Rimbit for over a year, and I've been happy with my coins. I think mining was a good idea to get bitcoin started, but it's mostly done by large mining farms now. The average user of bitcoin just buys and sells(and uses as currency) without mining, and personally I think that is the way to go for new altcoins out there. All my transactions are  fast, community support is great, and the creator of the coin is very active and helpful. There are occasional hiccups but because it's funded by sales there are paid developers to work on problems and further development.

That's a really good summary! Nice to see a fair comparison without any sledging as seems to be the case in most crypto articles or forums.

I also have some Rimbit from the IGG campaign. Been great seeing how the community has grown over the past 12 or so months. Hopefully more people jump on board and adopt some Rimbit!

What have you been using rimbit for?

Personally i have been using it for my Rimbit faucet, just like bitcoin in its first couple of years the value had to grow before it can really be used. Although it may not be worth much today, I cant wait till its worth something in the near future :)

You are correct....
We looked at every scenario we could to not go down that path, but at every turn it did point to a premine...

Mining does create the perfect avenue for distribution and by removing it, we did have to figure out an alternative...

Free was not an option as it provided neither any intrinsic value, nor a financial avenue for continued development

We have had to struggle at every turn and now we are finding that we need to be involved in many more exchanges to take the coin to the next level.

So we decided that the only way to get a "fair go" at being listed with exchanges, is to become public on this forum...

For those with Raspberry Pi's, we do have a wallet that was built by one of the Rimbit members...
http://rimbitforum.com/files/category/1-wallets/

We are also looking at creating some wallets for QNAP and other commercial NAS systems in the very near future ... :)

If your a dev and would like to help out... we would appreciate the contribution and perhaps you would be interested in becoming part of the team

As Rimbit has been around for a year now, many of the members have expressed interest in certain topics.

One of those topics is gaming and as such, we setup a forum category to address these discussions.

Every now and then we have events on private servers such as some CS:GO gameplay and some Sim Racing.

This weekend, some of the Rimbit Forum members will be racing Assetto Corsa and anyone reading this post is more than welcome to join.

The Forum post is here at http://rimbitforum.com/topic/2273-rimbit-race-weekend-2/ that outlines the times, entry fee and prizemoney

Cheers

One thing I love about Rimbit is the generation of interest on the holdings in your unlocked wallet. For the first year it was 10%. This was paid periodically based on the number of RBT that one owns.

Now it has dropped back to 5% and will stay at that number forever. It is great to watch my total increasing weekly as free RBT are minted (generated) as we call it.

It has not always been smooth sailing

When we tested our Rimbit wallet for the first time (early 2014) in preparation for the main launch, the wallet at that time was pretty much more of a Bitcoin copy that a smattering of other Coin code.

Initially we started selling Rimbit at the completion of the initial mining but as we left the miners running to continue to confirm and verify transactions, we hit a massive issue.

What we discovered was once all the coins where generated and the miners left to run, that it suddenly looped back to the original coin count and began mining new coins again.
So we went from the code specified 360 million coins and then after the loop, it began mining another 360 million coins, which completely destroyed the purpose of Rimbit as we now had 720 million coins.

We contacted some of the top devs of Bitcoin and warned them of our findings. Apparently its a known issue.
Whether is been resolved or not by Bitcoin, we dont know but we do speculate that it is partly a reason why there is a need for Bitcoin to do a hard fork.

We looked at some of the fixes we needed to implement and the options where to hard fork Rimbit or just start from scratch again.

We chose the latter as it was easier for us to do that, than continue with the current wallet.

So in mid-late 2014, we took the old Rimbit wallet offline and asked everyone to move over to the new wallet and the transition was fairly simple, albeit with a lot of support help which we where more than happy to do in record time.

We have had a few other stumbling blocks, but as a community, everyone is informed and we try and resolve issues as quick as possible :)

Mostly tipping, if I see a post I like and they have their Rimbit address in their signature, I might send a few coins their way. I've also done some trading on the exchanges. One of the reasons I never got into bitcoin was because getting money on an exchange is usually tedious/expensive, and there's not much local use near me. Using Rimbit finally got me into getting some bitcoin. There's only two places I know of that you can use Rimbit as payment(a bar in the Caribbean and a store who's location I don't recall at the moment), but I know that will grow in the future. There's a buy/sell forum and there have been ads posted, but I don't recall any actually happening. I'm hoping to offer some Carolina Reapers for sale next summer.

As an early Rimbit holder, I am amazed at how quickly the issues have been resolved.  It's great to have a forum where all questions get some sort of answer that makes sense.

We are rebuilding the .com website to enable more features on it as well as including Author status

In the meantime, please use the forum at www.rimbitforum.com

What exchange is this listed on ?

Interesting that all of the "supporters" of this coin only have single digit activity. I guess this coin draws a lot of BCT newbs... LMFAO

I still can not understand the idea of currency or its innovation.

Try                       https://c-cex.com/index.html?p=rbt-btc

who or what the f... did the translation on your danish website ?!?  it sucks big time, no dane will take this serious ..

Imagine Bitcoin without Mining - We did and we built it

All you did was clone Novacoin.

Rimbit [RBT] is listed: https://yobit.net/en/trade/RBT/BTC
Rimbit Dice: https://yobit.net/en/dice/RBT


https://yobit.net/i/small_logo.png (https://yobit.net/en/trade/RBT/BTC)

We also used parts of Bitcoin and Peercoin to come up with Rimbit  ;)

RimbitPi

The Rimbit Pi is a small low cost bit of Hardware, (based around the Raspberry Pi), which is a Pre Configured Rimbit wallet that can remain online 24/7, locked, but still enable the minting process (interest), using very small amounts of power in the process.

You can view more about the project at http://rimbitforum.com/topic/3062-rimbit-pi-project/

We have a new project starting at http://rimbit.com/threads/supersupersupernet-inter-national-communications.1161/

Our aim is to unite more coins and work together as a group and also help fund projects and share technology

The difference between Rimbit and all the others is that the miners have to do the confirmations. Currently about 20 companies (mostly in China) control 95% of the mining and 3 firms control 51%. This IS NOT a distributed coin under community control. If the ChiComs buy those 3 companies (or expropriate them) then BTC will be just another fiat currency. This is the potential fatal flaw in the design of BTC and other similar mined coins.

With Rimbit, the confirmations are done by the community with their wallets on their own PCs. And as an incentive to keep your wallet open, you earn 5% interest per annum.

Anyone with 1 RBT in their wallet on a PC at home can confirm transactions. No business or government can stop it!

Yes it does and I am one of them!  I would guess that Rimbit has more crypto newbies than any other coin.  Probably for a variety of reasons from the friendly community, to the efforts put in by the bosses, or the openness of what is going on, or perhaps it is experts taking time and effort to explain to newbs the ins and outs.  For example, how many coins have a chief that is offering to help them one to one to start trading on the exchanges, from setting up bitcoin wallets to joining the likes of C-Cex etc, all via skype.

We are all be encouraged to broaden our horizons by joining forums like this, so there are a lot of newbs just now, but then again, Braino, so once was yourself!  As a newb I would not be here without the support of the Rimbit crew, but now I am here, that means there is one more person in the crypto world, and that is great news for you oldies!

Seems like an interesting idea.

I've got 100 Ribbits here by just joining their community the 100 is not yet confirm as I am still syncing the wallet,this thread is not very active but this one is a very promising Altcoins compare to the others,looking forward to be part of this community

We have a pretty good forum of our own and most members spend time there instead of Bitcointalk.
http://rimbit.com/forums/

But you are right, its not very active on this forum and I will make more of an effort to post here, just as much as I post back home at our forum.

Also got mine too I think you should also be active here many people who are searching for crypto currency first comes here and bitcointalk has a very high traffic ,if people who are into altcoins can see that you have a very active community here,they will check your thread and see what you got to offer it's part of a marketing strategy ..

We have a small team that will be getting a RaspberryPi (We call it the RimbitPi) that was initially sold as a test unit on Indiegogo.

As Rimbit is all out and there is no need to worry about mining, mining pools etc, so we concentrate on the user experience and the network.

We have put together a Pi that will enable a user to simply run a wallet outside of the PC/Laptop enviornemnt to keep electricity down to a minimum which now means a wallet can run 24 hours a day with a total electricity bill for the year being less that $10

This Pi is just the main unit that we will build onto, that will include a printer, biometric scanner and reader to read back paper wallets.

Officially we havent released them as a finished product until the testing team has put it through its paces...
We will be selling them, but users can also grab the software they need and a 3D printing file if they have or will buy their own RaspberryPi to put together a RimbitPi and this of course is released as a free product.

The RimbitPi we sell is simply for users who dont want to or cant put one of these units together.

You can get more information on our forum at http://rimbit.com/forums/rimbitpi.47/

http://s11.postimg.org/h4r4nxe6r/IMG_20160309_061505.jpg

This is a great way to get people involve on Rimbit,this is an edge I don't know if your team is the first one that came up with this device but this is indeed awesome,many altcoins devs will try to replicate this if this one proves to be a good way to promote a coin..

Update us more on the development by posting on this forum..

I have ordered a RimbitPi and am looking forward to it - good to know that it can run several wallets quite comfortably at one time!

Cool toys are cool!

We have stayed clear of corporate funding, so as not to lose control of the main goals we set, when we first started Rimbit
We also took our time and avoided Exchanges to a large extent, as our goal was not to be a pump and dump coin and 2 years later, it is very obvious that Rimbit users are not dumping and instead holding

Since day one, we have expressed that Rimbit is to be as truly decentralized as possible, something we believe most coins cannot achieve in the long run and even though there is a Top Person at the helm, it has always been understood that it is not permanent and will be relinquished when the community is ready to take charge.

Most of our funding is done via Indiegogo - https://igg.me/at/rimbit-com/x/6825374 and we do that so we remain as transparent as possible.

Rimbit at some stage will be 100% community owned and managed and with continued support from people, we hope to achieve that goal, sooner than later, as we see some fantastic forum members rising to the top and coming up with some great strategies for the future.

For those of you with 'mined' coins who are concerned about control being in the hands of a few companies in China. RBT is the coin for you.

For those of you who aren't concerned about control being in the hands of a few companies in China..YOU SHOULD BE. RBT is also for you

I have been testing the Rimbit Pi it is working well and there is a lot of potential with this little device in the future.

Position Vacant: The Apprentice - Social Marketing

Its time that Rimbit take someone from the community to become the lead role of Social Marketer.
The position is not working for me or Rimbit, but for the community as you will be responsible for attracting new members, more campaign contributions, increase in Social Awareness and visitors to the forum and IGG, which I will personally monitor and give a report at the end of the 2 week period

It is a position that has 3 main responsibilities:

• Attract more members on IGG and the Forum
• Increase the financial standing of Rimbit via IGG or other
• Increase awareness of Rimbit on Social Platforms (multiple)

Eligibility:

• You must be at least 15 years old
• You can be from any country
• You must be a forum member and if you just signed up today, you are still eligible
• You must have the time to devote to tasks daily
• You must be ethical and able to admit fault
• Commitment, creative and can just get the job done without complaint

How to apply:

• Reply to this post
• Wait till you are selected
• Perform the duties as you see fit by yourself or as a group that you bring with you, which may not have to be forum members

How it will work:


You will be asked to start immediately when you are selected and you have to do the 3 main responsibilities over a 2 week period.

At the time you start, the forum will be presented with the current IGG amount, the visitor numbers that the forum currently has and also the member count on the forum, so the community can view your performance over your 2 week apprenticeship.

