Bitcoin Forum

Introducing the new Proof-of-Contribution
https://i.imgur.com/2Y18xLI.gif

KiB is the first Proof-of-Work/Proof-of-Contribution/Proof-of-Stake coin. The PoS will be activated after the PoW/PoC period, which is expected to last 8 months.

Mining though the Proof-of-Work is about resolving a X11 algorithm. As any PoW system, the block finder win the block reward.
The new Proof-of-Contribution involve no direct mining: every Contributor will earn Coins, in any case, no Contributors will end with a 0 balance.

This new way to earn Coins during the distribution phase (PoW/PoC) do not require any premining from the developers team. Kibweecoin is 0% premined.

The Proof-of-Contribution concept solves a lot of problems than many developers have tried to fix. Unlike CPU mining, or mining though a game, the PoC is immunized against bots or any form of cheat while being fair with all Contributors (100% chance to earn Coins every Roll).

Each Roll, the Contributors sharing a reward.

Kibweecoin is green. Very green. You can turn off your computer and keep receiving the Coins from the PoC: you're a Contributor, your wallet will grow every roll, with you, or without you.




Specifications
https://i.imgur.com/2Y18xLI.gif

Monetary symbol:
Ꝅ
Unicode number: U+A744
HTML-code: Ꝅ

PoW Algorithm: X11
PoC Algorithm: None
PoS Interest: 2% / year

PoW Basic reward per block: 8 KiB
PoW Time target per block: 60 seconds
PoW Distribution: The block finder earn the reward
PoW Difficulty adjustment: Dark Gravity Well
PoW Reward halves: on block 43200 (4 from 8 ), 129600 (2 from 4) and 259200 (1 from 2)
PoW coins to be mined: 1.019.520 KiB

PoC Time target per Roll: every 60 blocks (60 minutes)
PoC basic reward: 472 KiB
PoC Distribution: shared between all Contributors
PoC total coins: 2.718.720 KiB

PoW + PoC total coins: 3.738.240 KiB
PoW/PoC Block maturity: 220 blocks
End of the PoW/PoC period: on block 345600 (target: 8 months)
 
Transaction confirmations: 6


Bounties
https://i.imgur.com/2Y18xLI.gif

As the Kibweecoin isn't premined, we won't deliver directly any KiB for your work.
Instead, on the release, we will give Shares as bounty.

Available Bounties:
 - Translations: 72 Shares (3 days of PoC)
 - Promoting on other forums/website: between 12-24 Shares (0.5-1 days of PoC)
 - MAC/Windows Wallet: 336 Shares (14 days of PoC)
 - Fixing the PoC Console English: depending of the work
 - Fixing the English in this thread: depending of the work
 - First Blockchain explorer: 336 Shares (14 days of PoC)
 - 2 firsts mining pools: 168 Shares (7 days of PoC)
 - Finding bugs on the PoC Console: depend of the work/bug

Translations done (no more bounties):
 - Chinese
 - Russian
 - Greek
 - German


Main Links / Social Network
https://i.imgur.com/2Y18xLI.gif

PoC Console: https://www.kibwee.com
Twitter @kibweecoin (https://twitter.com/kibweecoin)
Facebook: https://www.facebook.com/profile.php?id=100005694165617 (https://www.facebook.com/profile.php?id=100005694165617)
Cryptocoin Talk: https://cryptocointalk.com/topic/12021-14-17-june-kibweecoin-powpocpos-0-premine-new-proof-of-contribution-system/ (https://cryptocointalk.com/topic/12021-14-17-june-kibweecoin-powpocpos-0-premine-new-proof-of-contribution-system/)
IRC Freenode: #kibwee (https://kiwiirc.com/client/irc.freenode.net/#kibwee)


Events Calendar
https://i.imgur.com/2Y18xLI.gif

Pre-launch operation: 10 June.
https://bitcointalk.org/index.php?topic=642933.msg7228425#msg7228425

Kibwee.com: 11-12 June.

Kibweecoin Source Code: 13 June.

PoC Console Source Code: no date.


Exchanges / Marketplaces
https://i.imgur.com/2Y18xLI.gif

Allcoin: https://www.allcoin.com/ (not available yet)


kibweecoin.conf example
https://i.imgur.com/2Y18xLI.gif



Mining Pool
https://i.imgur.com/2Y18xLI.gif

http://kib.hashhot.com/

http://kib.minerpools.com/

• Pre-registration open
• Dedicated server 512 SSD, 32GB RAM, 8 Core Processor
• 24/7 support at #minerpools (https://kiwiirc.com/client/irc.freenode.net/minerpools) freenode channel
• Block finder bonus
• 1% Fees

http://kib.hashlink.eu

• Pre-registration open
• 1% Fee
• PROP Payout system
• Dedicated Servers
• High performance NODE.js backend with MPOS Frontend

http://kib.coin-miners.info/

• Pre-registration open
• 1% Pool fee
• PROP payout system
• Stratum with vardiff
• Stable SSD Server, DDOS protection
• Cashout are processed every minute
• Support at #COINMINERS (https://webchat.freenode.net/?channels=#COINMINERS) freenode channel

https://becausepool.com/index.php?coin=kib

• Single sign on across all the coins featured on the pool.
• 1% Fee
• Proportional Payout

http://kib.ssdpool.com/

• 0% Pool Fee
• PROP payout system
• DDoS Protected
• Clustered Servers+ VARDIFF
• 24/7 Monitoring on Stratum
• SSD for all servers for best performance

http://kib.suvpool.com

• Fee 1%

http://www.rockandpool.com/

• 0.1% Fee
• IRC Freenode Channel: #rockandpool (https://webchat.freenode.net/?channels=#rockandpool)
• Multi-servers

BTCTalk, other languages
https://i.imgur.com/2Y18xLI.gif

Chinese: https://bitcointalk.org/index.php?topic=644272
Russian: https://bitcointalk.org/index.php?topic=646859
Greek: https://bitcointalk.org/index.php?topic=648416
German: https://bitcointalk.org/index.php?topic=651081


Other links
https://i.imgur.com/2Y18xLI.gif

http://www.coin38.org/forum.php?mod=viewthread&tid=6823 (chinese)


PoC Description (Quick start)
https://i.imgur.com/2Y18xLI.gif

• The coin distribution is PoW and PoC, then will turn full PoS.
• The PoC isn't build into the wallet but on a dedicated server.
• The PoW and PoC work together.
• Every 60 Blocks (=1 hour), the PoC receive 472 KiB from the PoW
• This 472 reward is only for the Contributors who have Shares.
• 1 Share cost 0.0001 BTC. The Share max. number is unlimited.
• Every Contributors, every 60 Block, will receive KiB based on this formula: Your amount of Shares * (472 / Total Shares). We call this a Roll.
• Every Rolls, the Contributors losing 1 Share.
• You can turn off/on the Contribution anytime.
• It's an alternative to the mining. Peoples who can't mine, can Contribute and receive KiB.
• The PoC Console is web based and gonna be open-source on the long term.

