Bitcoin Forum

DollarBit (BTCitcoin 3.0) Coming soon... www.dollarbit.org (http://www.dollarbit.org)

Coming soon& ::) cmon now we are ready :D gl

Are you related to someone named Roger Ver by any chance?

NTMU guys
 #it_hamilton
#it_franklin

R_Ver is a great crypto man/ that's it
#it_franklin

:)

just by hearing the word dollar, we can already guess it will be a very super coin. if not one of DollarBit's blend of dollars and bitcoins, which I think is amazing. I will look forward to the presence of this coin

/thx/

"we call it
DollarBit"

#it_hamilton

BTC 3.0 has been very bad. If a nice project comes up, at least it's a good idea. Maybe it will be good for the market.

bounties?
and please tell us there is 0% premine.

thanks.

100% agree

on what characteristics bitcoin 3.0 will be better? and how soon will this happen? there is no information on the website

ROFL... a one liner.  ;D

Would've been nice if you provided more info

please provide more information about dollarbit

coming soon .......lol , 3.0 , 4.0 , 5.0  ;D ;D ;D

Is this even coming at all ? lol  ;D

/end of week/
/thx/
#it_hamilton

Why call Bitcoin 3.0 ?

Thanks! I'm excited for this one :)

How's this one going, dev? Sunday be a bit of an arb day to launch .... why not bring it on, sooner?!

Hmm .. is this one going to be DOA ?

Hi, we are working hard. Everything will be revealed in due time.
/thx/

#it_hamilton

 ::) ::) ::)

I'm so excited  ;D I'm ready now
Bring it on  :) :) :)

Algo?

PoQ
/thx/
#it_hamilton

Due time ... still within the frame as promised??

The timer has run out .... is this still happening ?

How is project going??? 1 month and still no update ???

yuuup, this one is off to a bad start  ::)

Everything is going step-by-step. We have a large update coming very soon, but until then to get the latest news and updates you can sign up on our website at www.DollarBit.org

/thx/
#it_hamilton

naaw, thanks! I'm out .. you are off to a shitty start .. and if this is just the beginning, I can't imagine how it will be further down the line.

You were asked, more than a week ago, when it will be available, and you answered:


You guys clearly don't have an actual plan here .. anything that will move this forward? Just another shit coin waiting for an opp ?

At least for the rest of the people that might be interested in joining this sinking ship: at least give them some clear path forward!! Realistic expectations etc

Cheers!

This is a great project! DollarBit (BTCitcoin 3.0)
Do you have a Bounty plan for DollarBit (BTCitcoin 3.0)? I want to participate and contribute to community building!

Thank you! We do not have a bounty plan yet, but we greatly appreciate your enthusiasm! If you aren't already subscribed to our news on our website at www.DollarBit.org you should, so you can receive the latest news first.
/thx/
#it_franklin

Checking in ... no-go ..  ???

Devs, when you said "end of week" .. which week did you mean? The timer on your site has run out ..

This week, next week, the week at end Feb this year, first week in Feb 2021 ?

It looks like "soon" is relative...

It looks like the kid behind this coin need to first do a shit load of homework before attempting something like this. lol

I don't see anything happening soon ..

DollarBit CryptoBank White paper

www.dollarbit.org (http://www.dollarbit.org)
/thx/
#it_hamilton

Hi

http://www.dollarbit.org
check_white_paper
/thx/
#it_hamilton

^0
check_w_paper_before/www.dollarbit.org (http://www.dollarbit.org)/
/thx/
#it_hamilton

subscription on the website does not work

l_m_check
/thx/
#it_hamilton

working_well
/thx/
#it_hamilton

strange, after i enter mij email it keeps saying 'this is a required field'

okay, worked in safari, didn't work in chrome, no idea why

Oh, a quick update here to all those interested in this one:

you won't be seeing anything anytime soon, lol

i asked the dev about the plans, and response on when it become available is:



yup, we might as well bounce now already

from "end of week" (last week), to this ^^ fuck no! no thanks. if it starts this bad, imagine how bad it will get in the future.

