Bitcoin Forum

Release date: UPDATE DELAYED TO 9PM GMT, 25th January 2014

Coin Information

SilverBars (also known as SilverBullion, SilverIngots, Silver  and TrueSilver)
This new “Alt-Coin” is part of a brand new group of asset based crypto currency including GoldBar and PlatinumBar supported by real gold, silver and platinum.
We see Gold, Silver and Platinum as potential real payment systems in the future, unlike most coins however our premine will be invested in real Gold, Silver and Platinum to give long term real world value to our currencies.

Our SilverBars are created to be mined across a 50 year period ensuring these are always in demand, always rare and will ensure a greater value whether its person to person or on an exchange. Each of our 384,000,000 (384 million) bars represents all of the gold bars currently ingotted and stored in any part of the world - around 120,000,000 bars - and a further 264 million bars yet mined from the precious earth).

Due to tjhe potential high value of these bars, we will offer a secure storage facility for your gold coins when mined to ensure that you never lose these valuable deposits.

Value

The value of One Bar Of Silver in real terms is over $1,380 dollars compared to Platinum ($460,000 dollars per bar) and Gold (over $600,000 dollars per bar), what will our cryptocurrency be valued to.......?

Mining

- 1 minute block target
- 5 Confirms per transaction
- Difficulty re-targets every 60 minutes
- Block reward 1 estimated (may be higher)
- Total coin supply:384,000,000 (384 million - one for every gold bar in storage and mass awaiting mining)
- Scrypt


- Premine: 3.5%
An estimated Pre-Mine of 3.5% is required for the purpose of retaining and investing in real, actual gold deposits which will increase the value of your coins in the future*. Of this 3.5% around 0.5% - 1% will be kept for promotions, currency development and ensure future giveaways and use to make a positive difference to the world by relieving poverty, providing financial opportunities and improving real world social problems through donations, work and provision of opportunity.

Our coin has been minted (compiled pending launch)

Wallets ready on launch;

Linux wallet (ready)
Mac wallet (ready)
Windows wallet (being finalised)

Pools:

Please contact us at info@commonwealthcoins.org if you wish to have your pool added

Hashasaurus: http://silver.hashasaurus.com (available for signup on Saturday 18th January)

FAQ:

#1. - Question: When and where can we download the wallets.
#1a. - Answer: Our wallets will be available to download from our website and linked to from a number of websites including here as soon as possible and in advance of coin launch.

#2. - Question: Why GoldBars, SilverBars and PlatinumBars
#2a. - Answer: We understand that there may be considerable value in our coins whos aim is to directly replicate the use of gold, silver and platinum in society into a virtual cryptocurrency

#3. - Question: Will Gold, Silver and Platinum be on the exchanges
#3a. - Answer: We are confident that these belong on the exchanges and will be making an application to major exchanges upon launch.

Other:

Blockchain: TBC (will be available upon launch)

Forum: TBC

Website: http://www.commonwealthcoins.org

Anything else please contact us via private message or via email at info@commonwealthcoins.org

For real? You want to launch 2 coins at the same time?

3 or more. There are already posts for platinum, gold, and silver.

well that could be interesting,  bitbar was huge premined with 50% or more but they still reached a value of $130 each coin ( bar )

do you make  palladium bars too? but that would be to much then ;)


and if one dev make all 3 coins i think thats only positive.. could be a real big thing here..


trading 40 silverbars for 1 goldbar!  ;D

Well I posted in the other 2 bar threads so here goes:

1 silverbar per block

1 minute blocks

1440 blocks per day

525600 blocks per year

525600 silver bars per year.

3.5% Premine of 384,000,000 silverbars is 13,440,000 silverbars pre mined

It will take the public 25.6 years to mine as many silverbars as the Premine.

Why am I not suprised its nearly as unacceptable as the other 2 bars you made.

Hold on these silver bar coins are convertible into real silver? really, so anyone who owns this coin can exchange it for physical silver? 1 coin for how much physical silver exactly?

So if I mine a coin, sent it to the dev, he will mail real physical silver to me, really ?

LOL at the noobs in here asking serious questions

This guy is a troll, messing around.  He is making fun out of all the new (100 per day) shitclone coins.

skip

Couldn't you just make gold, silver and platinum all in the same client like GemCoin (I think that's what it was called) did? Rather then releasing them separately.

yaaaaaaaay  ::)

3.5% Premine   hehe...

You know it is kinda a sensitive time for coin launch, right?
New coins are popping up everywhere and dies as quick as 1 day after launch. Because they do not take much effort to make. If it lives, then good lets keep going. If dies, well no big deal.

Because this whole cryptocurrency concept and practice, in general, is far from well established yet, anything with large premine(1%+), should be automatically flagged as scam by EVERYONE, and I am one of them (In fact my target is 0.5%).

