Bitcoin Forum

Release date: 6PM GMT, Sunday 19th January 2014

Coin Information

From the international enterprise team who bring you GoldBar, Silverbar and PlatinumBar is the new BitCredits (Credits).
This new “Alt-Coin” aims to be a single universal currency (credits) with a high enough coin count and mining time to ensure the currency has a long and credible future.

Credits are whole coins and not available to be traded decimilised (the actual value against real world currency to be decided by any participating exchanges).

Credits are to be mined over a 1024 year period, that's right, a 1,000 year period to ensure that there is never a pump and dump scenario and that coins are gradually released into society replacing all world currencies in favour of trading credits - a currency that can be applied nationally, internationally, and once other planets are colonised it is a currency that can be used throughout the universe with CREDIBILITY

Welcome to the future - a true universal coin.

Value

We do not predict the value of the coins however we hope that these will be heavily valued by people, society and exchanges.

Mining

- 1 minute block target
- 5 Confirms per transaction
- Difficulty re-targets every 60 minutes
- Block reward 10,000 estimated (may be higher)
- Total coin supply: One Centillion (1 ~303) = 1,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000 coins
- Scrypt


- Premine: 3.5%
An estimated Pre-Mine of 3.5% is required 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://credits.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 Credits?
#2a. - Answer: Our aim is to create a unique long serving currency with foundations being able to be mined across 10 generations of families, our aim is to create a currency that is simple and easy to use inspired by the great David Brabhen's Elite where credits were the currency used to trade across the universe, our aim is also to create a currency that can and will help relieve poverty and create opportunity for a fairer world by creating a universal commonwealth and a currency that can be used for good. Our unique BitDebits scheme will also allow people to provide peer to peer loans through our approvals scheme - more information later in 2014.

#3. - Question: Will BitCredits be added to an exchange?
#3a. - Answer: We would like to see BitCredits take place on the exchanges and become the defacto currency used across the world.

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

what you premined 3,5 % of

1,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000

coins?

 :o


can i see that wallet balance pls  ;D

So in 30 years you will still have half of all coins around? :D

How many coins do you want to launch at the same time?

Gold Bars, Silver Bars and Platinum and now this?

Just pumps and dumps for sure. Pure madness.

Hi all.

We want to launch three coins at the same time (within one hour of each other) to avoid pump and dump scenarios.

We do not know which, if any, of the bars will go on an exchange (although we hope all three) and we have left it open to miners to decide which they feel will be the better investment based on potential amount of bars mining, demand and desirability.

Surely by releasing one coin a week or month would create a terrible pump and dump scenario, this way you can make a choice and either stay and mine gold, or move to silver and platinum depending on GH/s on each coin, current demand on blocks and potential value of the return. It's a unique and interesting way to begin.

Our coins have been in development for some time with real genuine value to help stabilise the crypto currencies by creating a movement of real world assets into crypto portfolios, which is essential for long term support for cryptos and virtual currencies.

We believe our coins not only will have significant financial value in 6 months time, will create deposits to help the poor and improve social aspects in this world, and help the serious growth and investment of real currencies and not kiddy coins such as hotdogcoin and lots of terrible incantations.

Quickly touching the premine subject - there is absolutely no way that any coin will survive without a premine in the future of cryptos - we also have a number of coins planned for future release once our first four are established that we can offer a 0% premine on purely because the finances of our initial offerings will support such an infrastructure. Our 3.5% premine is small, but also with a mine time of 50 years (on the bars) and 1024 years (on the credits) we see that this should ensure there are few major benefactors - every miner deserves a little of something.

Thanks for everyones comments, we hope you will support our coins, and help us contribute to the world in positive ways.

Very excited about our launches next weekend (18th and 19th)

Really? What type of variable do you use for MAX_MONEY?

MAX_MONEY = "stimulate a coin to get as much money into circulation from hoarding fatcats as possible and put to good use including reduce poverty, increase better social conditions, increase opportunity to those who do not have access to education, technology or basic living conditions and help restore the balance of wealth to people who need it" * 10

:)

- Block reward 10,000 estimated (may be higher)
- Total coin supply: One Centillion (1 ~303) =


Are you kidding me?

I can live with clones, meme based coins, flavor of the month coin, spoof coins, but this douche of pre-mine and 3-4 coins launch at the same time actually made me appreciate offensive and racist coins ...

Centillion? really?? why do you even bother with life?

It's my first time seeing all those zeros in a crypto wtf O_o

Can't really say its a scam but it looks very edgy..

Hahahahahahaha

So manyyy coins....

It is scrypt or sha256?

sha 256 I guess... :)


Edit for OP:

I dont know how much you know about this but more coins != profit...

I would like to see someone counting daily earnings... -
So I mined only 10 000 000 000 today... Damn it!