No money will be issued to you, so if you think you can do a better job by spending money, then that can work to your advantage or disadvantage if you don't follow through.

I will issue you Free Rimbit for anything you need for promotion, but it will be controlled and promotions must be explained before being implemented by you.

A forum thread will be started that has your forum Username as the prefix and it is there that I will display stats of what you are doing and also allow forum members to comment and make suggestions to help you improve your effort.

You will be paid....

You will get 10% of any increase in confirmed contributions on IGG above the starting mark that you are made aware of at the start of your 2 weeks. As fraud may accompany a contribution, you will need to wait till its all confirmed as legitimate before it becomes valid. This is also to make sure you do not promote to groups known to commit fraud.

Then your efforts are presented to the forum and another person will be chosen that has replied and they will be required to repeat the process and so on, for as many months as it takes, until we see someone exceptional.

The top 3 performers will then be asked to do the process again, but over a month period to finally chose the one person who will then head up the Social Marketing of Rimbit.

As the head of that position, you will fall under the Marketing Team, that will be chosen in the same manner and as a team, you will receive 10% of any funds that will be distributed by the Marketing team, that Rimbit takes from any direct sources that Rimbit may have in the future and will be permanent as long as you continue to work your position.

I understand how difficult it is to do this position and will take into account factors that may not necessarily favor someone who gets big IGG contributions, but little visitors or forum signups.

Edits may be made to this post to take into account issues or situations that may arise.

To Apply, please visit the Rimbit Forum and post here http://rimbit.com/threads/position-vacant-the-apprentice-social-marketing.1877/

To get 'free BTC' and confirm transactions requires a million dollar mining farm and a nuclear power plant to run the farm.

To get free RBT and confirm transactions, you need only your PC or MAC or the RimbitPi which is a $200 nifty piece of technology.

Which one makes more sense?

Looks like our prediction is coming true and the mining issue is now a REAL ISSUE !!!

Rimbit's main function is that it doesnt need mining, something we state over and over again and for many, it falls on deaf ears and for others, well it makes sense and Rimbit is sometimes purchased.

Keeping Bitcoin alive is now becoming a financial requirement for those who invested millions in Bitcoin as the network is now suffering at the lack of miners who are needed to confirm and verify transactions.

Nodes are used to take place of miners, so that a global web is built to replace the mining community, who are getting smaller and smaller in numbers, which then requires even more nodes to operate.

Since day 1, Rimbit uses nodes for the same reason, even though the Rimbit Wallet is a node in itself, but the user numbers are not yet high enough for us to eliminate them, but as more Rimbit wallets come online, then there will be less nodes required, until its 100% self sufficient.

Its only the start of 2016 and already Bitcoin is failing and this scenario will play out with every other coin, except Rimbit.

I updated the ANNOUNCEMENT page and more information can also be viewed at http://rimbit.com/threads/proof-that-bitcoin-is-failing.1948/#post-3952

Looks like the Chinese are rolling out Nodes to overcome the mining problems now... It had to happen and its a real shame that even the investment bankers, business angels and corporate's never saw this issue.
The lack of Due Diligence on their behalf is without a doubt a big failure... I wonder what will happen next with the Bitcoin system and all those heavily invested in it  :o

It doesnt take a genius to work it out... or if thats the case, then everyone who has Rimbit must be a genius  :D

The question is... When China decides to stop Bitcoin operations, will the nodes come down as well... Then where does that leave Bitcoin users?

BTCC's chief operating officer Samson Mow said that the company deployed the nodes in order to do its part in helping maintain the bitcoin network. The network has seen a 19 percent decrease in viable nodes over the past year to 5,280 at the time of publishing.


So a 19% decrease means that 1238 nodes went down in 2015. The 100 deployed by BTCC only replaced 8% of the lost nodes. In 4 years there will be none left and transaction and confirmation times which have increased lately to as much as 45 minutes, will become unworkable.

With RBT, every person who has an open wallet on the network is a 'node' to confirm the transactions and you are rewarded with free RBT for keeping your wallet open.

So as RBT expands, the number of nodes will expand too. This is directly opposite to what is happening to BTC and will happen to other 'mined' coins as the number of nodes decreases due to cost.

Get your RBT here     https://www.indiegogo.com/projects/changing-the-digital-currency-landscape#/

And join the revolution in cryptos before the world catches on

For all you coin mining diehards...a geography lesson

DENIAL is a river in Egypt ;D

BTCC's chief operating officer Samson Mow said that the company deployed the nodes in order to do its part in helping maintain the bitcoin network. The network has seen a 19 percent decrease in viable nodes over the past year to 5,280 at the time of publishing.

He did nothing of the sort... His company would begin to fail if he didnt do it... Its called self preservation
When his company starts losing profit, watch how quick those nodes get pulled....

Ok all you BTC and altcoin mining enthusiasts. Here why mining is doomed to fail. It is simple physics or math.

The difficulty of mining new BTC increases every month or so, give or take. That is why a person who could get bitcoins with his PC in 2009 cannot get any without an ASIC miner.
But even these now become obsolete in about 3 months and become an expensive door stop. So the mining which is necessary to confirm the transactions is being done by fewer and fewer people now with 95% being huge farms with millions of $ of ASIC miners working.

The smaller guys are falling by the wayside as the cost of new miners cannot be recouped by the time they no longer work. Thus the 19% decrease in nodes in 2015 above.

Why can't the ASIC miners keep up? That is the big flaw in BTC and other mined coins as it will happen to them all eventually.

Moore's Law stated that the computing power of processors doubles every 18 months, but it has been modified to every 2 years since 2000.

If we assume that the difficulty in the calculations of the algorithm for mining BTC increase 10% per month (and it may be more as the ASIC machines last only 3 months before obsolescence.)

So here we are on Jan 1, 2016 and we have our $5000 ASIC miner. It is useless by March 31, 2016. How powerful an ASIC miner do we need by Jan 1, 2018 (2 years later)?
The difficulty will have increased from 1 at Jan 1, 2016 to 1.1 raised to the 24th power which is 10 times as powerful as before to mine any coins. However by Moore's Law, the computing power can only double in this time.

At some point there will be no possible way to make any ASIC chips and miners that can mine any coins or the cost will be so prohibitive that no one will buy them. Are we nearing that point now, 7 years after the launch of BTC as the nodes are fading away? In the 7 years, the difficulty has increased from 1 at baseline to 1.1 raised to the 84th power = 3000x

Think about that and see the genius behind RBT. No mining, every wallet is a node confirming transactions, and every wallet open to confirm transactions mines free RBT.

Which is most likely to happen RBT increase to $10 or BTC collapse to $10? They are both going to happen and are equally likely.

Get your RBT before the world catches on and BTC craters

Thats exactly what we saw, way back in 2013 and then announced it, only to be flamed for saying something so ridiculously wrong...

But we knew we where right and in 2014 we put together Rimbit and again, fell under attack from forums and even Newsmedia that made many false assumptions topped with ridicule!

So its 2016 and looks like we where right all along!

http://s23.postimg.org/rxv51viwr/logo.png

It is just the way it's gonna be. Right now, BTC is living its golden age. Soon there will be a need for new coins without mining and Rimbit is the better solution that I can see right now... And for a long time to come!

I think it HAS lived its Golden age.... Its now heading in the same direction as the Incas... The gold has vanished and so has the culture and the only ones still digging are the likes of Indiana Jones, for the scraps that are left

Every Friday night, we have our Teen Rimbit members (We setup a Teen section on our forum), who are on Twitch and also send out Rimbit to followers.

Its a fun evening and worth watching, so I welcome everyone and if you are a gamer as well, we also have a Rimbit Team on Steam

We are starting this in anticipation of duelling head on with other "Coin Teams" for some fun and of course, serious competition.

You can visit the Twitch Streams

http://s11.postimg.org/esf4uix6r/Twitch_banner_Bubbi.png

https://www.twitch.tv/bubbistream

and

http://s16.postimg.org/6xigqerxh/Twitch_banner_Lefalaf.png

https://www.twitch.tv/lefalaf

Hope to see you there next Friday (Denmark Time)

You can view more about the games etc here http://rimbit.com/forums/rimbit-4-teens.65/

I like the this concept you have a very good point but does every here knows this,we need people who will promote and propagate this,almost every day we see new coins that are pow and pos by nature ,honestly I am promoting this algorithm  on my directory only time can test how good Rimbit systems are..

Hi, I wandered here by accident but found this coin simple and to the point.  I was not understanding -  if you  start with a zero balance in a wallet will earn interest at some point just for being an open wallet? 

I dont understand, with no mining how do you securize the network? I do like the idea of no mining tough, yet id rather do a proof of burning stake system.

You earn interest on the amount of Rimbit you are staking... So if you have a balance of 0, then you are staking 0 Rimbit and getting 0 Interest...

The open wallets do all the confirmation and verification, much like Bitcoin was able to do so, in its early days.

Rimbit knew this would happen in 2013, so against the Status Quo, we took all the abuse, ridicule and flaming on Bitcointalk and Cryptocoinsnews (New Media) and built Rimbit for just this day.

In an Article posted by Cointelegraph:

Should you dump Bitcoin and go out with a new cryptocurrency? Amanda Johnson of The Daily Decrypt thinks we should get over BitcoinCT r:  8 and push altcoin adoption instead.

Bitcoin’s block size limit issues have caused significant transaction delays and fueled fears of it eventually becoming unworkable. This threatens its prospects for future adoption by the general public, and block mining by nodes that would allow double the block size has stalled. Meanwhile, various other cryptocurrencies have remained largely unaffected by Bitcoin’s woes, and some, such as Ethereum, have even flourished.

CoinTelegraph spoke with Amanda Johnson, host of the cryptocurrency and decentralization show The Daily Decrypt, about the path forward for Bitcoin, and possibly abandoning it in favor of its competitors.
Open-source spirit

CoinTelegraph: Do you think the block size limit will be the end of Bitcoin? Do you think it will be the end of Bitcoin's hegemonic dominance?

Amanda Johnson: Potentially -- primarily because it indicates a disinterest among the network's decision-makers to compete for customers. Several other cryptos have made remarkably useful technical advancements, and almost any of them could have been copied and incorporated straight into Bitcoin. That is the very spirit of open-source - you share your advancements with everyone, and then you get to copy everyone else's advancements yourself.

But there is still a lot of "Bitcoin maximalism" going around, which means many users of its network believe it is specially ordained by an invisible power -- is somehow destined -- to become a global main chain forever, amen. But markets always root out this kind of magical thinking. It's just a matter of time.
Not all altcoins created equal

CT: Are altcoins a viable solution in the short term?

AJ: Not all 'altcoins' are created equal. Each one is different and has different potential. If any of them starts gaining traction, which several already are, they won't be "short-term" solutions. They'll be the *new* solutions. And if their decision-makers then act like maximalists themselves, they'll be replaced by other upstarts, and so on and so forth. This is the story of technology.

Whomever serves consumers best, fastest, and cheapest will become market leader. This with the caveat that security is of the utmost importance, because all the fast-and-cheap transactions in the world mean little if a network's blockchain is defrauded with an attack.

Source: http://cointelegraph.com/news/amanda-johnson-of-the-daily-decrypt-break-up-with-bitcoin

http://s7.postimg.org/s38s86va3/Rimbit_first_interest.png

There are a lot of coins with POS algorithm Rimbit is not the only one but what make sit different is their community I have gone to their community and they have a strong community and they have a lot of plans for the development of this coin..