I mean who are you to launch a coin and to say it is or will worth anything? Nobody can.
That is why everybody feels that a premine will mostly function as an "insurance" for the devs, to say it nicely.
Remember the premine is supposed to be only used for promoting the coins for the lifetime of the coin, well, at least until it is got all mined out, which won't happen for decades. Until then, those premined coin will just sit in devs wallet.

Ok suppose I am an black-hearted dev and I will do the following:
1: Tweak the specs and wallets of the existing coins.
2: Announce it some unique features but mostly backed up with meaningless theory and concepts.
3: Mark it with fancy promises, meaningless and misleading claims, and get some video or websites to make it look more serious, and maybe absolutely lies if necessary, like who I am and I have a big team or whatever who knows.
4: Tell everyone I am gonna premine it. And claim it will be used for some noble purposes and I will support this thing no matter what blah blah blah.
5: Lanuch.
7: I know there are people will mine it after launch, perhaps a lot if I did the 1-4 right.
8: And get it to an exchange ASAP.
9: If things do well, great I will be a good dev and keep supporting this, and use the premine for promotions etc...
10: If things go bad at the beginning or even sometime in the future and hard to salvage, well I am black-hearted and never expected much from this thing but cash. OK, I will dump the premine and cash it ASAP and disappear. Then the coin dies.
11: People will complain but not for long because the coin is dead, and I am a disappeared dev. Nothing you can do about it.
12: Also people are taking a big risk by mining it at beginning, for a potential boom of course, so they know how these thing go. If it booms, great. You forget about the premine or whatever because you are making money. If it dooms, no big deal.

Pre mine 3.5%? LMFAO!!!!!!

ive seen worse.  8)

3.5% premine.
bye

+1

While I admire the idea of mining silver in a more direct fashion than I do atm (mine x, trade x for btc, spend at btc-> bullion dealer, done) the premine is way too big.
I agree with other posters that details are too sketchy also (how many coins do I need to get an American Silver Eagle? What's the Gold/Silver crypto ratio and how does it relate to the ETF traded metal prices? ) so that doesn't inspire confidence either.

Further info is needed, and a lower premine (a max of 1%, I skip anything higher as there is only so much hash time available... ) or lower your expectations of success.

Shitty excuse to the premine.

• 3.5% can buy the amount of silver, that backs up the 100% -> claim your Nobel Prize  8)
• if you own it, it does not backs up anything 

clackersmaracas:
3.5%
can you stop so fucking coin ann????

So it's just another premined shitcoin but with a fancy name. So many promises in the description yet zero innovation and a massive premine.

NO! It's 4 coins in two days!

 :o

http://i1.someimage.com/QlG7ITh.gif (http://silverbar.morehash.com/)

MoreHash has a Silver Bar pool ready! You can sign up ahead of time, but the stratum won't be running until the official release time on the 18th.

STRATUM, VARDIFF, PPNLS, 0% FEES, DDOS PROTECTED.
http://silverbar.morehash.com/

Happy Hashing!

why are you helping this scammer by hosting a pool? you greedy little turd stain.

I'm not sure I understand the question? How is the coin dev scamming?

1 silverbar per block

1 minute blocks

1440 blocks per day

525600 blocks per year

525600 silver bars per year.

3.5% Premine of 384,000,000 silverbars is 13,440,000 silverbars pre mined

It will take the public 25.6 years to mine as many silverbars as the Premine.

this coin is a fucking scam. please don't tell me you are too stupid to understand.

If you don't understand that then wtf are you doing messing with computers??? get away before you cause harm to yourself and others around you.

So you will need to sell your 3% premine before you can purchase the gold to back this coin. So that will lower the value of the miners coins and you will have a hand full of gold and the miners will be holding the empty bag.  How are you suppose to back the coins with gold? Are you going to allow us to trade this coins in for gold?

So you will need to sell your 3% premine before you can purchase the gold to back this coin. So that will lower the value of the miners coins and you will have a hand full of gold and the miners will be holding the empty bag.  How are you suppose to back the coins with gold? Are you going to allow us to trade this coins in for gold?

Epic crash nothing works!!!
Well done!!

Some people are mining like crazy while we dont...
Fail Fail Fail why couldnt it be a smooth start??
Well tough luck...

Is this a new world scam record ?  :D

http://i1.someimage.com/QlG7ITh.gif (http://silverbar.morehash.com/)

MoreHash has a Silver Bar pool ready! You can sign up ahead of time, but the stratum won't be running until the official release time on the 18th.

STRATUM, VARDIFF, PPNLS, 0% FEES, DDOS PROTECTED.
http://silverbar.morehash.com/

Happy Hashing!

Rest in pieces

is this still happening

So it is 7:27 AM GMT.  Has it launched?

No but even if it had best to avoid it like the plague, don't want this kind of madness with devs/clowns not satisfied with dumping out 1 shitclone per day and now sharting multiple filth all over the board.

Will someone also release Fe bar?
Cu bar?