PoC Description (Detailed)
https://i.imgur.com/2Y18xLI.gif

1. Proof-of-Contribution Basics

The PoC is PoW dependent: it's the Miners who are creating the PoC Reward.

The magic will occur every 60 blocks: on this special block, instead of sending the reward to the Miners, an higher reward (472 KiB) is send to the PoC Console.
On 60 mined Blocks, the Miners earn Coins only on the 59 firsts (59 * 8 = 472 KiB).

Then the PoC Console will share this reward between all the Contributors.

Here a small paper-scheme showing how it's working:

https://i.imgur.com/ZnllXV8.png


The Proof-of-Contribution part is pretty Centralized, but still require 0% premining from us. The PoC flow follow the PoW rhythm.

The PoC Console is hosted by a server (kibwee.com), accessible from any device. A robot will spread the Coins every 60 blocks between all the Contributors.

The Console gonna be Open-Source on the long term.


2. PoC Rewards Distribution

All active Contributors are 100% sure to earn KiB on every Roll.
But the distribution isn't equal. Contributor (1) can receive more KiB than Contributor (2).

A Contributor, to be active, require Shares, and the PoC turned On (you turn it off/on anytime).
The PoC Reward isn't split between each Contributors, but between each Shares.
The more Shares you own, the more KiB will be credited on your account.

On a Roll, the Console calculate the value of 1 Share.

The math is simple:
472 / Total Active Shares = 1 Share value.
(example: 472 / 8 = 59)

If you own 3 Shares, you'll receive 3x the Share value:
Your Shares * (472 / Total Active Shares) = Your KiB for this Roll.
(example: 3 * (472 / 8 ) = 177 KiB)

Here the paper example:

https://i.imgur.com/GHD998j.png


3. The Shares mechanics

Why you can't cheat the PoC ? Why multi-accounts, bots, etc ... are going to be inefficient ?

To acquire a Share, you have to buy it.
The price will be fair and accessible to all, the goal for us isn't to extort the Contributors, but to protect the PoC/PoW eco-system and keep the both balanced (read (3.) for more details).
We think 0.0001 BTC (atm $0.065c) per Share is right, making 1 day of Contribution costing 0.0024 BTC.

Every-time a Roll is over, all the active Contributors losing 1 Share (except if your Contribution is turned off).


4. Contributing and Mining, hand-to-hand

We need to keep the PoW and PoC balanced. All Miners will leave the PoW if the PoC is too cheap or if the PoW become not profitable. And all Contributors will leave the PoC if too expensive or not profitable.

Let's summarize !
Mining require:
 - Hardware (-$)
 - Electricity (-$)
 - Find the 'best' mining pool (-time)
 - Check if the Mining is profitable and turn off/on miners in consequent (-time)
 - Find the best setup (-time)
 - Occasional maintenance (-time)
 
Contribution require:
 - Shares (-$)
 - Check if the Contribution is profitable and turn off/on PoC in consequent (-time)

Both, PoW and PoC, require management to reach the ROI.

We want the PoC easy, secure against bots, very green, and to be the best distribution system, while not overkilling the PoW.

Make it at least X13 to reject FPGAs.

http://kib.pool.mn/ is ready for pre-registrations!
Mining will be available when Kibweecoin launches!
Feel free to register and configure your miners before the coin launch

http://kib.pool.mn/ offers:
• 0,99% fees
• Powerful dedicated server
• DDOS Protection
• Friendly support via email, jabber or support forums
• Skilled admin

Please, join us (http://kib.pool.mn)

http://pool.mn/Themes/Dilber/images/theme/logo.png (http://kib.pool.mn)

I'm setting up the first bounties:

Available Bounties:
 - Translations: 72 Shares (3 days of PoC)
 - Promoting on other forums/website: between 24-48 Shares (1-2 days of PoC)
 - MAC/Windows Wallet: 168 Shares (7 days of PoC)
 - Fixing the PoC Console English: between 1-48 Shares, depending of the work
 - Fixing the English in this thread: between 1-48 Shares, depending of the work
 - First Blockchain explorer: 168 Shares (7 days of PoC)
 - 2 firsts mining pools: 168 Shares (7 days of PoC)
 - Finding bugs on the PoC Console: depend of the work/bug

Also the coin is available on Altcoincalendar.info: https://www.altcoincalendar.info/coins/536-KiB
Be aware the launch date isn't exact at the moment and we may decay it more in the futur. I'll keep you updated.

As the coin isn't release yet, most of the Boutnies here aren't accessible yet.

i will be in .hahhahhahha

How to be a active contributer？I am so confused.

Hi,

the Proof-of-Contribution console will be available in +/- 1 week on kibwee.com.
To get Shares you'll able to buy them directly on the console (the price is atm 0.0001BTC/Share).

However I'll start soon a "launch operation" to provide 72 free Shares for the new comers. Stay updated ;)

If something isn't clear, I'll answer all your questions.

thanks for the reply,how many shares are there？

X 13 please, too much fpga miners already.

We can say that the number of Shares is unlimited. In reality we have 47.200.000.000 possible share, but this number it's impossible to reach so far.
Every PoC Roll, the active Contributors (if they have the Contribution turned on) losing 1 Share.

Here the example you'll find on the website when he'll be available:

+1000000000

x11 is now over

yeah, agree.

Or it is better to make it X15 or X17  ;D

I'm interested,how to buy shares?And,you got the estimated number of the shares?

Hashhot Pool  http://kib.hashhot.com.   Please add it to OP.

Haha why not ;)

Okay, I heard you about the X11 to X13.

But I'm not sure to switch for X13.

The Proof-of-Contribution is all new, I explain why I think the FPGAs are probably good, and compatible with this system.

At the moment most coins with a X11 algorithm are just stuck and burned by the FPGAs, if you don't have a bigga hashrate you have no way to compete, no alternatives. Your only chance to get some coins is to buy them on an exchange, participate to giveaway, etc... Yes, the PoW distribution is unfair. The PoS distribution is often unfair too for many reasons. It's always the faster who earn the more.

On the other side, FPGA are good to secure the network, it's harder for an entity to make a 51% attack as the global network hashrate will be high.

The PoC is an alternative to the mining, creating a simulation of the mining that require 0% premine ! Be a Contributor is like to be a miner, but with different rules on the distribution.
The PoC flow will follow the PoW rhythm. If the PoW perform well, the PoC too.

For the first time, all the peoples unable to mine, because they don't have the hardware, will "virtually" able to do it. Even with the worst computer ever you are 100% sure to earn coins through the PoC.