POS is just the system we use, because it makes sense to us... So was removing the need to have coins mined....

We concentrated on building a good community first (took 2 years to get where we are, with a few mistakes along the way)....
And we let the currency, just be a currency.. It goes from one place to the other....
But the biggest and most controversial aspect is the mining was removed and another distribution system had to be put in place... and we spent a long long time trying to figure out a solution...
Just that aspect alone has made it very hard to not only get developers, but also get the crypto community involved and that is why if you visit the forum, most members are first time users of Crypto..

And because they are, they are the ones getting Rimbit at the best price, because as more news leaks out about "mining, killing bitcoin" then as Rimbit starts to get noticed, so to will the price increase....and they will be just like the early Bitcoin adopters and reap the rewards....

Thanks for the reply and added commentary.  I understood POS was in place, I miss read on the need to have some amount in the wallet to stake.  I thought even with a zero balance at some point you might get a minisclue amount just for having the wallet opened and up to date.

Anyway, it is sunny out, have a great day.

The exchanges Rimbit is listed on are found at https://coinmarketcap.com/currencies/rimbit/#markets

Strange how people are holding onto Rimbit though... We waited a long time to get on exchanges...

We are looking forward to getting listed with some of the bigger exchanges over time, we will see Rimbit being traded on more exchanges...

We are putting together our own Exchange, but that so we can directly help users with support, both on the site and our forum...
Just makes sense to have it run internally, so we can manage the financials to make sure the exchange is run efficiently and without the MtGox/Cryptsy issues and pool funds directly back into development

Small updates to the ANN main page  ;)

Joined the forum as I just recently found out about this. A long read but definitely a refreshing one as there are no altcoins out there doing the same thing (AFAIK).

RBT has been simmering along for a couple of years, slowly gaining adherents and having a story to tell about a better coin as mining has been eliminated. This is a new concept just like BTC was when it came out. It took 3-4 years before enough people had heard about it and understood the 2 concepts of mining and crypto coins. Then the price took off to the stratosphere.

 Once the concepts of mining and coins had become known and accepted, followers like LTC, ETH, only took a year or more to gain widespread acceptance and the developers stuck with the coins. There are many other coins launched that were 'pump and dump' coins that fleece the public. When the developer gets his money and abandons them, they are doomed to be 'failed coins'.

 RBT is different in that it is not mined. So we have a longer period of consolidation due to having to educate the public of the advantages and long term viability of this concept of no mining vs mined coins. Mined coins will eventually bump up against Moore's Law and will not be able to continue. BTC is approaching this point now after 7 years with smaller miners ceasing operations as they are losing money. Once the last miner turns out the lights, BTC is worthless, and the other coins will just be a few years behind until they hit the wall as well.

 We are 2 years old now, and I think the concept of everyone's wallet minting new RBT and confirming transactions is starting to gain traction. Our developer and leader CyberHippie has stuck with his coin through thick and thin (heart attack included). We are still simmering along (light a great sauce) but eventually the heat will be turned up and RBT will boil over like ETH above. :)

Hi Dekker3D..welcome to RBT, the gold standard of cryptos as no one can control it..not miners, not evil organizations (Bilderberg) nor governments. It is a true community coin

Registered here
http://www.rimbit.com/threads/join-the-forum-and-get-100-rimbit-to-get-you-started-then-more.1867

And got the 'starter pack' as I call it. After reading the articles on your forum, I'm convinced that this coin has a good future. Can't wait for the next announcement :)

I know you diehard miners are convinced that RBT is bad idea because it isn't mined.

However, if I am right about Moore's Law and that the mined coins are doomed to failure as the ASIC chips cannot increase computing power quickly enough to continue to solve the algorithms, then what should you do?

How many of you have a little gold or silver, just in case the fiat currencies collapse?

RBT is the same for cryptos. It cannot collapse as BTC and every other mined coin is destined to do. So be prudent and buy some RBT or trade some BTC for RBT on the exchanges.

Don't be kicking yourself in the butt as RBT becomes equal to BTC as RBT is rising and BTC falling. Right now you can get about 40,000RBT for 1 BTC

Buy RBT on IndieGoGo   https://www.indiegogo.com/projects/a-digital-currency-that-is-built-for-everyone#/story

You can also get RBT on C-Cex, usecryptos and Yobit exchanges

I would like to ask this for the benefit of the readers so Rimbit is 100% premine "Premine 100% - (The only way to distribute a minerless crypto... funds used to maintain operations and continue development while avoiding corporate influences)"

so it deviate from the Satoshi Nakamoto's concept of decentralization since only some groups control the whole Rimbit coin..

Many people here shows dissatisfaction when devs announced 1 to 10% premine of ther newly launched coin,what more if 100% is premine

Your exactly right and way back in 2013-2014, we looked at every angle we could to avoid premine and still provide a minerless system.
If RBT was issued free, how would it be issued.. what incentive is there to leave wallets open for minting?
The only solution was to give it initial value and control its distribution via a transparent platform which is our Crowdfunding Campaign...
Which we where asked to Beta Test as "Continued Funding", which came at the right time and let us remain transparent.

So when Rimbit was launched, it stated and does so to this day, that at some stage, all of the operations will be managed by community leaders.
Already we have started breaking up some of the management, mainly in the software/hardware development operations.
We hope to continue breaking up more of Rimbit over time, until the point its 100% community owned..

We also sponsor members developments, one of which is the RaspberryPi which the beta testers are waiting on testing.
The software will be freely available for users who have RaspberryPi's and we also have pre-built Pi's fully configured and ready to run once they are plugged in, with cases custom 3D printed.
The files for printing the 3D cases are also freely available at https://www.tinkercad.com/things/c1aeovbC1ev-rimbit-pi-case-complete

You can see the Pi being tested at https://www.youtube.com/watch?v=lLw0lLQDOhI

As for Satoshi Nakamotos concept of decentralization, thats already been defeated the day people had to move away from GPU mining to ASIC mining, which was then controlled by the ASIC manufacturers, who actually mined using customers machines in some instances... then ASIC miners essentially moved to China were it is now well over 51% controlled by them.

Now that is failing and miraculously, a China Exchange volunteered the expenditure of establishing nodes to prop up the Bitcoin Network... and did so for humanity...
Lets see how their humanity works when they have manipulated Bitcoin as they need and when they have had their fill, watch how quickly those nodes are pulled from the network!

It is 100% premined, and you just purchase what you want on the IndieGoGO campaign. What could be simpler?

The funds received on the sales at IndieGoGo provide funding for development of new enhanced wallets, servers to run the forum, salaries for developers etc., funding to develop the RimbitPi etc

The stated aim of the developer is to turn future development and running of the Rimbit ecosystem over to the community.

Despite what the original hypothesis of Satoshi Nakamoto's concept of decentralization, it no longer is decentralized as 20 mining companies now control 95% of BTC and they can easily be taken over by the ChiComs as most are in China.

Rimbit is totally decentralized. Your wallet with 10 RBT can provide confirmations just like someone else who may have 50,000RBT

In my opinion this is a corporate managed company,you premine all the coins and sell it to people who wants to profit from the coins  it just like a stock,people are buying stocks from the people or groups who holds all the coins,and get a future profit from holding it .,

You have a good concept but it deviates from the true concept of decentralized,

Agreed 100%.... In fact I have said we are 100% centralized and moving over to 100% decentralized and Bitcoin is 100% decentralized and is moving over to 100% centralized...


With Rimbit it will be handed over to the people to manage... Which we are just starting to do.... Something I also stated on day one of the launch....
On the forums now, many decisions are made via public consensus/polls and they will increase in numbers as more of the management is done by the people on the forum.
And its people like you from a background of Bitcointalk that has started to fuel discussion on our forums, something that we have been lacking for a long time and grateful that it is happening now :)

We don't need a mining pool as it is not a mined coin.

We are on C-Cex already.

Its a PoS coin.. I know.

But do you know what a multipool is?

Lets you mine the most profitable coin, and get that exchanged to your coin automaticly.

What you mean by "the most profitable coin"?

I am only guesstulating, but I think it means that you mine the coin that will get you the best return for that period of time that you mine.

How it automatically converts back to Rimbit has me lost.... Unless they have a stash of it for transfer, as you cant get it any other way

Come on people, be a part of a world changing development.

 Rimbit will be the universal currency for the next millenium (and probably longer, but I doubt I will be here to experience it myself)

 As Steve Jobs famously told John Sculley of Pepsi when he was trying to get him to move to the CEO position at Apple..

Do you want to sell sugar water for the rest of your life, or do you want to come with me and change the world?

 So it is with RBT, do you want to continue with a sure to fail mined coin or coins or change the world with a better coin that cannot fail.

 This is the opportunity we are giving to John Q. Public. Join us and be a part of something special that you will be able to tell your grandkids, I helped get Rimbit into the mainstream.

We are approaching our 2 year anniversary which is on 23 March and from now till the 23rd, I will be handing out free Rimbit randomly on the forum for new posts and even older posts that are funny, controversial, helpful or simply good  ;)

So you basically premined 100% of the coin.  Sold some off in a crowdfunding and have been selling whatever you can on exchanges ever since.  You keep bumping the thread and deleting posts hoping someone will come along and think this is something to invest in and buy more of your premined coins. 

How does that benefit anyone but you? 

Available Supply:  113,988,941 RBT   

Total Supply:  391,948,674 RBT

Anyone can make a 100% premined coin, promise the moon and the stars, and sell to anyone foolish enough to buy.

https://github.com/Rimbit/Wallets/blob/master/README.md (https://github.com/Rimbit/Wallets/blob/master/README.md)

Rimbit is derived from NovaCoin and has:

8 minute block targets
380 million initial coins to be distributed.
10% interest for roughly one year and then 5% interest.
100% PoS after 1000 blocks.

380 million coins for you to try and slowly sell off and put the btc in your pocket for making a clone of NovaCoin.  Too funny. 

Not really... Its not essentially premined, it is 100% premined
Not sure what posts your refer as being deleted, but I would guess its just another unfounded comment
Again, not sure where you come up with Rimbit taking BTC... if you are referring to the exchanges we are on, it doesnt take a genius to see that no dumping is going on.

We tried to simply clone Bitcoin, as we think its a perfect coin, except we need the mining issue removed.
So we tested the clone and what happened is that at the end of the mining cycle, the coins regenerated an entirely new batch, meaning that at the end of Bitcoins mining, when the last Bitcoin is mined, the code will generate another 21 million coins. This can easily be tested by anyone, by just changing some settings and running the coin to its end... then wait.. then get another 21 million... When we did it, we thought it would only loop the one time, but when it looped for the second time, we shut it down and decided that we couldnt use Bitcoin as the platform

This was reported to Gavin Andresen and I was informed that this is a known issue and Quote" The next generation can figure it out"
EDIT: In the email Gavin sent to me, he quoted a github link, which I should have included, when I posted this reply, but here it is.. https://github.com/bitcoin/bips/blob/master/bip-0042.mediawiki

So we used a mix of various coins to overcome the duplicating issue of Bitcoin, plus the need to be minerless.

So I guess you are partly correct with the Novacoin comment :)

Sorry.. Second Edit: (I dont want to be accused of Bumping the thread all the time :) ) ...

It should be noted that any other coin running similar code to Bitcoin, may encounter this doubling effect, which when that point is reached, would essentially kill that coins value.
To be perfectly honest, I do not know if this bug is on SCRYPT or other...