Hi all.

In light of a multitude of questions, we will be sharing more information about DollarBit.


/thx/
#it_franklin

Before we start, here are quick answers to common queries.

1. DollarBit is not an ICO

2. Before asking questions, please take a look at informational pages on our website, www.dollarbit.org/faq (http://www.dollarbit.org/faq) and www.dollarbit.org/white-paper (http://www.dollarbit.org/white-paper). The whitepaper is now available and the FAQ page is frequently updated with new information.

3.If you have any further questions about the DollarBit whitepaper or DollarBit in general, ask them here.

/thx/
#it_franklin

Ps. 2 - 3 months, people hahaha  ;D

After getting through those available tabs on the main website this is what I understood from this project. This is not coin, in fact, you are going to make a cryptobank on blockchain which you have explained in big lines. People are getting this as new coin because of the title of the thread.

nope! dev's words:


then again, devs seem pretty confused about their own project

Thank you for the good remark. That's why we are on the most respected cryptocurrency forum--to tell the people more about our project and clarify some of the finer details. Based on your comments, we will explain more about our system to avoid misunderstandings.

/thx/

#it_franklin

 HI DEV


when will the New bitcoin 3.0 come then  ?

when can we start mining , let me put  6k mh/s cpus to it from the start lol

nice project baydeway


rg

Huh ?  ??? lol

It was end of last week .. now it's 2 - 3 months (or years)  ;D

We like your interest in DollarBit! Consider this: DollarBit is not yet another Bitcoin fork, nor is it a token. DollarBit is a project requiring serious development, which takes time.

Vanklotten,

No 2020 or 2030 release date, everything will be ready in 2018. Roadmap to be released in a few days.

/thx/

#it_franklin

We like the vague explanation, devs. Consider this: your ann is waaay too early! Stop posting shit about it being available in a week when you very well know it's months away -- come back when you got your project and yourself together.

/thx/

#it_dafuqss

Quick clarification about CryptoBank.

DollarBit system is based on Participation Coefficient(Q_p). To accommodate this new metric, we needed to create a wallet with extended functionality. Because of the change in paradigm from prioritizing transaction to prioritizing storage and saving as well as the added functionality, calling "wallet" CryptoBank is more relevant and reflective of the changes to the paradigm.

/thx/

#it_franklin

About the Block Size & Participation Coefficient


In the cryptocurrency world, there are heated discussion about the block size and each cryptocurrency attempts to solve the problem differently. Our solution is to dynamically adjust the block size using the participation coefficient (Q_p ), a metric designed to track the participation of the users in the system.

/thx/

#it_franklin

From our website:

"Bitcoin is a genius creation, but one that requires major improvements. The DollarBit CryptoBank is precisely what implements the original ideas of Bitcoin, but with a modern twist. For example, the idea of participation, the involvement of the maximum number of enthusiasts, was implemented in the Bitcoin network, but the motivating factor of a reward has diminished over time, requiring to change the model of economic incentives, making it more flexible. In the DollarBit system, the size of the reward remains constant, but is dependent on the level of Qp, motivating the participants to participate in the network more. This solution allows us to maintain the reward structure as created by Bitcoin, but embodying it in a much more flexible way. The creators of Bitcoin are undoubtedly geniuses, but when creating Bitcoin, the econometrics became the weakest aspect of the new economic reality, essentially being the reason for the instability of Bitcoin. The Bitcoin system has a fixed block size, the reason behind it is obvious, but limited block size led to the queuing of the network transactions in mempools and further destabilization. The DollarBit network solves this issue by relying on the Participation Coefficient of the system. In this a case, the size of the block is dynamically adjusted depending on the intensity of network participants’ actions and activity."