Even if I switch to X13, all lot of peoples won't be able to mine.

https://i.imgur.com/2YArXtS.png

As you see the PoW will generate ~2.5x less coins than the PoC.
We did it because we think, on the altcoin eco-system, we have more peoples unable to mine than people who can mine.

I don't want to screw the miners, and I don't want to screw the non miners.

EDIT:
I'll handle the poolers request soon don't worry ;)


You'll able to buy Shares when the PoC Console will be ready (in ~ a week).
On the console, all the stats will be available (total existing shares, estimation of your reward on the next roll, etc...), so you can check is they Contribution is profitable or not.

I wonder what will you take to support the potential marketcap of your coins from POC(NOT including POW and POS) ?
 47.200.000.000   * 0.0001BTC/Share  =4,720,000 BTC

The PoC receive 472 KiB every 60 Blocks.
All Contributors owning Shares will receive KiB, every Rolls (= 60 Blocks).
If I'm saying that the Shares cap is 47.200.000.000, this is because: 472 KiB / 47.200.000.000 = 1 SatoKiB. If we go over this number of Share, the system will not able to feed all the Contributors.
But forget this limit, it's just not possible to reach it: consider the number of Shares as unlimited. To reach this cap, we will need, for example, 100.000 Contribs owning 47.200 Shares each, while each Contribs losing 1 Share every Roll. Not possible within 8 months.

The Share cap isn't relevant. The important stuff is the Total of Active Shares.
If we have 100 Active Shares, and you own only 1, it's like someone with 1GH/s dealing against a network of 100GH/s. But unlike mining, even if you have 1 Share against 100, you'll receive Coins anyway (1 * (472 / 100) = 4.72).

Keep questionning if something isn't clear, I'll glad to answer ;)
The PoC will easier to understand when you'll able to try it live.

I reserve spanish translation  ;)

oh，i am interested，and can u make it easily to know？

in a short paragraph, what is it that we should be in awe about this ?

watching

http://kib.hashlink.eu (http://kib.hashlink.eu)
Pool is open for Pre-Registration :)

i will mine it :D

when the launch?

Anybody can  become Contributor and how is that posoble???

Thanks.I always have too many questions,sorry！
Here again, how to keep my shares active？keep my wallet open？or？

Spread the hash! we could use a bit more power here!

http://kib.minerpools.com

POC = a new IPO approach?

launch date??

Chinese translation:http://www.btclt.cn/forum.php?mod=viewthread&tid=3511&page=1&extra=#pid4306

Look funny ;)

mark,where is the lunach day?

This Coin has very good idea! when will launch?

Nice idea, but ugly logo. I will mine it!

Hi,

berkelip sorry dude, I'm deleting your topic. Your attack isn't justified.


I'll work to make the system easier to understand on the paper.

But atm:
 
1. The coin distribution is PoW and PoC.
2. Every 60 Blocks (=1 hour), the PoC receive 472 KiB from the PoW.
3. This 472 reward is only for the Contributors who have Shares.
4. 1 Share cost 0.0001 BTC. The Share number is unlimited.
5. Every Contributors, every 60 Block, will receive KiB based on this formula: Your amount of Shares * (472 / Total Shares). We call this a Roll.
6. Every Rolls, the Contribs losing 1 Share.
7. You can turn off the Contribution anytime.
8. It's an alternative to the mining. Peoples who can't mine, can Contribute and receive KiB.
9. The PoC Console is web based and gonna be open-source on the long term.


We are doing some tests on the PoC Console to ensure we have no bug. We think to release it in 1 week, but we have no fixed date atm.


No worries, keep questioning if you don't understand something.
The PoC is hosted by a server, the Console will be a web page. You don't require to keep your wallet or your computer turned on.
Just say to the console that you want enable the PoC, and you'll receive automatically the KiB on every Roll.


We made the PoC to create an alternative to the mining.
The PoC will be open-source because we want to allow no miners to have a way to earn coins.

nice  :)

Very good idea!

I like the look of Kibweecoin - Bot-free Proof of contribution has a good chance of being the next big thing in Crypto currency in my opinion.

Developer appears active / approachable too which is a good sign.

Hi,

thanks for the support !

1. Added a Quick start description of the PoC among the detailed one:


PoC Description (Quick start)
https://i.imgur.com/2Y18xLI.gif

• The coin distribution is PoW and PoC, then will turn full PoS.
• The PoC isn't build into the wallet but on a dedicated server.
• The PoW and PoC work together.
• Every 60 Blocks (=1 hour), the PoC receive 472 KiB from the PoW
• This 472 reward is only for the Contributors who have Shares.
• 1 Share cost 0.0001 BTC. The Share max. number is unlimited.
• Every Contributors, every 60 Block, will receive KiB based on this formula: Your amount of Shares * (472 / Total Shares). We call this a Roll.
• Every Rolls, the Contributors losing 1 Share.
• You can turn off/on the Contribution anytime.
• It's an alternative to the mining. Peoples who can't mine, can Contribute and receive KiB.
• The PoC Console is web based and gonna be open-source on the long term.

2. Updated the mining pool list, some are already pre-registering.

Mining Pool (not available yet as the coin isn't released)
https://i.imgur.com/2Y18xLI.gif

http://kib.pool.mn/

• 0.99% Fee
• Dedicated server
• DDoS protection

http://kib.hashhot.com/

http://kib.minerpools.com/

• Pre-registration open

http://kib.hashlink.eu

• Pre-registration open
• 1% Fee
• PROP Payout system
• Dedicated Servers
• High performance NODE.js backend with MPOS Frontend

3. Chinese Translation available: https://bitcointalk.org/index.php?topic=644272

why should a miner mine the 60th block if he/she already knows that his/her reward is zero for that block?

How do we buy shares? Is it possible to buy-in pre-launch like an IPO?

For this roll, it's 0.0803541 KiB per Share  1 Share cost 0.0001 BTC.
1 KiB will be generated from  1/0.0803541=12.44491569191 shares ?
1 Kib should be cost at least 12.44491569191shares x 0.0001BTC = 0.00124449 BTC to be profitable for Contributors ?

Hi,


Not sure your math is correct. More factors are involved, let's try to simulate !

If we retake the example on page 1 (https://bitcointalk.org/index.php?topic=642933.msg7180747#msg7180747): 5874 total shares, you with 150 shares.
On the next roll you'll receive 12.053115 KiB (150 * (472 / 5874)) and lost 1 share.
You got >12 KiB on this Roll for the price of 0.0001 (because 1 share got burned), but you bought 150 of them for 0.015 BTC.
On the long run, it's hard to say the total of KiB you'll generate because the number of total shares will not stop to move.