The reason for self moderating is not to suppress opinions like yours... Its merely to stop foul language and unwarranted flaming.
We believe that Crypto should be handled and managed professionally and our forum at http://rimbit.com/forums/ also allows for difference of opinions... but with the same caveat that we do not allow flaming or foul language...

If you take any amount of time to vist the forum, you will know exactly who benefits and how Rimbit will be managed in terms of development, marketing and financial...

Another important attribute of Rimbit is that its not easily diluted as is the case with Bitcoin or even Etherium.

As people invest in Bitcoin, there will always be miners getting the Bitcoin for free, albeit at huge expense on a variable process of electricity, ASIC power etc...

Etherium also suffers the same issue as people paid to get into the ICO only to have their profits diluted by GPU mining later on.

So no matter how much is fiat purchased, mining will always play a role in the coins valuation

There is also a BUZZ WORD in the air called Asic Resistant... Basically keeping mining below the needs of ASIC chips...
But what for? Wouldnt the ultimate solution actually be.. miner resistant???

We think so and thats why Rimbit is minerless...

If you have read my earlier posts about Moore's Law and the difficulty in solving the BTC algorithms, I kind of guessed that the difficulty must be increasing at least 10% per month. My reasoning was there has to be some reason why smaller miners are going down and ASIC miners become obsolete in 3 months.

I found a couple of links to Bitcoin data showing the difficulty as it has changed from Day 1 in 2009, I was right and pretty close (at least in the last 2 years)

 So here is the ugly truth and the Achilles heel of mined coins and why they will likely all crater in 10 years if not before.

 In 2009, the difficulty was assigned a 1 and it stayed at that level through the end of January 2010. It started increasing in February 2010 to a 2, and then increased monthly since then. The current difficulty on March 15, 2016 is 158 Billion. This is a compound growth rate of 41% per month.

 This rate of increase of the difficulty in solving the algorithms has slowed in the last 2 years to about 13% per month. But this is still a quadrupling every year in computing power required. But even this is beyond the realm of chip manufacturing improvement.

 As you know, Moore's Law states that computing power of chips doubles every 2 years, so if we look ahead to 2020 in 4 years, the computing power increases by 2 squared or 4x. However, the difficulty will be increasing another 1.127 raised to the 48th power or 320x. This leaves chips only keeping up 1.2% to the rate of growth required.

How about in 2026, 10 years down the road? The difficulty is solving the algorithms and thus mining new BTC and confirming transactions will have increased another 1.127 raised to the 120th power or 1,833,000x while Moore's Law states that computing power will only increase 2 raised to the 5th power or 32x. Thus the computing power will only have 0.002% of what will be required.

 Unless they modify the growth rate of the difficulty, BTC is essentially finished. And other mined altcoins won't be far behind.

 So Rimbit is looking great. I originally thought that eventually there would be a few long term coins like BTC, LiteCoin, Ethereum, Doge and Rimbit, but from this data, Rimbit will be the only one left in 10 years.  :)

So get you Rimbit now before the rush. There is a current 2nd anniversary sale on at IndiGoGo until March 24th.

https://www.indiegogo.com/projects/a-better-digital-currency-do-you-have-some#/

Think of the power the miners will require to run the miners when the difficulty gets that high.
I can run my RimbitPi wallet for a few dollars each year. http://rimbit.com/forums/rimbitpi.47/ 

thorbjornb 1:03 AM - thorbjornb: GIVEAWAYS Im going live on Twitch at 20 pm CET (UTC +1) with rimbit giveaways on https://www.twitch.tv/bubbistream

thorbjornb 1:04 AM - thorbjornb: sry going live 20 CET (UTC +1) aka 8 pm CET (UTC +1)

Magnus Højbak Christensen 1:26 AM - Magnus Højbak Christensen: Okay guys im live now! Tune in!!! http://www.twitch.tv/lefalaf

I am on the Stream Now...
Teen Rimbit is now playing "The Culling"
https://www.twitch.tv/lefalaf

There are some technical issues and a tad of lag...  :D

Rimbit will be given away during this stream

4 more days till the secret special is over and we will be removing the secret link from the forum

Great to see Etherium doing what it is, however, being ASIC resistant is not as good as being Mining resistant, like Rimbit is.

I have been doing some trade with Bitcoin and have found that confirmation are horribly slow... I think this maybe an effect that we knew would happen when mining became a wasted effort

The secret special is great value - go for it whilst it is still available!  If you buy and do not like then you can easily sell on C-Cex and other exchanges.  Imagine how much you will kick yourself when Rimbit  takes off like ETH has and you did not buy in :)

And it will! Now, everything is on place for the take off. You don't want to miss this opportunity. In fact, we're talking about spare change right now. It's nothing for what you'll get back.

I don't like much that forum. It's old and I can't use my old tricks to stay logged... Anyway, my last comment was made using another username because the forum refuses me to loggin from another computer. :/ Now, I know that I have to logout on one machine before I login on another. It never happened to me on such great forum as the rimbit one (rimbit.com). And as a newbie... I can't comment twice inside a certain amount of minutes, which is just plain not funny. Ok, I had to say it.

cbreum, interesting concept! Yeah Rimbit will soon begin to be accepted as it is: the best cryptocurrency around. It does the same as Bitcoin less all the problems related to it. I don't see Bitcoin as an invader/attacker though... more like the father of all the ideas that just need an upgrade, and that is named: Rimbit! ;)

Hello I would like to ask I have 100 rimbits which I have gotten from a promotion I know that it is a proof of stakes but it's been over a week but I am not earning at all how many rimbit coins I need to start earning from staking..

It varies.  Which is not helpful for you.  But if you have your wallet on 24/7 then it will come through eventually.  I have a colleague who bought into that last promo like you did and they went for the secret perk too, but they are still waiting for their first interest to come through.

It will happen, don't worry. The coins has to get "older". :)

Ok I will be patient and wait for it to mature but I cannot run it for 24 hours the most hour i can run my pc is only 12 hours it's summer here and the heat might have an effect on my pc

Interest is earned per annum and its also based on coinage.

You dont have to have it running 24/7, but it will help if you just run it when you have the PC on.
You also need to make sure the wallet is unlocked.

We will be auctioning a RimbitPi very soon and it will allow wallets to be locked and minting, plus only requiring a few dollars a year in running cost, while running it 24/7

https://lh3.googleusercontent.com/proxy/0hxcdBN_UPyEK4MDrhN4iy5JFjr-QLsGIrEu-mnG9n5Uh3I9UvJsKpFypzio9Shr64O54DcrOPenK-sji2PCz78fISM0jl49hti1q9Z_8tU0AGpcpbo2aiXlLNVJ-Qq7dPDNLwaaebJKn-5yqwtURUBPeW5bcBTr27DbRYqN=w426-h296-p

Will it generate a lot of heat?

The Raspberry Pi uses very little energy, if you are not overclocking the cpu you should be fine. My kit came with a heat sink and I have not added this as what I am doing with the RimbitPi does not put enough of a demand of it.   

I think it's great that something concrete & tangible like this RimbitPi is a direct result of the Indiegogo funding campaign.  It adds a level of trust when people can be seen to be delivering on promises.

Can you say more about the RimbitPI? Can we just make our own PI computer and get the code?

I guess it's the same as having or pc/laptop on since it is POS. The only difference is it's cheaper to run the RimbitPi 24/7 than running your laptop/cpu. Correct me if I'm wrong though. And also it will be best if we can have some small computation of cost plus possible earnings if you have like 10000 RBTs.

I am sure I read on the forum that the code will be available (free) for downloading.  I do have an older Pi at home and I may try to set it up to run a wallet. 

Oh, cool. So everyone can make their own small computer and get interest in very low cost as I see it! And in countries where electricity is cheap, it is even a better deal then! Nice job team Rimbit!

There was discussion of adding a solar panel, the device! you could run it for free.
You can buy the Pi and the rest of the parts and make your own.
the needed code is on github.com

One of the benefits of distributing it our way is that it allows us to fund projects, such as the Pi project and develop the software needed to make it work.
We dont believe that developers should work for free, as is the case with some other coins, and having a funding pool, gives everyone incentives

------------------------ RBT ------------------------

Ive never really had much experience with solar panels...
Has anyone tried hooking one up to a Pi?

You would really need a battery too, to keep the interest coming 24/7, light and dark!

It must be do-able though I suspect the pay-back on the solar gear would take years as the Pi is so cheap to run.

I once used some solar panels on a fishing shack (far in the wood) and it was not that great of an experience... Well, I needed at least 4 slow discharge batteries to have lights in the nights... in that time, there were no led lights like we have now. Anyway, that is off topic, but the point is that technologies are better today, and I think that you can have a solar panel and a battery for not that much cash. What happens if the RimbitPi gets down for a long period? Is the wallet safe?

I just noticed that the Bitcoin Forum has more than 14 millions posts in 540,000 topics, and is claiming to have almost 800,000 forum members.

I have to wonder - for the poor person who has just managed to save up more than $400 US to purchase ONE single coin, how will their voice ever be heard?

I read your post so will the guy who purchase that one coin if he will posted here on bitcointalk I don't know what you mean by that post but we have equal rights to post here as long as it complies with the forum rules..

Well, I guess you mean that with one Bitcoin in your pocket and so much posts to read... you have to come a long road to make your point. I feel a little bit like this, because even if I am a rookie here, I certainly have some skills around. But, you have to build your reputation here and around too for sure.

Down to the last few hours of the "secret perk" for cheap Rimbit.  You have to go to the rimbit forum and click on the link there - you do not even have to register.  I think it is well worth a look at the forum and joining too but the offer is such that joining is not required.

So buy some RBT and either keep them and become wildly rich in years to come or sell them for a small profit on C-Cex and regret it this time next year if RBT= $10 :)

A quick search and there are several solutions you can have the unit power down on low power.
http://www.instructables.com/id/Solar-Powered-Raspberry-Pi/
The charger is @ $25 battery $15. you would build it for $50. This is more than the energy to runit for several years.
But the cool factor is worth way more

I bought some, this is a good deal... At least, I won't regret it in the next months if anything good happens. ;)

I think the point here is that Bitcoin has become so massive that unless you were in at the beginning and formed a close alliance with one of the main groups (such as Blockchain), chances are you will have no say in what happens with the coin.

What I do like with some of the smaller coins, is that everyone seems to have a say - from the veterans to the newbies.  Opinions count and opportunities exist to shape the future of the coins. No one person is more important than any other.  It's great - though perhaps a little more transparent than I would have expected.

So I suppose if I had $400 US to invest, I'd like to have a say in how my investment can best work for me - rather than having someone tell me how it's going to be.

yes it works with any new start up project or any crypto currency so if you are going to invest $400 you just need to look for a good project and a good devs team that will get the project a long way..

When I choose to invest in an altcoin, I prefer one that has a friendly community... Being part of the Rimbit community, I feel really like my words are well received and listened to. That will pay one day... too much greediness and anger may lead to the premature death of a coin IMHO.

There is a new contest underway on the Rimbit Forum at:  http://www.rimbit.com/threads/create-the-caption-contest.2363/

It's really straightforward, with the winner getting up to 400 RBT.

As long as you are registered on the Rimbit Forum you can enter (and registration is free).

If you're not registered, now would be a good time as these contests will likely continue.

There probably isn't an easier way to win free RBT.