:D

dear op,

your premine fucking sucks

there is literally zero reason for the premine to be above 0.5% other than for you to profit.

congrats, you can type a bunch of fucking zeroes into code that's not yours.

also, have fun dealing with number overflow. you probably didn't even think of that issue because you're not a programmer

wait a fucking second...



HAHA, get the fuck out


sincerely,

fucking everybody

where are the mods. there's gotta be a limmit. you allow something like this , what is next?

it's SHA-2560000000000000000000000000000000000000000000000000000

LoL :D

Alt with infinite coins? :D


Hahaha, good point :D :D

r u kidding me ?


2500000000000000000000000000000000000000000000000000000000000000000000000000000 00000000000000000000000

Op:

Dont you want to erase some 000?
No-one would realise it  ;)

so ,lets  1 2 3 4 5.............303   o  yeah   it is 303  "0"

- Premine: 3.5%
An estimated Pre-Mine of 3.5% is required 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.

Same story, different crapcoin. Next!

So one centillion = 1 * 10^303.

Block reward is 1 * 10^4 per minute.
You realise how many minutes that will need to mine the entire amount? Have you thought this through at all?

Hint: You'll need.... 1 * 10^299 minutes or ~ 6 * 10^300 seconds.
The age of the universe is 4.354 * 10^17 seconds.

Selling 1000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000

for 0.0000000000000000001 BTC ;D ;D ;D

shitman with shitcoin

I like the idea behind credits, but the huge premine and coin amount seems a little insane.

Due to the enticing nature and hype around Credits, several individuals have attempted to create knockoffs.

http://cryptocredits.org/index.html

This is the official website(About 99% Finalized). We will optimistically be launching in 1-2 weeks with a unique block reward system that prevents Pump N' Dumps as well as very early adopter dominance. Be prepared for a custom wallet, official marketplace, stable pools, gambling sites, competitions, and no pre-mine on launch.

dem zer0z

http://www.youtube.com/watch?v=IVy9XZXpcfw#t=3m

No serious. What data type for storage do you use?

Do yourself a favour and don't launch this coin....oooppphhs credits.

It has to be the worse idea in the universe.

Go back to school.

Seriously your premine is plainly ridiculous, the amount of credits is totally pants, soaking wet in brown colour, no nappies can support the brown stuff.

hmm stolen concept and indeed,

pre-mining is ok but ..........do not more then 1 or 1,5 % percent and be open with pre-mine coins what your doing with it,


be fare and share give all peolpe the chance to mine those coins, and promote them, by givaways


as i say stolen concept anyway.................



fail .................

It's funnier because he's serious.

Bring on the "selling one trillion Bitcredits for BTC".

3.5% of 1 centillion is billions times the block reward, the mined amount would never ever reach even close to premined amount.

"Only" premining 1.5% does not change that to one way or another.

I'd say an acceptable premine is something like 10 to maybe 50 blocks of regular block reward.

You shouldn't promote your crapcoin by doing giveaways (printing free money into circulation, creating inflation, devaluing the work of miners). If you don't have resources to promote your crapcoin via btc or some other currency, don't launch any more coins. You could offer to buy the mined coins up to worth 1 BTC or 1 million doges or something like that with a predefined rate you define in the announce. That would be something new & different and would show some dedication to your crapcoin.

Imagine you premined 2% of crapcoin resulting in 1 million coins, would you buy more crapcoins from the miners at 0.000000001 btc a piece? Most probably wouldn't.
 

http://www.wolframalpha.com/input/?i=%2810%5E303%29+mod+%282%5E64%29

Yep, if you're using uint64, that's one hell of a supply indeed.

soo, why not just have max coin to something like.. 1 000 000 000 000 000 coins?

So you are keeping for yourself more than we can mine in the next centuries...

Good luck.

There won't be any decimals then I guess

YAY BITCRETINS!!1

http://static2.wikia.nocookie.net/__cb20110313145821/uncyclopedia/images/7/70/Moron.jpg

a-hur-hur-hurrrrr

 ::)  So I'd expect the giveaway thread to give me 100000000000000000000000000  and the faucet 1000000000000000000000000 and maybe slab a logo for 1000000000000000000000000000 and if I am lucky win this on a dice game 10000000000000000000000000000000000000000000000
and on my first trade at cryptsy to be dumping 100000000000000000000000000000000000000000000000000

why even bother mining? better yet why you even bother to go on living?

on a little side note a dump transaction by the dev on cryptsy would look like this:

Amount of scamcoin  : 1e+73
Total BTC                : 1.642e+68
0.30% Fee (BTC)      : 4.926e+65                       * BigVern would be smiling all the way to the bank.
Net Total (BTC)        : 1.6370739999999999e+68  * Then the dev takes all the bitcoins minted in the world and flies to the Bahamas

and i thought i had to many of my own altcoin. NO thanks you can keep the credits