If we consider only this roll, it's profitable for you if the KiB price is over 0.0001 / 12.053115 = 0.00000829BTC
Maths details: to be profitable we need the 12.053115 * KiB price > 0.0001, so I did
12.053115 * x = 0.0001
x = 0.0001 / 12.053115

So the formula to calculate 1 Roll profitability is: 0.0001 / (Your amount of share * (472 / Total shares)) = Minimum value per KiB to be profitable.


You'll able to buy Shares on the release.
But I'll giveaway some Shares for the early users, I'll keep you updated on this threads and other social networks.


Not sure all miners will leave every 60 blocks just for 1 block ! Not mentioning miners can also be contributors.
I don't think it will be an issue, let's see, if that become so, I'll have to fix it.

This sure appears quite promising, and I DO love the fact that there is no anon in development in thread, it d be just another "trend" coin...


But then again, I just HAVE to ask, are there any other serious developments being worked on, like anon, encrypted messaging and such?

Any info on the dev team? I think people are just frustrated by the simple pump and dump coins, and wanna be investors in really promising ideas like this one, but they also need justification as to why they should expect the coin to not just disappear in the pump and dump sea

Hi,

At the moment we are 100% working on the Proof-of-Contribution. We need it perfect as we are going to share the source code.
We will start other development only when our work on the PoC will be over.


Yes sure.
You can get some data here (the phone number isn't correct), we decided to use no OvO to hide the informations:
http://www.whois.com/whois/kibwee.com

The dev team is me (main dev), my wife (2nd dev) and my rat (buttress).
The name of this coin coming from my IRL nickname. Kiba Walenty -> Kib Walee -> Kib Wee -> Kibwee.

We will expend the dev team slowly on the need and when we will find trusted devs.

KEEP WATCHING~

Hi,

added the IRC Freenode on #kibwee (https://kiwiirc.com/client/irc.freenode.net/#kibwee) !

I'm glad to announce that we are finishing the lasts tests on the PoC Console, we should start pre-registering + pre-launch Shares giveaway soon !

Stay updated ;)

The POC is just another kind of IPO , dev.
I am sure I have understood it.

I don't think your complex IPO will add any value to your coin.

POC :1.buy shares from dev--2.ask for joining in mine, then your shares are active--3.get coins from your active shares.
You don't need to anything inculding open your PC  after step 1 and 2.
So , it is an IPO guys.

thanx for ur reply

watch this. :)

LOL why would it be a scam? Just because it is another way of IPO.
And it is still a lot safer in my opinion than the original ipo where you send btc to the dev even before the coin launched.

Not to mention that most of the IPO buyers dump their coins on exchanges at first chance. With this system they will get x amount of coin every hour, same as other share buyers. So they can not dump a huge amount of coin on any exchange at the start.

And even if the coin does not have any innovation technically I still would say that this new ipo "POC" is innovative because it makes the traditional ipo a LOT better.

So I would not say there is no innovation

Hi,

Let's clarify this.

It's not an IPO. Here the definition of an IPO: http://en.wikipedia.org/wiki/Initial_public_offering

IPO for crypto-currencies are dangerous because you have to send money even before the coin is released. This also involve premining.
KibweeCoin is premining free, and IPO free.

PoC is to simulate the mining for all the peoples who can't mine because they have no hardware/hashrate. This process is progressive and will last for 8 months, and follow the PoW rhythm.
Miners spending time and money. Same for the Contributors: we can't give the coin for free, else he would have no value on the market, and no miners (why spend electricity when you can get the coin for free?).

And as Globee07 mentioned, the system also reduce the dump power on the market: no early big buyers. You're all equal.

YYmeans, you post has been deleted. I'm okay to discuss but I'll not allow direct and not justified attacks.

interesting concept.

2 questions.

1. Why the newbie account --- what is your normal account

2. why the self moderated thread?

Hi,

It's my first time on BTCTalk, and it's also the best place to promote a coin ! I started on CryptocoinTalk but really more peoples are here.
The thread is self-moderated to mainly avoid attacks spam.

As you can see I'm not censoring peoples who don't appreciate the idea if they are about to discuss (just watch above).
But I'm censoring peoples throwing direct and not justified attacks, who are just spammers.
Until now, only 2 posts has been deleted.

I'll answer all questions, positive or negative.

it's up to you
never mind
enjoy the roll guys :)

I will have to keep my eye on this coin

Before I buy a share, will I know how many are already sold or it's pure gambling?

interesting coin, i will keep an eye on it. Is there an ETA of launch?

I reserve Russian translation

You'll know the quantity of Total Shares (active + inactive, so you know the number of Shares that can be activated back) and the Total Active Shares (so we can get the estimation of the amount of KiB you'll earn on the next roll).
edit: also the number of active contributors (to know the quantity of shares willing to be dumped on the next roll)


Very soon, I'll start the pre-launch announcement today.

Pre-launch Operation is OVER !

Pre-launch Operation

The Kibweecoin launch will come fast !

Here the 3 steps of the launch:


So today is the pre-launch free Shares giveaway.

We are going to distribute for free 72 Shares (3 days of Contributions) to 10 peoples. So a total of 720 free Shares are about to be distributed.

You can subscribe from now to claim the 72 Shares by sending me a Private Message.
Your Private Message must contain your email address (this is mandatory). When you'll register on kibwee.com, we will recognize you with your email.

Tomorrow (11 June) at 4PM (GMT+1), the subscriptions will be over.
I'll pick-up, randomly, 10 users in the list to get the free Shares. If you're selected, I'll send you back a Private Message with the instructions to follow.

To subscribe, your BTCTalk account must be minimum 5 days old, and your activity above 10. Don't forget your email !

when the launch?
is it correct? https://www.altcoincalendar.info/coins/536-KiB

Yes should be !

We may have to delay it a little, in that case we will keep you updated here and on twitter.

Russian translation is done
https://bitcointalk.org/index.php?topic=646859.msg7230550#msg7230550

PM sent

I hope to get free shares giveaway

thanks

Great !

Thank you.

I'll contact you back by PM for the bounty !

ps: OP updated

I'm already loving the proof of contribution. my computer is like 50 years old lol, can't mine anything with that shit. I'll give a try to kibweecoin.

I reserve french translation

cheers

https://dl.dropboxusercontent.com/u/16846826/banner%20countdown.png (http://www.cryptolaunch.net/kibweecoin.html)

PM sent

I hope to get free shares giveaway

点发送

我希望获得免费赠送的股票

谢谢

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Updated the OP

• Added the minerpools details
• Added CryptoLaunch link
• Added new promotional links

The pre-launch operation end @ 4PM (GMT+1) Today, keep subscribing ;) !
Details here https://bitcointalk.org/index.php?topic=642933.msg7228425#msg7228425

there are only 3 million coins total. What are you talking about?