I would add to that a dev or dev team that is trustworthy, honest and helpful.  I do not want issues swept under the carpet and ignored.  When mistakes are made or problems happen it is good to get the truth.  It instils confidence and that is something I have in Rimbit.

I would totally agree with both of you.

Not sure if you are aware or are following the discussion about the design flaw in BTC - where it loops and issues a whole new batch when it reaches the "final" block see http://www.rimbit.com/threads/coindesk-replies-to-the-bitcoin-issue-they-never-followed-it-up.2398/#post-5032 (http://www.rimbit.com/threads/coindesk-replies-to-the-bitcoin-issue-they-never-followed-it-up.2398/#post-5032).
 

The theory is that this is a problem but will not happen until 2125 so lets make ourselves loads of money and who cares about our children/grandkids.

I'm new to Rimbit maybe around a month old but what I noticed with this coin is that there's no more mining in it. The community is the one in charge of increasing/decreasing the price of Rimbit. But the biggest thing in being mine-less is that there will be no increasing difficulty and rewards halving that bitcoin miners are facing not to mention ever evolving expensive miners.

That is right! A coin that does not need a zillion dollars computer to mine it and to finally get almost nothing from. Plus, this takes out the issue we now know about Bitcoin.

Would it not be better to fix it now, rather than have this problem continue to pester Bitcoin. Can it be fixed?

Yes it can...
But it will require everyone exchange their Bitcoin for the new Bitcoin.. much like we did with Rimbit when we encountered that issue

------------------------ RBT ------------------------

Ouch - that doesn't sound like fun!  And of course the longer this goes on, the more challenging it's going to become.

So here's a question, and I'll use the example in an earlier post of having $400 to invest.

Looking solely at return on investment, in order to double my money would it make more sense to:


a)  invest $400 in Bitcoin and wait for Bitcoin to increase in value by another $400,

or

b) invest $400 in Rimbit and wait for Rimbit to increase in value by ONE cent?


In both (a) and (b), the end result would be a gain of $400, but I'm wondering which would be the better bet.

Ok, all you mining diehards..here's 7 reasons why Rimbit makes more sense as a universal currency than BTC

1) Your wallet on your own PC is your own bank. No need to store your RBT on Mt Gox and risk having them stolen.

2) All confirmations are down by the user community wallets, not centralized and limited to only big mining farms.

3) When you help confirm the transactions in #2 above, your wallet earns (mints) free RBT at a rate of 5% per annum. With BTC, only the mining firms earn free BTC.

4) RBT is becoming more and more decentralized as more people buy RBT and get their wallets. BTC however is rapidly becoming more centralized as the cost of setting up huge mining farms is in the millions of $

5) RBT transaction confirmations are getting faster and faster as more wallets come online. BTC confirmations are slowing noticeably recently as the number of nodes is rapidly decreasing.

6) The difficulty of the BTC algorithm is increasing so quickly, that in less than 5 years, it is likely no computer will be able to solve them and BTC dies. RBT is just purchased from IndiGoGo crowd funding site.

7) BTC wallet and software upgrades have no funding source, so there is no way to fix problems or enhance the wallet. RBT gets funding directly from sales on IndieGoGO in #6 above and uses the funds for wallet upgrades, enhancements and developments such as the RimbitPi $200 nifty hardware wallet.

Get your RBT now!   ;D

 https://www.indiegogo.com/projects/revolutionary-and-established-digital-currency#/

8. BTC will soon be using as much electricity as Denmark! Rimbit can run happily on old PCs / Pis etc http://www.extremetech.com/extreme/225660-bitcoin-could-soon-use-more-power-than-denmark-but-help-is-on-the-way (http://www.extremetech.com/extreme/225660-bitcoin-could-soon-use-more-power-than-denmark-but-help-is-on-the-way)

The fact that Bitcoin has any value is largely because of the PoW mining process.

Do you know why POW mining is fair? Because it allows outsiders to get coins WITHOUT BUYING THEM FROM A CURRENT HOLDER.
Premine 100% ? What a fucking joke. Do you seriously think there is any future to this setup.

And BTW, why the name? Do you know what a RIMJOB is??

Really? An outsider can mine Bitcoin?  Perhaps if they are a billionaire then they can afford the electricity and the computing power needed.  But of the worlds population maybe a very small fraction of 1% could afford that.

I agree there are problems with PoW mining and how it becomes more centralized as it gets more expensive to mine. But what RimBit is proposing is not a solution lol.

100% Premine = 100% Scam

I totally agree with you with premine of all the coins there is one group that can control it all there could be a better solution to these problems except 100% premine equal distribution is the best solution and there are coins and new coins that has this algorithm

  For a moment there, I thought there was an intelligent comment coming.  Then I started reading.

The PoW process is what will sink Bitcoin. 

Mining is consuming enormous amounts of power, it is controlled by just a few companies who can afford to spend tens of millions in mining equipment, and is the reason why BTC transactions are taking hours to process.

You think that outsiders can get BTC from somewhere other than a CURRENT HOLDER?  Name one.
YOU can't mine Bitcoin.  If you could, you wouldn't have enough electricity left over to post your messages!

Oh, unless I suppose you're bigger than Denmark ... http://www.extremetech.com/extreme/225660-bitcoin-could-soon-use-more-power-than-denmark-but-help-is-on-the-way

BTC is a pretty good coin which is why it has seen success.  But, there are flaws in it's design that some of the biggest BTC holders have known about for years.  It can be fixed, but they don't want to because it would require a massive amount of work and the public acknowledgement of the problem would drive BTC prices into the ground.

Either you don't know, or don't want to know, that some of the biggest holders of BTC (the ones who are controlling it's future) have huge stockpiles of BTC that they can cash out in 2017.  How many problems do you really think they want to acknowledge before they have their billions in cash?

 

  As premined coins hit the marketplace, it's the market that determines the price, not the original miner.  So yes, the original miner could try to sell coins for more than the market price, but depending on his asking price, he might not be very successful.

I agree with you that the mining of PoW coins becomes more centralized with time ... but this also means that by default, the processing of transactions also becomes more centralized.  That's the problem you've been seeing with Bitcoin for the past months - transactions are now taking hours to process, unless you're willing to pay a higher fee.

I don't think anyone is saying BTC is all bad, but there are a few significant well-known issues that need to be addressed or the coin will eventually fail.

To this, you can add that the Rimbit community proved to be a warm welcoming one with members from different spheres of interest. That adds to its intrinsect value as a cryptocoin.

There is no innovation or idea behind this currency. They just selling their Pre-Mine Coins.

I'm new here and own Bitcoin, Ether and Rimbit... so I've made money on Ether and Rimbit, nothing on Bitcoin, I bought Ether in Jan at a Dollar plus and I make 5% on the coin with Rimbit... so tell me why Bitcoin is so great?

Why do you think Rimbit not providing a solution? and why do you think all pre-mined coins are a scam?

I agree that in nearly all cases, premine is a bad idea...
But thats only considering that the crypto community has a trust issue, can be very immature and like many companies built around Bitcoin, have failed time and time again

Rimbit is solid and we have 2 years of proof that a premine can work and as time moves on, we will only get stronger as other coins die off, like Bitcoin... and I am sorry to say that, as I was a miner at one stage, mining Bitcoin until the day that I couldnt afford to buy anymore ASIC miners...

Etherium is a great concept, but ask a blue collar worker anywhere in the world if he wants to do a contract for whatever... the answer will be.. "What".... "I just want to send some cash to someone else"

That's a good point! With Rimbit, I've made about 40% in plus value of my investment since I bought my first coins. I've also lost money with Bitcoin.

Perhaps they dont keep up with the news about Bitcoins problems and mining in general?
If they did, they just might cross over to the logical side.... and leave the dark side to suffer its own demise :P

I think you are indeed a newbie in the crypto currency to say that,every body here are making money on bitcoin if no one is making money then this forum is not existing anymore and so are the traders I think you do nt what bitcoin is and how it works all you know is just how to buy a premine coin..

Cool, I would be very interested to be educated on how to make money with BTC. If you are talking about speculation, it's not exclusive to Bitcoin. In fact, a lot of altcoins have more potential that Bitcoin, including Rimbit. If you bought Ethereum for a fraction of a dollar, you now know what I mean. Rimbit is another coin that has that potential, giving that it is still cheap and it has eliminated the flaws that we can find in other coins, including Bitcoin.

There are a lot of stuffs online about bitcoin only I think you are saying this because you are always late on the pump you don't have to worry bitcoin price will soar up to $10,000 each while your rimbit will go up by a few cents I'm not the one who says that experts did

https://foundersgrid.com/bitcoin-price/ (https://foundersgrid.com/bitcoin-price/)

Rimbit is as close to a pure currency as possible. It can be used for other blockchain functions, but if someone is looking for a stable crypto to provide financial services, Rimbit is the answer.

You keep your rimbit on your own PC and thus not worry about some storage place being hacked a la Mt Gox

You earn extra rimbit (minting) on your stake in your wallet be keeping your wallet open and helping to provide confirmations of transactions.

get your RBT here on IndieGoGo  https://www.indiegogo.com/projects/a-better-bitcoin-will-you-wait-till-its-to-late#/funders

There are a lot of stuffs online about bitcoin only I think you are saying this because you are always late on the pump you don't have to worry bitcoin price will soar up to $10,000 each while your rimbit will go up by a few cents I'm not the one who says that experts did


Sure and some experts can say BTC will got to $100,000,000,000,000 too. But that doesn't mean it will happen.

These experts are knee deep in BTC and can't afford for it to go down to $100 or $10 or $1 which is what it will do when the difficulty exceeds the ability of the ASIC chips to keep up.

Then why they are called experts if they are going to make a mistakes, after all whether we like it or not Bitcoin will likely go up as predicted ,I know you want to bitcoin to be beaten because your rimbit is the one that will take a gain from it ,but sorry Rimbit cannot equal bitcoin in terms of value..

Other experts are saying that Bitcoin has only a few years left.. others are saying that the elecricity usage is about to equal that of the entire country of Denmark

It doesnt matter what experts say, because each and every one of us has a brain and by adding 1 and 1, we know the answer without some expert to tell us.

If people think that ASICS, mining and electricity are what make a coin.. then good on you... The rest of us are just looking for something simple to send from one point to another... without the baggage that mining brings.

This "article" was written in February 2014, so if I watch the chart for a one year up from that date, Bitcoin went from $854.37 to $237.54 with a low at $177.28... So far so good for you expert's $10K prediction.  ;)

If Rimbit goes up by a few cents to say 10 cents, then if you invest $1000 today you will have $10,000 - not bad!!
BTC will go up and down between $300 and $3,000 then you can make the same.

Which is more likely to happen?

I think it more likely that BTC will go from $400 to $40

Rimbit prices are now to be revised every Friday. Price to be based on exchange markets (C-Cex, Yobit etc) and about 10% higher than exchanges.

As the price and volume has risen this week in the range of $0.014 to $0.017, I expect the IndieGoGo price to reflect the higher sales prices on exchanges.