/thx/

#it_franklin

DollarBit whitepaper is now available on our website, www.dollarbit.org/white-paper (http://www.dollarbit.org/white-paper)

And you can take a look at this page www.dollarbit.org/faq (http://www.dollarbit.org/faq) for more info about the project

As to why we call DollarBit Bitcoin 3.0, here is an answer from our website:

"Bitcoin is a genius creation, but one that requires major improvements. The DollarBit CryptoBank is precisely what implements the original ideas of Bitcoin, but with a modern twist. For example, the idea of participation, the involvement of the maximum number of enthusiasts, was implemented in the Bitcoin network, but the motivating factor of a reward has diminished over time, requiring to change the model of economic incentives, making it more flexible. In the DollarBit system, the size of the reward remains constant, but is dependent on the level of Qp, motivating the participants to participate in the network more. This solution allows us to maintain the reward structure as created by Bitcoin, but embodying it in a much more flexible way. The creators of Bitcoin are undoubtedly geniuses, but when creating Bitcoin, the econometrics became the weakest aspect of the new economic reality, essentially being the reason for the instability of Bitcoin. The Bitcoin system has a fixed block size, the reason behind it is obvious, but limited block size led to the queuing of the network transactions in mempools and further destabilization. The DollarBit network solves this issue by relying on the Participation Coefficient of the system. In this a case, the size of the block is dynamically adjusted depending on the intensity of network participants’ actions and activity."

/thx/

#it_franklin

Visit these pages from our website for more information about DollarBit

Whitepaper: www.dollarbit.org/white-paper (http://www.dollarbit.org/white-paper)

FAQ:www.dollarbit.org/faq (http://www.dollarbit.org/faq)

/thx/

#it_jefferson

Visit these pages from our website for more info

Whitepaper: www.dollarbit.org/white-paper (http://www.dollarbit.org/white-paper)

FAQ:www.dollarbit.org/faq (http://www.dollarbit.org/faq)

/thx/

#it_jefferson

Can't wait :O  ;D

Thank you! Visit www.dollarbit.org (http://www.dollarbit.org) and subscribe to our mailing list to keep updated on the latest from DollarBit.

/thx/

#it_jefferson

when it will launch ?
any date ?

The final version of the roadmap will be presented tomorrow. Subscribe to our mailing list on our website www.dollarbit.org (http://www.dollarbit.org) so you do not miss anything.

/thx/

#it_jefferson

3.0 is to signify that DollarBit is the third generation of cryptocurrency. If Bitcoin was 1.0, then the DollarBit is 3.0 because of the technological and ideological advantages of DollarBit over Bitcoin.
/thx/
#it_franklin

Bitcoin is a genius creation, but because it was the first, it has several deficiencies, one of which is the erroneous outlook on the role of transactions in the function of the blockchain. DollarBit present a new paradigm of prioritizing storage and mining over the transactions. In addition, we add a new method of stabilizing the network and incentivizing the user to maintain participation—the Participation Coefficient(Qp). Qp is a metric that tracks participation and affects the rewards and fees of the users.
/thx/
#it_hamilton

Questions from Newsletter Subscribers:

What is Participation Coefficient?

The Participation Coefficient (Qp) is the key differentiating factor between PoQ and other algorithms. There is nothing wrong with the core idea of PoW, and PoQ is similar in principle, but Qp makes the algorithm much more advanced. One can think of Qp as a score system that determines the reputation or a rating (Credit Score) of your CryptoBank. One of the metrics used for the calculation of the Qp is the time spent mining. This is a return to one of the original Bitcoin principles – blockchain mining. Because the Qp is not reliant on wealth or computational power, but one the one true constant – time, PoQ is more egalitarian that other algorithms.
More information on the Participation Coefficient can be found in the DollarBit white paper www.dollarbit.org/white-paper.
/thx/
#it_hamilton

Questions from Newsletter Subscribers:


Calculating Fees

Fees are universally hated, but they are necessary. We want to keep the fees low, but make them dependent on the Qp at the same time. Users with a high Qp will enjoy the benefits of lower transactions, while users with a low Qp will have to bear increased costs. This change is necessary as to not create discrimination, where the miners would only take transactions either with low or high Qp. This way, all transactions will be processed, and miners will either create high Qp blocks or earn more from processing low Qp transactions. The idea is to create a balanced system that would nonetheless motivate everyone to improve their Qp and maintain a high one.