He was doing some math with the Shares, not the Coins ;)

I told him that the Shares cap is unlimited. And with the PoC mechanics, Such calculations can't really work.

My answer was here: https://bitcointalk.org/index.php?topic=642933.msg7184320#msg7184320

expecting to be 1/10 :D

I hope this coin gets somewhere, there really is too much emphasis on anonymity in coins lately, poor VTC has suffered as a result, as people keep dumping to have more BTC to throw into the pump, it's only going to go up due to the new Stealth Address feature (VTC's own anonymous implementation).

I support this coin, and will mine it with my rig, I only have one X11 mhash, but network hash, is network hash. :)

Hi ShadowOfScales,

thanks for the nice words. I think lots of devs are just copying what is famous, and a lot of peoples falling into this hype. Anonymity is a famous feature at the moment, I have to admit that it's a great one.
Anonymity, Stealth address are both great, but nothing new. With KiB we expect to create new features instead of just implementing the olds already realized.
No saying we will never add Anon or SA. However we prefer stay concentrate on innovation, this is what the cryptos need.

At the moment we are at 100% on the PoC and on the PoW/PoC eco-system.
Then we are going to work on new features and find new ideas.

Added the KibweeCoin monetary symbol on the OP:

Ꝅ

Unicode number: U+A744
HTML-code: Ꝅ

And I have a great new for all of us !

Allcoin.com (https://www.allcoin.com/)
accept to add the Kibweecoin on the exchange right after the official launch !
We can thanks James for this offer ;)

PM sent  :)

1 hour and 40 minutes left for the Pre-launch subscription !

Details here: https://bitcointalk.org/index.php?topic=642933.msg7228425#msg7228425

Pre-launch subscriptions are over !

I'll pick-up randomly 10 of you soon. Stay tuned !

I have 58 subscribers. The dices will decide ! Good luck ;)

The POC sounds interesting. I will probably mine this.

Common dice, roll my way :) Waiting eagerly for the results. Any ETA?

goodjob

so, miners will have to dump kib to buy shares?

Trying to understand the maths & PoC concept again.

Lets say I own 100 shares. So value of my shares now before PoC starts = 0.01 BTC. Assuming I am a contributor always, everyday, I will be losing 0.0024 BTC. So by beginning of day 5, I would have lost all my 100 shares. Now at this point, how many shares will I have gained?

Also what does it mean by losing a share? Who takes it from me?

I find this PoC quite interesting but unfortunately its' dependant on PoW based on your description and it is just a let's called it "socialist" PoS.

So you can't really claim it is a new algo , more an improved version.

But still an improvement from the copy paste coins that flood the market.

Keeping an eye on it.

Have you done any tests for it via a testnet?

I'll start to send private messages to the winners in about 1 hour, when all messages are sent I'll tell it here. If you don't receive any message it mean you can't claim the free Shares.


No, anyone can get Shares.


Not sure to understand the question, tell me if my reply isn't well !

You are losing Shares only if you are Active. If your contribution is turned off, you don't lose any Share.
Nobody taking your Shares, they are just disappearing from the system.

The "Share dump" mechanics is a fact to stabilize the market and also to keep the PoC fair compared to the PoW. We can compare Shares for the Contributors with Electricity/Hardware for the Miners.
Every Roll, every Active Contributors losing 1 Share. The more Active Contributors we have, the higher is the dump.

I made a small scheme to explain this. It's a very very simplified example just to understand why Shares are dumping to stabilize the market. With this scheme you can change the Shares for the Hashrate to compare with mining.

https://i.imgur.com/fjk2jMv.png

TL;DR
1. You don't lose Shares if you turn off the Contribution
2. The Share dump is to keep an equilibrium between the PoW and PoC
3. The Share dump is also to stabilize the market


I would say it's the "socialist" PoW, and not "socialist" PoS ;) Yes indeed it is.
It's also indeed not a new Algo.
Algos can't solve the issue I'm trying to fix with the Altcoins: allowing "mining" for all. CPU miners tried but failed because of bots. Game mining too. A good bot will always own an human.

Don't bother...there is no solution and there is no such thing as a fair distribution.

No matter what algo or way of mining , it won't help a guy that has no computer or that didn't heard of your coin until it's too late and he won't get the same share as the first adopters

Coins are not meant to be a re-distribution of wealth.

Better focus of usage and ease of use.

Sorry if I missed the answer to my question but what will you do with the BTC collected from people who buy shares? Pure profit for you?

May I suggest that you take those bitcoins to buy Kibweecoins in the market? Then add the KiB to the PoC reward. If you do that it will put a buy pressure in the exchange, keeping the price higher (like multipools do for many PoS coins). Also it will increase the reward, an incentive to purchase shares.

https://i.imgur.com/dSAlr80.png
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Update the OP:

• Added Greek translation: https://bitcointalk.org/index.php?topic=648416
• Added Pool: http://kib.coin-miners.info/

We are writing the paper and thinking of the future plans for KiB.
At the moment we minding to split the earned BTC in 3 parts:

• Refund us for the PoC Server cost
• Fund some project/devs working for the Kibweecoin
• A part will be used to, as you said, pump the coin

The paper will expose our projects, you'll have more details and numbers on it. We have no dates yet for this paper release, but during this time we have up to hear the community suggestions ! I think we can pick-up great ideas here.

Thanks for the illustration Kib. I think I understand. From a layman's perspective, on an average, just wanted to know if I will win or lose if I am continuously,  actively and always contributing?

The dices decided the winners for the pre-launch Shares giveaway !

If you didn't received any Private Messages... I'm sorry you didn't won :(

I hope you'll be part anyway of the project !

Interesting but please use a better name. If you want the coin to be mass adopted keep it simple.

It's hard to predict.
I think if you're 100% continuous, you'll make less. You may have to stop the Contribution on bad periods.

Like a miner mining a Coin, if he want to max the profit, he will have to leave it on non profitable period, then come back when it start to be profitable again.

A question: What are future projekts for this coin? After 8 months is POW/POC down, the revolution (POC) is down.

console looks nice, logo looks nice, new algo always nice
im just to dump/ to understand the new algo  ;D
ill fallow this thread ...

Hi ZyTReX,
In the next future our main line are:
to make perfect the PoC by adding new stuff:
 - API to make able dev to create apps on the PoC
 - Ability to withdraw the Shares with a 'code' system (like the BTC-e Code)
 - Keep improving by listening the users

build around the coin. We will need a better well designed website to present the coin, a blockchain, charts, more exchanges.
When the PoC will be ready we will make it open source. The revolution won't be down as any other dev will able to use the system. We create the POC for all.


Hi McHammer,
The POC isn't a new algo as you don't have to resolve any maths to earn coins. The POC will work without any need to keep your wallet and computer turned on as a server will manage everything for you.