Don't be left in the dust. Get some RBT now.

https://www.indiegogo.com/projects/a-better-bitcoin-will-you-wait-till-its-to-late#/updates

Rimbit is prob the biggest Joke in the cryptocurrency world!!! as well as one of the biggest SCAM's . make a cheap clone POS shitcoin , premine it all and then sell it to ignorant fools who dont have a clue about Crypto's who believe the spiel that its the revolutionary new money of the world and will overthrow Bitcoin in no time!!! What a joke, at the end of the day its a crap POS coin with absolutely nothing going for it that the dev premined and sold at a rip off price!!! There are countless other POS coins that werent distributed as an outright scam and actually have innovation and amazing features, why on earth would anyone be interested in Rimjobs in any way. Its such a joke!!! And the fanbois on there lol, if you want a great laugh go check out their forum and videos, its highly entertaining shit!!!  :) :) :)

Thank you Zebedee23 to take your expert precious time to come here and educate us in that really polite manner. Reading your post really make me think you are the One, no doubt.

With Bitcoin soon to be having the same electricity requirements as the country of Denmark, it certainly looks like it will soon be doomed.

Its exhausting the limits of ASIC's and now it looks like it may need its own nuclear station just to keep on running... and after that, what will it need to continue?

http://s23.postimg.org/9t6ob9ztn/nuclear.jpg

What all these detractors keep forgetting is....

And I will make it easy for them to understand...

Q: What coin does not need a miner to confirm and verify a transaction?

A: ............................

And that makes it unique to....

Q: What coins need miners to confirm and verify transactions

A: ............................

Why they keep saying its just a clone is beyond me... Either they do not have comprehension skills, or find it difficult to read...

How many coins apart from Rimbit can continue verification and confirmation just from a wallet and not via mining, once they have all been mined?

I can delete that post from zebedee23, but I will leave it to show the ignorance of the person  :-\

For those that are curious to know why we removed mining... and why it is essential for Bitcoin and most other coins to continue the mining charade... Its in the video below...
Here is a video, created by the Bitcoin people that explains it https://www.youtube.com/watch?v=GmOzih6I1zs
Be aware, that this video was made in 2013 and now more than 95% of the Bitcoin network is now managed by ONLY 21 Private Companies, mainly based in China... Go Decentralization... YAY  ???

-------
Its all FUD anyway... thats how they roll ...  :D

No problem, im always happy to help others and spread awareness. enjoy your Rimjobs, keep sending your cash to that scammer in Chang mai & trying to pull more fools into your pathetic SCAM!!! :)

Scammer you dont seem to get that many people in the Cryptocurrency scene think mining is a bad idea and there are many coins that dont use mining , It's called Proof Of Stake , & many of those POS coins actually have serious technology and innovation, Rimbit has nothing, it is just a cheap clone with a few little changes and a big revenue stream heading in 1 direction. & you then make a thread asking for corporate backing lol what a joke!!!!! Only fools who know nothing of Crypto wouyld back this scam. Dont send yr money to this scammer!!!!!

What a moron you are.

Besides BTC requiring all the power in Denmark to continue beyond 2020, the ASIC chips can never keep up with the logarithmic increase in power required to solve the algorithms.

Why do you think so many miners have shut down? It isn't that they were making so much money that they retired.

what are you on about i dont invest in coins that need to be mined by all the power of Denmark , or 1;s that need ASICs. But i also dont invest in cheap POS clones like Rimbit that dont have any innovation or smart technology and whose sole aim is to funnell money$$$ to 1 person in Chang mai, no that is whats called a SCAM in the real world!!!

And what are those coins with many innovations you invest in may I ask?

OK don't buy RBT. Hey it is a free world, buy or invest in what you want to.

However, Rimbit isn't a scam or the developer would have shut down long ago with the money from indieGoGo.

I am sure that this super intelligent being is invested in sexcoin, porncoin, hempcoin, dimwitcoin and idonthaveacluecoin

It is better because it makes sense..

wallet on your own PC won't get stolen like Mt Gox

Mint interest at 5% per annum for helping to confirm transactions,

becoming more decentralized instead of BTC which is rapidly becoming a Chinese commie coin

I didnt gave any fux about rimbit but when i see you fud with so much passion i can see its worth checking.
Edit: Yet after i see what that guy is saying im retracting a bit.

Rimbit price to be reset tomorrow on IndiGoGo

It will probably increase as the exchange prices are about 20% higher than current perk prices.

Get RBT today

https://www.indiegogo.com/projects/a-better-bitcoin-will-you-wait-till-its-to-late#/

Toucan, we can at least assume he is not really wise... he could actually make money with Rimbit, but instead, he prefers using bad language and insult everyone who own some. Rimbit is not a scam, it's an alternative, like any other altcoins. Acting like this, he does affects his own credibility, not the Rimbit's one IMHO.

@ Zebedee

No i just enjoy laughing at FOOLS and calling out SCAMMERS

I just heard your mother calling little boy. Time for your afternoon nap and diaper change.

And thanks for doing such a public service. All the RBT people are mature adults who can think for themselves and don't need a turd like you to tell us what not to do

This business model is sure is a good money maker for me,premine all the coins then sell it off to people i think this is the easiest way to make money and I'm thinking of setting up this business model but why you did not made it 5 billions instead you opted for millions ?

Not so numbnuts.

We don't get paid for posting here or anywhere else.

Give it up and go play in the litter box

Well this thread took a turn there  :o

Out of interest Zebedee, you have been to the website of Rimbit - what did you think of it?  Good and bad!

I would like to know how many minimum coins you need to make a good profit from staking Rimbit wallet I am staking a few coins and would like to know how Rimbit is since it has a very good price on Yobit where I have some few funds to collect..

I do not think there is a minimum to mint interest. The rate is 5%.

The larger your stake and the longer you leave your wallet open, the sooner you may get an interest payment.

You will not receive any interest if you leave your RBT on Yobit or any other exchange..only in your own wallet on a PC

@robelneo. By the way, welcome to the Rimbit community. We are happy to have you here and join the forum, it is very active and as a community coin, everyones input is encouraged.

http://rimbit.com/forums/

You will also get good deals on other exchanges: C-Cex and Cryptopia so to name them. :)

I have not read about any minimums either

Rimbit volume on exchanges jumped way up to about $2500 - $3500 daily as more people taking interest in the concept of a minerless coin, that isn't controlled from commies in China.

The IndieGoGo price is going to be set by the community and likely will start to rise, so get some now. Don't be looking back in 90 days and wishing you had bought some. It can also be purchased on several exchanges - C-cex, Yobit and Cryptopia

https://www.indiegogo.com/projects/get-into-crypto-its-not-as-hard-as-you-think#/funders

There are also a lot of coins that are 100% premine and are stakes in nature but the 5% interest is quite low don't you all think I have one coin here where the reward is 100% ,why did you not increase the staking rewards to benefit all the holders?

It was 10%in year 1.  But there is no reason that it cannot be suggested to the rimbit forum for discussion.

It could be modified in the next wallet, but 5% seems to me to be a reasonable number.

Too much 10 - 20% interest and it will end with inflation and a falling value for RBT.

Too low 1-2% and it isn't worthwhile to even have interest.

Robelneo, I invite you to join the Rimbit community (rimbit.com). They are really opened to suggestions and they will answer you for sure if they think otherwise. What is the coin with 100% reward?

The first poll as to what the price will be on IndieGoGo will be on Friday April 22nd. Forum members will get to vote on what they think the price of RBT should be set at.
What a fabulous idea, a truly community coin.

You can join the forum now and get set to vote if you are not a member already.

http://rimbit.com/

Rimbit poll on forum, so the community can vote on the new price for IndieGoGo RBT sales, will begin in less than 6 hours and run for 1 day.

http://rimbit.com/

get Rimbit now before price rise...   https://www.indiegogo.com/projects/get-into-crypto-its-not-as-hard-as-you-think#/

The poll has been posted on the suggested new price for RBT sales on IndieGoGo.

Check it out and see how a real community coin works.

http://rimbit.com/threads/weekly-poll-for-igg-price-april-22-2016.4386/

Voting going on now and it looks like the IndieGoGo price will be raised to 2 cents or more per RBT

You can still buy at the current price of 1.5 cents per RBT, so take the plunge, join the RBT community and see an instant increase in your RBT value when the price is raised after the poll ends in 12 hours.

get Rimbit now before price rise...   https://www.indiegogo.com/projects/get-into-crypto-its-not-as-hard-as-you-think#/

It was Bigup got 4 million from it already made 500% profit one of the best thing about it is I am getting up 60,000 coin rewards from staking their wallet,it's one of the main attraction or perks why people are staking this coin..

The problem with a 100% interest per year is that the number of coins doubles every year and soon they will be worthless, just like a fiat currency with 100% inflation.

How can that be a good thing?

The next weekly Rimbit poll for price on IndieGoGo will start in about 5 hours and run for 24 hours.

This is what a community run currency looks like!  ;D

Rimbit has been added in alcurEX.
RBT-BTC market:  https://alcurex.org/index.php/crypto/market?pair=RBT_BTC (https://alcurex.org/index.php/crypto/market?pair=RBT_BTC)

Welcome
-halibit-


https://i.imgur.com/PeGCkdp.png (https://alcurex.org/index.php/crypto/market?pair=RBT_BTC)
ALCUREX is an financing company registered in Finland

Rimbit trading at 2.9 cents on Alcurex...pretty good volume for a start on a new exchange

Time to look at the Bitcoin difficulty again.....

Check out this post on Rimbit forum with graphs.

http://www.rimbit.com/threads/bitcoin-difficulty.4552/

A further comment on the flaw with the BTC difficulty going straight up in a geometric trajectory.

Satoshi Nakamoto or Craig Wright or whoever he is may have been a computer genius and I will give him that.

But he must have flunked elementary math or be lacking in common sense to set the difficulty on the geometric progression that it is on.

This flaw will destroy his coin and all others using the BTC mining system.

I don't know how he will sell his million BTC, but if he tries, the price will collapse.

So what makes this coin so great?  Rimbit didn't remove mining.  Those who launched it just mined all the coins themselves and then put them up for sale. 



Yes they did remove mining.

BTC requires mining to confirm the transactions. No mining and BTC is DEAD.

As the difficulty is increasing at an ever rapid rate, the 'miners' are slowly shutting down as they cannot afford to replace their ASIC machines.

Why do you think the BTC confirmation times are increasing?? Fewer miners. LOL

Next time you flush your turd down the toilet, visualize your BTC going with it. ;D

Rimbit is confirmed with everyone's PC and that will not change. It was like BTC the first year, but RBT will be like that FOREVER. LOL

Lets compare Rimbit vs Bitcoin

 Centralization - Rimbit gets more decentralized daily as more people leave wallets open to confirm transactions. BTC becomes more centralized as only millionaire miners can process the transactions into blocks

 Price chart - BTC pumped to $1200 and now back to $450. Rimbit developing a solid base at the 1-2 cent level..huge upside

 Get free coins..Rimbit users mint 5% interest by leaving wallets open to confirm transactions. BTC only the handful of miners get free BTC

 Forum..Rimbit is a cordial forum populated by adults. BTC is a bunch of angry children..just look at comments on this thread

 Mining difficulty - RBT zero as there is no mining. BTC closing in on 200 BILLION

 Life expectancy - RBT is designed to go on forever as minimal power costs and no escalation in hardware. BTC will self destruct due to either the power costs become prohibitive or the miners won't be able to keep up with new ASICs as the difficulty skyrockets.

 Open your eyes people!!

U.S. presidential candidate Hilary Clinton is reportedly set to release tightly held government files concerning Area 51.