/thx/
#it_hamilton

I have checked the website. I could not find the road map.

let me start
1. Difference between Bitcoin and DollarBit

There are several differences between Bitcoin and DollarBit. For once, the underlying technology is different—Bitcoin uses Bitcoin Core and DollarBit is built on CryptNote. Perhaps, the biggest difference is ideological. Bitcoin was envisioned as electronic cash capable of functioning outside of government intervention and conventional channels and designed to replace the traditional currency. DollarBit does not aim to replace other cryptocurrencies or currency, but to supplement them. This comes from a change in the paradigm: DollarBit prioritized storage and mining over transactions, unlike Bitcoin and other cryptocurrencies.

/thx/

#it_hamilton

tonight

/thx/
#it_hamilton

Fake ass name - just the name itself makes me not want to invest.

It's like saying here is a new currency: DollarEuro -.-

We are not forcing anyone to invest--you can always participate in mining. We are just here to share more information about the project. DollarBit is the American Bitcoin and calling it DollarEuro or EuroBit would be more fake.

/thx/

#it_jefferson

Why so many project of this kind created?
If version 3.0 come out, version 4.0, 5.0, etc. will follow coming out.
And I don't see any special of this kind of project.
Download a wallet => "swiss bank"   a lot of coin has their own wallet, and user all has their swiss bank, what is the reason of this project?

When we call DollarBit Bitcoin 3.0, we say that DollarBit is the new iteration of Bitcoin that takes into account the latest technological advancement. If versions 4.0, 5.0, etc come out later, then it's all the better for the cryptocurrency community. Improvement, development, advancement, are always better than regressions, stagnation, orthodoxy, and are necessary for the long-term.

/thx/
#it_franklin

DollarBit is unique because we propose a change in paradigm

/thx/
#it_jefferson

Please reserve any judgement before reading the DollarBit whitepaper. www.dollarbit.org/white-paper (http://www.dollarbit.org/white-paper) Participation Coefficient is a game-changer.

/thx/
#it_jefferson

In the DollarBit system, wallet is called CryptoBank because  of the change in the order of priorities. We believe that storage and mining are more important than transaction in the context of a decentralized network based on blockchain. Because of the change in paradigm, calling "wallet" CryptoBank is more apt.

/thx/
#it_jefferson

We compare CryptoBank to Swiss Banks because of similarities in focus on privacy and security.

Questions from Newsletter Subscribers:

More about Calculating Rewards


For all the genius of Bitcoin, the lack of economists in the dev team is obvious. The basic rules of economics apply to everything, and cryptocurrency is no exception. In most cases, the rewards diminish over time, even if the difficulty of obtaining the reward increases, which is absurd from our perspective. We do no wish for miners to be discouraged from the beginning, and for that reason, the reward from mining in the DollarBit system does not decrease with time, but is rather dependent on the participation of the miners. Also, if we want to improve the stability and security of the system both short-term and long-term, we will need to incentivize miners not only to participate, but to maintain their participation over time. In DollarBit network, this function is executed by the introduction of the Participation Coefficient(Qp). Qp affects miner’s rewards by either raising the base reward marginally or considerably. If the Qp is high, the reward will be higher than the base reward, and if the Qp is low, then the reward will be similar to the base reward. However, the reward will never drop below the base reward, as we believe that the increased complexity of the computational puzzle required to find a block is more than enough to compensate for the increase in competition and participation.