I didn't receive pm ;D
it's OK
I'll buy some shares later :)

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SO BAD!

I think POW is POC!

Then you dont understand POC.
What you think is the same in POW and POC?

how POC works, i don't get it.

Every 60 minutes the contributors get Coins (Block Time 1 minute)
All contributors get 472 Coins.

Now we assume that you have 28 Shares and I have 13. (we are alone in network for this example)
(You can buy shares after launch)

Your reward for block 60 in POC: 472:41 (41=all shares) = 11.51219512
You have 28 Shares: 11.51219512 * 28 (Your shares) = 322.34146341

322.34146341 is the reward that you get for Block 60

theoretically!!!!  ;D

You can lose your shares. A post from Kib: https://bitcointalk.org/index.php?topic=642933.msg7253957#msg7253957

Kib when I have said a false information say it :D

I removed 1 post here for troll attack

Hi !

You're all good ZyTReX ;)
The practice will be easier than reading the theoretical part.



Kibwee.com is now live !

We are entering in the 2nd step of the pre-launch.

You can now connect to kibwee.com (https://www.kibwee.com) and use all the functionality and start to discover the console.
The website is live, but the coin isn't release yet, so no Rolls will happens.

If you won the free Shares giveaway, you must register before the coin launch, so I'll credit your account. Same for peoples with bounties pending (I'll contact you all by PM).
Else you can create an account right now.

It's up to you to buy Shares to be ready for the coin source code release. As soon as the Miners will start to work on the PoW, the PoC will follow the move naturally.
Don't forget to Activate the Contribution, it's disabled by default (you'll lose no Shares as no Rolls will happen).

What will happen on the Coin release ?

The first Roll will occur on block 280 only.
It's because the Coins need to reach the Maturity (220 blocks) and because the first sending happen on block 60.
After the block 280, we will have 1 Roll every 60 blocks during the 8 months of distribution.

The pages are updating by themselves, so you can stay online on "Account" and watch the progression.

If you have any questions, it's maybe better for you to ask them before the coin release !

Very impressive so far.

I didn't win either. Would be glad to see those who won :) Also, on which date will I be able to buy KiB shares? What's the max no. of shares going to be sold that way?

Hi,

I didn't post names here to keep privacy, but your request is fair-enough.
I'll send them a PM asking them to post here, they'll do it only if they accept.

We have 9 winners here and 1 on CryptocoinTalk. 4 of them are still not registered.


The Share cap is unlimited.

I'm the winner  :D  Thanks for Dev!

I have received 72 shares。

I recibed 72 shares too

https://i.imgur.com/s4wEgLX.png

j'ai perdu :(

good luck for this coin

Thanks KiB. I am trying to understand the share cap. Any direct relation (or prediction possible) between shares and coins? x Coins = y shares ?

I am one of the winners ;D

Well, the Share cap isn't a factor in any calculations.
The important factors are:

• Total Shares (active + inactive)
• Total Active Shares
• Your Shares
• Numbers of Active Contributors

Each Roll the system calculate the value of 1 Share:
(472 / Total Active Shares) = Y

Then, for example if you have 72 Shares, you'll earn 72 * Y

This math is available directly on your account dashboard.

The Total Shares (active + inactive) is important cause you know the amount of Shares that are sleeping.
The Number of Active Contributors shouldn't be underestimated, because it's the quantity of Shares getting dumped on a Roll (1 Share per Active Contributor).

Sorry for asking too many questions :) May be it's too obvious.

The reason for me asking about share cap is because I am trying to predict a possible market value for KiB based on the total no. of coins & the number of shares. Assuming I am not a contributor and just a shareholder, I am trying to see if I am paying a good value for the shares I bought. Thanks for your answers.

Dev the website is flagged as malicious

The SSL is self-signed. Nothing malicious but the browsers (firefox, chrome, ie, etc...) sending an alert (a harsh alert...) telling it to you.

Yes just click on Proceed if you are getting a warning message. That should be fine.

And Kib, I like your website. Well done. So I believe I could start getting shares with my new account there?

Yes sure !

I'm one of the winners.

Thanks dev!  :)

Where is the proof that FPGA X11 miners exist ?
please send me a link, I want to buy some.
Seriously.

I received a PM from the developer sometime yesterday affirming that I had been selected for one of the ten bundles of 72 shares.

I'm excited and cannot wait to see what this coin has to offer; in the mean time, I'm actively contributing.

Thank you developer!

Think I'm the last to confirm. Looking forward to the mining release now. What the dev seems to have which is quite unique is a rare form of efficiency.

How to apply application?

(this guide will be implemented on the website and on the OP here)


The PoC is centralized on a dedicated server, you only require an internet connexion and a device.
You can access to it from any device.


1. Connect on the website

https://www.kibwee.com


The interface is simple and intuitive.
You should read the Rules before start anything else, this is a very important step.



2. Create a new account

Go on Register to create your account.
Make an unique and strong password !
Your email will be used to recover a password in the case you lost it.


If something wrong happen, a message will pop on the bottom-left of your screen.


The message also pop on an action succeed.



3. Sign-In

Once you're Registered, just go Sign-In with your Username and Password !


If you forget your password, an option will help you to restore it.


4. Your account

A new menu appear, letting you access to your account and to the PoC data.


By default your Contribution is disabled.
It mean you can't participate to a Roll.


Below the PoC data, you can act, including Activating your Contribution.


If you click on 'Start Contributing', you'll become an Active Contributor. It mean you'll participate the the next Rolls.
To stop Contributing, just click back on the same menu.

Even if you are Active, you'll need Shares.
By default, you're starting with 0 Shares


You can see the number of Shares you own, and in real-time, the number of Active Shares.
The Shares become Active when someone activated the Contribution.


5. Get Shares

To get Shares, you need to buy them. They aren't free for many reasons.


Shares are like your electricity: it's a consumable.

Once your account receive the Shares, and if you activated your Contribution, you'll participate to the next Rolls and receive coins.



6. Participate to a Roll

Now you're ready to participate to the next Rolls.
Every 60 Blocks a Roll will happen.

Every Roll you'll earn Coins according to your amount of Shares and according to the Total Active Shares.

Anytime you can ask to withdraw your Coins on your wallet.



7. What's the next ?

Nothing. You can turn off your device/computer.
You're now an Active Contributor. The Rolls can happen without you.

You'll only have to comeback if you wish to disable the Contribution, withdraw your Coins, or buy more Shares.


8. Summary

 - Register
 - Sign-In
 - Go on your Account
 - Activate the Contribution
 - Buy Shares
 - Wait for the Rolls
 - Withdraw your KiB


9. Any advices ?

Read the Rules and enjoy.