A recent New York Times article (http://www.nytimes.com/2016/05/11/us/politics/hillary-clinton-aliens.html?_r=0) suggests that Clinton has recently been briefed by her staff regarding extra-terrestrial life, has a solid understanding of the file and is willing to release files that previous President's have refused to, providing national security is not jeopardized.  The article also points to an interview with Jimmy Kimmel in which Clinton corrected Kimmel's use of the term U.F.O.:

“You know, there’s a new name,” Mrs. Clinton said in the March appearance. “It’s unexplained aerial phenomenon,” she said. “U.A.P. That’s the latest nomenclature.”

While politicians and special interest groups continue to tussle over the release of information, Rimbit owners continue to wonder about the "Unexplained Fee Phenomenon" that has been circling the Bitcoin world for years.

Bitcoin's now notoriously poor blockchain planning, delayed and lost transactions and unmanageable size has opened the door for individuals, developers and mining companies to manipulate the fees charged to process normal transactions as well as the much larger fees that users can pay to "skip the line" and have their transactions processed ahead of everyone else. A technical article on CoinDesk highlights some of the historical issues Bitcoin's "pay-for-service" developers overlooked http://www.coindesk.com/building-better-bitcoin-fee-market/).

Rimbit owners, however, have never needed to worry about such issues. Rimbit's network algorithm and coding was developed only after disregarding the flaws that Bitcoin developers either never saw, or didn't see a need to fix.

Using a stable, safe and secure network, Rimbit transactions are processed in seconds. No delays, no lost transactions, no fee manipulation.

Isn't this how a community-based coin is supposed to operate?

Congratulations Mrs. Clinton, on being open to increasing government transparency. After all, isn't government supposed to be there for the people, too?

Yeah right I will be moving to Rimbit if they have thousands of faucets,thousands of merchants and big names endorsing Rimbit but until now it;s none you're not even in the top 10 crypto currency on coinmarketcap, instead of bashing Bitcoin why you people co -exist with Bitcoin

They can bash bitcoin all they want but it won't get people to use their 100% premined novacoin clone that they keep trying to get people to buy.  It apparently isn't working as there is less than 1 btc in buy orders on c-cex, almost no daily volume.  The only reason rimbit has a million dollar marketcap is because there are 380 million coins from the initial premine.  Just like many other coins the marketcap means nothing because there are no buyers.  These guys are just trying to sell their 380 million coin premine to put btc in their pockets.

Yeah right I will be moving to Rimbit if they have thousands of faucets,thousands of merchants and big names endorsing Rimbit but until now it;s none you're not even in the top 10 crypto currency on coinmarketcap, instead of bashing Bitcoin why you people co -exist with Bitcoin
[/quote]

Sure we are coexisting with BTC, but BTC has several major flaws that have been pointed out and no one is attempting to fix, or cannot fix.

So we shall see. BTC is 7 years old. RBT is 2 years old. We will see what RBT is like when it is 7 years old. Then you will all be on board, as BTC will be just a footnote to history ;D

This is one of the latest articles to be published, noting that average Bitcoin's average transaction fee is now somewhere between 15 cents and 35 cents!

http://cointelegraph.com/news/bitcoins-transaction-fees-skyrocket-as-the-bitcoin-halving-looms


Imagine you are standing in a really, really, really long line at a bank where you just want to send $50 to uncle John in Guatemala.

Hours go by as you slowly inch closer to the teller's wicket, but then some rich guy pulls up in his Mercedes and offers to pay the teller lots of money if the teller agrees to take him next.

Well, the teller of course is thrilled, happily takes the money and agrees to process the rich guy's transaction next. Then another rich guy pulls up, and another and another. You, having respectfully waited your turn in line keep being pushed further and further back. It could be many more hours, days, weeks or months before you reach the teller. Or, you may never get there at all.

This is EXACTLY what is happening with Bitcoin now, and has been for some time. Anyone willing to pay a higher fee can skip the long transaction wait times and have their transaction processed quickly and efficiently.

Is this really how a community-based coin should operate?

Thank you Rimbit, home to a community-based coin that truly is there for the community.

Rimbit poll up again to change the purchase price on IndieGoGo.

Current price is 2.1 cents and there will be an increase of 9.5% to 19% starting tomorrow May 28, so buy today at the lower price.

https://www.indiegogo.com/projects/missed-out-on-bitcoin-here-is-your-second-chance--2#/

Sure we are coexisting with BTC, but BTC has several major flaws that have been pointed out and no one is attempting to fix, or cannot fix.

So we shall see. BTC is 7 years old. RBT is 2 years old. We will see what RBT is like when it is 7 years old. Then you will all be on board, as BTC will be just a footnote to history ;D




[/quote]

So this coin will be the coin of the future and bitcoin will vanish in 7 years time ??all I can say is go take your vitamin and get 8 hours of sleep and don't worry about Trump,so you can think better this is delusional  :D

The free Rimbits that are being offered on the forum are appreciated

Scam

RBT wallet has now installed on new alcurex.com exchange site.
-halibit-

I hope it's backed by fact but right now it's the age of ethreum and so many altcoins coming with great features ,like CBX and Rubies I think it's only a matter of time before people start to ask what  is Rimbit because there is not much good features on this coin compare to other altcoins..

RBT has tripled on exchanges this year already..from 1/2 cent to $0.018 cents now.

That's good congrats to your community but have checked it on Yobit but there is no volume there it's been a long flat line maybe investors on Yobit are not aware on the existence of this  coin,maybe the majority..

Bitcoin needs to do a hard fork and now Ethereum has a built in SNAFU flaw that allowed somebody to steal $60 million.

Someone has suggested ETH needs a hard fork too.

The logistics of a hard fork in a mined coin are almost incomprehensible and it could be fatal to the coin if done poorly.

RBT will never need a hard fork because it can just update the wallet with the error corrected and everyone downloads the wallet and keeps on trucking (minting free RBT)

Also a news bulletin today said anybody wanting to unwind contracts on DAO just has to do a 67 step process over 48 days.

How insane is that.

bye bye ETH

Rimbit..the crypto built for the ages... The Sleeping Giant

http://www.rimbit.com/threads/rimbit-the-sleeping-giant-is-ready-for-the-people.5368/

So the coins you mine in your wallet you have to buy back don't like the sound of that

So why have the number of miners fallen from hundreds of people like Bob in a backroom with a PC to a few huge companies (in China) with farms of machinery?  Because the hashrate has gone up so much.  But why has the hashrate gone up so much? .... Chicken or egg which is first?  To be honest, it does not matter, only that Bitcoin is reliant on a few (almost getting centralised) Chinese farms.  We, the community, have little input, in fact zero.

First of all that's not true, the hash rate has gone up because the amount of miners has gone up, because with each generations PCs/ASICs get better. I don't think the number of miners has decreased, yes the chinese may be a big % of the miners but with this price grow i can say for sure without looking at charts that many have turned their miners back on. You just changing the words so it always looks in your favor.
I dare to say that it's logical that if something becomes productive then many will start aiming for it, thats the only reason because Bob cannot mine with his PC anymore, yet if Bob used to mine with his PC and now is bitching it's just greed since he already has a huge amount of coins.

First of all that's not true, the hash rate has gone up because the amount of miners has gone up, because with each generations PCs/ASICs get better. I don't think the number of miners has decreased, yes the chinese may be a big % of the miners but with this price grow i can say for sure without looking at charts that many have turned their miners back on. You just changing the words so it always looks in your favor.
I dare to say that it's logical that if something becomes productive then many will start aiming for it, thats the only reason because Bob cannot mine with his PC anymore, yet if Bob used to mine with his PC and now is bitching it's just greed since he already has a huge amount of coins.
[/quote]

So how much money does ordinary Bob in his back room need to "invest" in suitable PCs and electricity to mine bitcoins?

Do you personally know of any miners that have turned their machines back on?  I am not sure how you can be sure otherwise if you have no charts!

Finally, bitcoin mining was productive, that is why so many were into it.  It is only productive for massive farms - that is why they are now existing.

First of all, "gucked" up the quote a bit.
Second, i think its logic that if a bitcoin costs 300 USD and its BARELY profitable then if price doubles it should give you a huge edge assuming no one else turns their miners on.
Third, bitcoin is profitable for anyone depending of their cost of electricity, if you have good hands you can get it even cheaper. Chinese have really cheap electricity thanks to nuclear power for example.
Forth, personaly in the crypto world is something strange but just an example of altcoin price and altcoin miners sweeping from coin to coin.
Edit: ps: i don't see why it should be profitable only for massive farms, its also the fault of the ASIC creators, i think we need more companies that make them, and even more legit.

I cant be bothered with long posts and so gucked the quote.

So can an ordinary person buy the kit and mine bitcoins?  I think not, because the kit needed is too expensive.  That is why these farms have grown as it is the only way anyone can mine.  Whether the BTC is $300 or $600 is irrelevant if you cannot afford to buy into the mining.  I agree with the 4th point, people are not mining BTC but any and all other crypto coins.  It is the only way to make money and hopefully get some payback on the kit they have that cost a fortune!

The only reason for that is because they want a fortune, you can still get into mining with little money with cloud mining in a trusted site as hashnest (i know no one else), now you lose a bit with cloud mining since you cannot do anything against electricity. Yet the price of the miners has nothing to do with btc. I do agree that they are expensive, but if you take care of things properly at long term the roi is almost safe unless btc price goes down.

Mining is a competitive business. Only the most efficient miners will survive. If Bob is paying twice as much per kilowatt as the Chinese miner then how can he hope to remain in business? There are no "participation prizes" in the real world. Only the fittest survive.


The hashrate has gone up due to improvements in mining hardware. From CPU to GPU to FPGA to the various generations of ASICs, each faster and more efficient than the last. Difficulty tracks hashrate. Hashrate doesn't track difficulty. Your chicken and egg analogy doesn't apply, since if anything higher difficulty has an inverse effect on the hashrate as uncompetitive miners drop out when they stop being profitable.


I only bothered correcting the point because that guy made the same error many many times in this thread and elsewhere. He thinks that the difficulty goes up on its own and that miners have to keep up, when in fact it's the other way around. If it doesn't matter to you, why comment on it?


The miners work for us, the economic majority. We are not reliant on them. If they misbehave we can fire them by changing the proof of work algorithm.

The miners work for us?  Seriously?  I just had visions of the animals in George Orwells Animal Farm talking about the pigs.  It does not matter what else you say, I will find it hard to take it seriously now!

The bug was fixed in Bitcoin on Mar 10, 2014 (https://github.com/bitcoin/bitcoin/commit/c5a9d2ca). There was no need to do a hard fork since the bug wouldn't have had any effect until approximately 256 years after the genesis block.

The problem is that C++ doesn't define what happens when you right-shift a 64 bit integer 64 or more places. What most compilers do when you ask them to right-shift 64 places is to right-shift 0 places, ie. do nothing.

Of course. Why do you think we pay them?


Maybe take a break from the forum until you come down.


It's OK if you are unable to respond to my post with anything other than personal attacks. I get it.

You are clearly trolling, so good on you - it was fun!

The miners can do as they like with almost total impunity.  There are so few of them controlling so much mining, that if they wanted to they could easily manipulate the btc price and there is nothing we can do about it.

SPORTSBOOK BETTING NOW ON THE RIMBIT.COM (http://RIMBIT.COM) FORUM

For those who haven't heard, the Rimbit Forum has just set up Sportsbook betting.

Using Rimbits (RBT), forum members can place bets on a variety of events including the Tour de France, Olympics, 2016 British Open (golf), 2016 Darts World Matchplay tournament, Formula 1 and more.

There is also betting on the U.S. Presidential Election and even the IMDB rating for films on a given date.