/thx/
#it_hamilton

DollarBit is not a “copy-paste” project—it is a serious revamp of what cryptocurrency should be. A change in paradigm requires major effort and a bit of time.

/thx/
#it_hamilton

 Questions from Newsletter Subscribers:

Explain something about  Qp system ?


Qp is the participation coefficient. The CryptoBank owner, the user, begins forming their Qp from the first transaction. In other cryptocurrencies, a regular user does not receive rewards from their participation, with the exception of using the cryptocurrency as an investment asset. But we cannot consider speculation as a system-forming incentive. In DollarBit, the user can see the changes of their Qp with every new block, based on their activity—Qp increases when the user is active, and decreases when they are inactive.
/thx/
#it_hamilton

Questions from Newsletter Subscribers:

CryptoBank vs. Wallet what's the difference?

DollarBit CryptoBank is the embodiment of the paradigm shift. Instead of using a "wallet" mainly for transactions, CryptoBank is primarily used as a secure and private way to keep your cryptocurrency assets. Prioritizing your assets' security, safeguarding your privacy, and protecting your anonymous transactions from malicious threats are the foundational principles of the DollarBit CryptoBank.​

/thx/
#it_hamilton

Questions from Newsletter Subscribers:

Why is there specifically 17,920,402 DBIT?

DollarBit draws inspiration from the creation of the US Dollar which was created on April 2nd, 1792 (hence the amount). Moreover, as an American cryptocurrency which aims to become the reserve cryptocurrency it is only fitting to be the Dollar of the cryptocurrency market (hence the name).

/thx/
#it_hamilton

Hahahaha! Are you fucking serious?


Just giving it a "smart" name doesn't hide the fact that it's exactly a fucking ico ... (Investment auction ... lmao)

naaaw dawg! this was a dodgy smelling one since your (incredibly) early ann .. and now this?!

go rethink this whole idea and come back when you have an actual fucking coin (and you're ready to launch), preferably without all these magical little popups along the way (like spur of the moment ico etc)

nope, I'm out! this way die before it's even taken off

This is not an ICO and never will be.DollarBit is CryptoNote based with modifications. The main aspect is the Participation Coefficient. While the Investment Auction is a new approach to funding upcoming cryptocurrencies.

If our project does not interest you or you do not support it, then please don't comment without properly understanding our mission or reading the white paper documents.

/thx/
#it_hamilton

Oh, i understand your project (the idea behind it at least), alright !! What i don't understand is this horseshit "investment auction" (still just a better name for ICO), that just popped up out of nowhere ..please, do tell me: how is this NOT an ICO .. what makes a different other than a name ??

Seems legit .. no ico here  ;D


Also, you posted an ann without really having anything but an idea .. and still promised the coin will be launched the end of that week (lol) .. you couldn't even get the basics right mate .. so, hope in this shit is totally lost (and i think you realize that), so the "easy way out" is to make a quick buck before disappearing. this is a joke! get the fuck outta here

#it_get_the_fuck_outta_here_dafuqss

If our project does not interest you or you do not support it, then please don't comment without properly understanding our mission or reading the white paper documents.

/thx/
#it_hamilton

I am seriously keen to hear your explanation on how this isn't ico .... please, go ahead :)

I don't think YOU yourself properly understand your own "mission" or idea with this.

If you want to receive a consultation, you can acquaint yourself with the Ethereum project and their smart contracts, which in turn enabled ICOs(Initial Coin Offering). Afterwards, you may consider browsing the web for information about the difference between tokens and altcoins. Later, you can read DollarBit whitepaper and DollarBit FAQ and ask questions regarding the subject matter (namely, the DollarBit project). Also, stop trolling--this is against the Bitcointalk policy.

/thx/
/good/luck/

#it_hamilton

02 Apr 2018

/thx/
#it_hamilton

Haha!  ;D  How's the "investment" going ... ? Bunches and bunches of people signing up and purchasing .. from guys that can't even stick to a date ? lol

Great concept