Kib, can I get some free shares as one of the first participant?

can't wait for this coin, I believe this dev is doing his best to ensure that this coin stands out from the rest.
Keep it up dev!! ;D

according to firefox -

"www.kibwee.com uses an invalid security certificate. The certificate is not trusted because it is self-signed. The certificate is only valid for Kibwee Coin (Error code: sec_error_untrusted_issuer)"

Just sayin...

At the moment the SSL certificate is self-signed.
This message just mean that I'm not in the FF database.


Sorry, no exceptions.

No Problem

I can not use special characters in my password, getting an error while trying to register at https://www.kibwee.com/
I left them out so i was able to register, just letting you know.

One quick question to add, is it possible to sell shares if I decide not to keep them anymore?

The 2 next features to come on the Console are:
 - A Public and Private API
 - Possibility to extract Shares in a form of a Code, like the BTC-e Code.

So yes, but not for now !

By the way, we are working to get a trusted SSL, at the moment we are dealing with the self-signed one.


You should get a red alter message on the bottom left of the screen when it happen. Did you got it ?
Indeed you can only use alphanumerics characters to register.

Try ssls.com,  They are pretty cheap and accept BTC

Okay the Certificate is now a 'trusted' one ;)

It's okay from my side, if just 1 can confirm.

Yup, all is good Kib  :D

Awesome, thanks for the feedback !

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no Wallet?

(W0rkH0rse: your topic has been deleted for free troll attack.)

For today launch

Hi,

today is the Coin source code launch, and by the way, the PoW will start with the PoC.

To get the release hours please check here:
https://www.altcoincalendar.info/coins/536-KiB
http://www.cryptolaunch.net/kibweecoin.html

In no cases the coin will release before the hours above.
Even if we should be on the right time, it may happen that the coin will release with a decay of maximum 1 hour.

The link to get the sources is here:
https://github.com/kibwee/kibweecoin

For the Contributors:
don't forget to enabled your Contribution from the website if you want to be in the firsts Contributors.
The first Roll will happen on Block 280, after this Block, every 60th Block will generate a Roll.

If you want to become a Contributor, you can find a Guide here: https://bitcointalk.org/index.php?topic=642933.msg7276036#msg7276036

Windows binaries, or only sources ?

Hello, I would like to claim the translation in French :

https://bitcointalk.org/index.php?topic=650726

I am finishing details right now but I claim the fact that I am the first to make a French translation.

One more question. Lets say I buy some shares at 0.0001 now. After 20 days, when KiB is at bittrex trading at some price, will the share price increase correspondingly? And is it possible to convert my shares to KiB coins and sell at bittrex later?

I will admit this is an interesting concept and I'll be paying attention to this. Good luck with your launch later, hope it's smooth and without trolls.

Sources at the moment.


That's 2 questions  ;D

To be fair with everyone, we are not planning to change the price, except in case of absolute necessity.

You can't turn your Shares into KiB. As the coin isn't premined, we have only 472 every 60 blocks to splits between all active contributors. But as said upper, we will work on a way to extract the Shares in the form of a code (like the BTC-e code).

Your coin has been added to the Altcoin Launch Calendar:

http://altcoinherald.com/3838 (http://altcoinherald.com/3838)

We'll stay tuned for further developments with your coin.

https://i.imgur.com/gTrGwgk.png

Thanks altcoinherald, I updated the OP.

woooot launch day!

what's special about this coin? Dont get the Proof of Contribution thing? How do you measure if someone has contributed?

Nice to see an innovative coin around here lately. Good luck with the launch dev. :)

Wow, this one takes some brainpower to follow!

I'm still a bit confused, but I think I get the main concept. Like many, I am unsure how this is superior to an IPO, but I do get that fairness is the goal.

47 billion "shares" versus actual coin number can be a bit confusing, but I see why you say that share totals are "irrelevant".

It is very (very!) difficult to comprehend if the share price is reasonable. And the fact that one cannot sell their "shares" but may be able to (some day in the future) do something or another in the blockchain is well, above my head at the moment. (I will have to dig in further on the concept, I guess).

Overall, I think the concept is a really fun idea, if nothing else. It even involves a bit of strategy as to when to turn on and off the shares.

A couple of minor, well, suggestions, I suppose, not really complaints. As English is clearly a second language to you (Kib), you are doing fantastic. But, you know, as actual English goes, well, you need a bit of work :D . That doesn't really matter of course as, for the most part, you are perfectly understandable and your work on the coin is unrelated to whatever language you speak. Anyway, I'm just saying that after the initial rollout, you might want to think about maybe recruiting a friend who speaks English to give you a hand on the thread. It is definitely not fair, but I have found that many people are distrustful of coins where the main guy on the coin can't speak English. Think of it as the Wolong effect. (Wolong is a famous coin scammer, supposedly from China).

Which brings me to the name. I have seen people on this thread complaining about it. I think this is where the language gap comes into play. Kibwee may sound awesome and maybe even clever (who knows) in your language. However, it is a bit awkward to say in English. A "B' followed by a "W" is just not common in English. In fact, off the top of my head, I can't think of one word that uses those two letters together. Anyway, I think that is part of why you are getting complaints about it -- it's certainly no reflection on you.

But, back to the more important things:

This seems like an exciting new concept and I can't wait to see how it goes! Good luck to KIB!

I think there was a bounty for correcting the english thread, why not do it and reap the reward  ;D

patiently waiting for lauch to start mining :)

just wanted to pass along that i bought a few shares and they were properly credited to my account.
In case any of you were a little uneasy about it, it seems to work just fine so far  :)

Bought 1k share and they also were credited without problem. Now waiting for launch  ;)

Hi,


Could you expend a bit and explain why to you think it's a bad thing ?

I'm up to debate on this, I made this thread self-moderated to avoid trolls and not justified attacks. Until now 3 posts has been deleted and I told it each time I did it:
https://bitcointalk.org/index.php?topic=642933.msg7212258#msg7212258
https://bitcointalk.org/index.php?topic=642933.msg7194177#msg7194177
https://bitcointalk.org/index.php?topic=642933.msg7286530#msg7286530


I can understand that the theoretical side is pretty harsh to understand. The concept is very new, peoples have a lots of questions.
The relationship between the PoC mechanics and the market is very important and lead to a lots of maths, schemes and explanations.
For a basic practice, PoC is very easy to get (just check the website for a better understanding).
If you have any questions because something isn't clear, I'm here to provide an answer.


Yes English is a second language and absolutely not my native one. The mainstream for Crypto is in English, and I have to deal with that.
As Francecrypto said, I have some bounties pending for helping me to fix my typos or mistakes.
I'm aware of the importance to have a perfect english, we will only reach this with the help of native speakers. We may even have to recruit a community manager in the future.


Kibwee is harsh to say for most peoples, even on my language.
I like the "UFO effect" of this name.
But if this become a real issue, we will change it, just for KibCoin or so.
Anyway, thanks for your detailed feedback.