Easy to use & fun.  Events are settled quickly and winnings are immediately available for further use.

It's well-worth a visit to see if there's something that might interest you.

“We would like to remind you that this weekend Bitcoin mining reward will be reduced by 50%. This process, namely halving, is a part of Bitcoin system script and occurs every 210 000 blocks. The last halving was 4 years ago and the block reward went down to 25 BTC from 50 BTC.


If this halving occurs every 210,00 blocks, this makes BTC mining an even more endangered species. As BTC trading increases, the blocks will be formed ever more quickly, so the TIME between halvings will continually decrease. So the next one will probably be in 2-3 years and drop to 12.5 BTC per block. Then the next may be in 1.5 to 2 years and drop to 6.25 BTC per block - on and on to oblivion.

This is a reverse geometric curve heading straight down to nothing, while the difficulty is rising exponentially higher. WOW

RBT reached 65 cents on UseCryptos exchange yesterday. Now Coinmarketcap has taken usecryptos off their list of RBT exchanges.

The corruption in the crypto industry is beyond belief.

Where did you get that idea from... ???
You get Interest on the Rimbit you have in your wallet... Thats nothing unusual with a POS coin

How much amount real of #RBT?
In GitHub is 3200000 GCC (3,2M) only.
But in Coinmarketcap.com today >> Available Supply: 115,499,623 and Total Supply: 393,459,356 RBT

But in GitHub reach 3200000000 (3,2 Billion) !?!

https://coinmarketcap.com/currencies/rimbit/
https://github.com/Rimbit/Wallets/blob/master/src/main.h

whether the difference of Total Supply and Max Supply?

Rimbit really sucks...

1. Android wallet has lots of bugs and it is of no use.
2. Please dont provide contact/support section if you cant reply. It is not even providing auto reply confirming receipt of mail.
3. Its campaing in GoGetFunding went away after i keep on asking them about my issues.

My issue was,
I donated some money to their campaing and i was entitles for some rimbits , around 5133... I installed android wallet. I gave my address to gogetfunding campaign runner. He sent me rimbits and i checked in explorer. It was confirmed and was there in explorer but I did not get those rimbits to my wallet. This was the address I used RPr47ic6FF3btmfBk2aK4sjZWNB1jC3Dtv  . My rimbit wallet address is correct and still if i request via my wallet, it gives the same address.

knock knock anybody out there ??? ???

Highly recommend once, but here I do not currently have a device, is there a specification of computer peripheral effects on Coin Rimbit revenue? ??? ???

Maybe contact person is busy .. you need to be patient .. :)

It would be nice if OP would update the first post with Alcurex echange too, since it is traded there too:
https://alcurex.com/#RBT-BTC

Someone trying to off load 31BTC of RBT on yobit!  ??? ???
What the faaark.

is this project worth investing? ive seen rimbit used to be 0.19 cents max, averaging 0.04 over the years and now its. 0.008 cents. what would you guys say? thanks

This coin is going through a burn atm. Dev bailed, website gone, official forum gone...I dont even thing you can download the wallet anymore. I spent a ton of money supporting this coin when it was doing its crowdsale. Touted as the only coin that is 100% community owned with no miners. Now that im not a noob I understand that this just means premined haha!
Price has tried to be pumped but there is always someone there with a seemingly inexhaustible supply of RBT to sell keeping the price very low. Id love to see it go higher so I can dump all my coins and finally get my money back but when someone continually dumps on any price rise its near impossible unless more people get onboard. No one will tho because of the things ive mentioned above. Its shitcoin confirmed imo. Still staking the burn but staking rewards are diminishing. Ill keep my coins...one day we might see something happen but I doubt it.

What's going on here?

interesting idea to leave the coins without mining. It would be a natural decline, someone loses coins, but some can put coins in a big bag and leave them there for a long time. This is an artificial raising of the significance and value.

who is running the twitter account for rimbit? it's still active

Buy and hold now guys..while the value so cheap..
The Dev are working on it..soon it will live and mooning..
Dont ignore this Good buying Oppurtunity..
Follow me on twitter lets be friend :)
https://twitter.com/eugene20480717

Already with friends began the process of buying this coin!) Rimbit in the near future will show growth of 20 times !!!)

Of course it is worth investing in this coin! we also began to integrate. Soon there will be a good takeoff of this coin!

Yes, we need to develop the project, the team works great! You need to invest in a Rimbit!

Why do I to buy this coin, what does Rimbit offer? A POS coin as hundreds of others...

This is a very promising coin. Already has not a bad infrastructure and a team of specialists. Then there will be only the growth of the coin!

Good afternoon. I want to help the project Rimbit find the right vector of development. There is an opportunity to promote the coin through media. How to reach investors?

I think everything will turn out very well here, the future is bright (Rimbit)

Everyone wants a stable income. I think this project (Rimbit) will fulfill this desire

The growth of the Rimbit is 20000-30000% in 2018 !! I liked the project very much. Professional energetic team Rimbit. We will support and participate in events. Thank you Rimbit. ;D ;D ;D ;D ;D

I support, very good coin, I also bought it with my husband!)

Coin Rimbit must be soon to show off. There are searches for a professional team and investors! 8)

What are you trying to imply with your message? Who is searching for a professional team? The Rimbit community?

With friends we are looking for investors. We have a good team of programmers. Also we are engaged in product promotion in this area! ::) 8)

The response to your request looks like it is quite limited and I feel there is a reason for that. You should better prove what you have to offer and then ask for support from the broad community in this space.

Does anyone know of the reason this coin is pumping very hard since last week?

I just got in plan to hold it 100x to 1 Euro.

We need to have a new official ANN thread and link it to :

https://coinmarketcap.com/currencies/rimbit/

it should have the nice graphics like other ANN threads have.

Can someone do that???

Not today it's crashing 35% so far but it was up 1000% or more the last few days. I got in under 20 SAT so I'm still ok lets see where the bottom is. Any idea where it will hit bottom ???

Still can't understand why ppl don't get it when BTC is down, Alts go up and vice versa. Almost every time. Sometimes for a week at a time and sometimes for a month at a time.

BTC stayed in an unexpected upward position for at least 6mos. Now, that it's corrected itself after so long, we're seeing larger pumps than usual. But, I do believe these RBT devs and team members might be serious about their project. Follow their project and see what happens. It's dirt cheap. Buy .01BTC worth for starters and go from there.

Probably at the bottom now.

See the trade volume of RBT last 20days. Indication huge buy pressure. Hope this will take off soon. Full you bag before takeoff. . . . .  ;D

going to FLYYYY

Does this coin still have active dev team? Their GitHub page does not work https://github.com/Rimbit, Forum is also gone.

Can somebody please help what is going on here?

On their facebook it looks like they were giving a way coins lately and rest of sites down.
Feels it died

Hey I bought my RBT with Yobit and want to withdraw it to a safer wallet.  Thinking the OS one from the website (open to suggestions such as Walletgenerator.net for a paper wallet).  What's everyone here use?  I read some discouraging things about withdrawals in general using Yobit.  Anyone withdrawal RBT from Yobit before and have issue.  I have a good amount and don't want to mess up of have the transaction go from processing to vanished as some claim has happened with other more obscure coins.

Btc goes down and alts follow. Wow you're a genious!

There are no rbt devs. Did you even do any due diligence for this coin? Did you check the website? No, of course you didn't. Most people throwing money at this shitcoin probably have no clue what the coin really is but that's ok. 

I'll buy into this purely for speculation because I'm confident that the ignorance of most crypto gamblers will continue for some time as they dump their money into crap coins like rimbit. Thank you in advance as I dump my stash on you gentlemen.

Yea well I'm doing this FT now based on that knowledge. It's a community takeover genius. That's even better yet. 1st fully distributed coin. Thanks for your dump dickhead. I just $50K and still have all my shit.

I love douchebag assholes like you. Fucking bitch ass bitch assssss lol

Can't even spell GENIUS!!!! Genius!

This is why you don't listen to jerk offs like this dude, ppl


Do what you all want to do. It's nice to have bought a coin at 9sat, sold it off at 370, and bought it back again. Let's see where this goes.

I wd some to the one I got from the site. It works just fine. I don't think there's any left for staking, so I might have to change it from PoS to Assest or, idk what to call it now.

I'll try to find out

Actually the no devs and no mining aspect is what makes this an interesting coin to me.  With a key drive of cryptocurrency being decentralization I find it interesting that most of the time we (me included) gravitate to coins with more active "masters" and stake holders.  We get excited with news of mainstream companies buying into their technology and services despite those services having nothing to do with the value of the coin.  Take Ripple (and I have quite a bit).  Despite its blockchain technology having practical applications for financial institutions and their international operations, that application and it's success has nothing to do with the value of the ripple coin.  Ripple has only increased in parallel with our enthusiasm and faith that the Ripple enterprise will be successful.  Not to harp on Ripple but it makes my point better than most other coins in comparison because it is centralized.  Ripple controls it completely.  Rimbit however is out there in finite numbers without any mining consortium having any more advantage to acquire them than anyone else.  It doesn't matter if the original developer profited greatly from this project as most do.  It's not his anymore.  He, like us, will only ever be able to sell RBT for what someone is willing to pay and in turn can only buy it at a price RBT holders are willing to accept.  That simplicity is itself valuable since it's not convoluted with the promises of "big things to come" and momentous "dev announcements" etc.

XRP is the first off my top long term holds that I exited completely. I bought most at 150sat and sold at 20K. Some in btwn. I just wasn't into having my wealth controlled to the T and having to worry about regs in the future. Kinda like that scene out of Mr Robot at the end of Season 2. I'm big on the cryptos that communities take over since then. I know it has interest. Does it help to have a team? Sure. But, there were a ton of coins this past yr that were revived just fine because of how well they were made.

I'm going to hold on the rest of my RBT that is all profit. It can never hurt.

GL to u brother

RimBit Call in 15 min - get to your phones ~!!

In the USA
646-876-9923
or 669-900-6833
meeting ID 540 602 684

still like this project!

if anyone have a working blockexplorer please pm the link for , if there is no working blockexplorer anymore the coin gets delisted maybe soon if we do our spring cleaning !

Regards Lafu

Is there going to be any notice before you de-list it?

interesting projects they also have a great team.I hope this project can be successful and growing big :)

Delisted on Cryptopia....any other options or is this another dead coin?

It's on Yobit, but price crashed to 12 satoshi. Sell your coins, it's going deeper and deeper now. https://yobit.net/en/trade/RBT/BTC

i dont know how to fix it to get the reward but here is an explorer for RBT.  http://rimbit.org/

http://rimbit.org/

So...what's going on?

Hi

Just got the deleted message from Bitcointalk is there any reason for this ?

Rimbit will be listed free of any fees on https://twitter.com/circuitsofvalue P2P Digital Asset Wallet (DEX)

RBT will be able to Atomicswap with all the other Pairing's.

We have just run our Beta test to final bug test, and look forward to releasing our V1 hopefully before the beginning of 2019

Tried to email "Rimbit" but Im a newbie so cant get past your settings

This coin is dead.  I was part of the community that was defrauded by the creator.  The community split and because there were no more suckers, the creator closed up shop.  The creator is a con artist, who moved to thailand following his previous con on Yowcow regarding money transfers (google it).  His name is Mark Rune or Mark ??

Rimbit is dead.  It will not appreciate in value.  It was always fun money.  I hate that I wasted money and time on this coin, but lesson learned.

I hope this helps.  #rimbitscambit