Thanks ! We are very impressed to see so many peoples supporting the project.

Finally, a little innovation! I think PoC will bring some investors here. And 0% premine is great. I will mine this.

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Mining will be available when Kibweecoin launches!
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- Reminder -
The sources code release is in ~2 hours, if you're a Contributor and want to Contribute straight after the launch: don't forget to turn on your contribution !

Kib. You the man. After asking so many questions, I think I finally understood how this whole system works. This is very innovative. I am a shareholder now and have turned on contributions. All set for the KiB roll :)

POC seems really like an IPO  ???

It seems like it but it's completely not. Even if it is, this is innovative, so I wouldn't mind. Some IPOs have won for innovation & dev work.

And how long does it usually take for the deposit to be converted to shares? Mine is currently pending.

was about 6 confirms, took me about 40mins

Thanks mate. Will wait for some time.

You're welcome, if you have any other questions, you know where to find me ;)

edit:
updated the OP with a new pool: http://kib.suvpool.com

You have to wait the bitcoin payment is fully confirmed, check it in your wallet (and keep it open until it's done)

I  want some shares . :(

Thanks. Got shares credited.

And one suggestion. To make it fair for early adopters, the share price has to gradually increase every 'n' days by some 'x'. Otherwise I will be getting lesser and lesser KiBs once more active shareholders are on board which is logically fine but I would like some advantage for being an early adopter. Kib, please think about this. Thanks.

the whole point of the POC system is to stop the very thing you want from happening.....

Well once they is more shareholders the amount of KiB earned will be less and the price will go up. So that's how you get rewarded as an early adopter i think. Unless mining yield way way more coin than shareholding.

RockAndPool I guess you're going to add KiB on your pool ? Could you just confirm ?

Yes, i will ad it at the launch :)

Do I understand it well?There will be no wallet till the end of POW?

Okay thanks, I updated the OP.

I also added the German translation: https://bitcointalk.org/index.php?topic=651081

I updated some bounties, please check on the OP.


At the moment I need someone for the Windows and MAC wallet. A bounty is pending for it.
Only the sources are going to be released.

I like this coin and would like to do a nice promotional blog post on my Coin blog..Are bounties still going for promoters? I also have a big twitter an account and fb and skype.. :)

I can do the window wallet

So nothing for solo miners.....

Would be very nice.

When it's done please send me the link by Private Message, also give me on the PM your email address so I will credit your account with the bounty.



Send me a PM please with more details ;)

When will wallet be available for download? Any ideas?

 ::)

think after lunch :o

http://kib.pool.mn/ will be ready for the launch! Join us  :D

http://pool.mn/Themes/Dilber/images/theme/logo.png (http://kib.pool.mn/)

whats exact launch time? im in Florida so eastern time

should launch in 3 min

no solo no party

+1 8)

+1 8)

RELEASED

Github sources: https://github.com/kibwee/kibweecoin
Direct download: https://www.kibwee.com/downloads/KiB_sources.tar.gz

Happy mining, happy contributing ;)

https://becausepool.com/site_assets/global/images/becausePool2.png (https://becausepool.com/index.php?coin=kib)
Wallet Compiling. We will be live shortly!
https://becausepool.com/index.php?coin=kib (https://becausepool.com/index.php?coin=kib)
stratum.becausepool.com:3367

Source compilation screwed, time lost. I hope one day all this lame devs will loose all money they got from such launches and will wake up near strip bar absolutely nude and without a dime in a pocket.

another scamcoin?

https://becausepool.com/site_assets/global/images/becausePool2.png (https://becausepool.com/index.php?coin=kib)
WE ARE LIVE!!!
https://becausepool.com/index.php?coin=kib (https://becausepool.com/index.php?coin=kib)
stratum.becausepool.com:3367

LOL，maybe！

Working....

http://kib.pool.mn  is go

http://kib.minerpools.com is up and running, come on in!!!

I suspect this proof of contribution is a hidden kind of IPO.

+1

Okay,I am out....Another shitcoin

.

It`s infected for sure! When will wallet be released?

cant open the wallet!!!!!!!!!!!!!!!!!!!!

this guy isn't coin author, it's a virus, I downloaded it on my mining rig and now teamviewer doesn't work anymore, I'm going to fix it, sadly, I will not be on the launch of this coin because of this fucker

LAUNCHED http://kib.ssdpool.com

http://blog.avast.com/2013/09/25/win3264napolar-new-trojan-shines-on-the-cyber-crime-scene/

As far as I am concerned I haven't finished compiling... and have to fix things on the fly

I haven't downloaded the virus wallet, but mining on pool is working just fine :)

Okay, I deleted all the posts containing this windows wallet.
It's 99% sure that's a virus.

I'm not the author of this wallet, please download only the files from the main threads.

A Word of warning about that wallet

I downloaded a rogue wallet, It bypassed all my security and stayed hidden on my PC stealing keystrokes and even managed to transfer my wallet.dat. I would expect this is the case. I lost nearly everything emails, paypal, bank account, exchanges were all hit.

I cannot recommend a solution! I had to fully wipe all my computers.

http://kib.ssdpool.com/ (http://kib.ssdpool.com/)
0%  FEE, and get all bonuses for find block
PoW Basic reward per block: 8 KiB
PoW Reward halves: on block 43200 (4 from 8 ), 129600 (2 from 4) and 259200 (1 from 2)

yes, it seems very dangerous, I still can get an access to my rig, and I don't come back home until days, I try to shutdown the thing with my other rig but it doesn't want to work, only pings are working, even if they are slow...

I don't have another wallet on this PC so it's okay anyway :)

not even 200 blocks into it, and the diff is already close to 300...

How come the only coin launch without an official wallet , someone has a wallet ready with a virus

SCAM COIN

WTF !!!!!!!!!!!!!!SHITCOIN!!!

https://i.imgur.com/dSAlr80.png
http://kib.coin-miners.info/
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Cashout are processed every minute.
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Big FacePalm... So where is the real wallet.. I didnt understand that

ok send my wallet, might be a bit late...

jeezus fucking christ, people - the virus wallet did not come from the dev...

it came from some random poster, a few minutes before launch, and before the official wallet was released...

some people got greedy, and downloaded it so they can get a jump start on everyone else, and got fucked, but it has nothing to do with the dev or this coin...

You don't have any antivir on your rig?

great said  :) with black and white slow teamviewer, I wasn't enough patient to check if it was ok, so I got fucked, whatever...

Virtual machines are our firends mates

Scanning rig with AVIRA nothing found yet,

Yeah the real wallet is on the first page now as usual. I mean come on people, you downloaded a random virus crap file from a newbie 0 post that didn't had the name of the OP. What did you expected?  ::)

There is no official wallet released , dev didn't want to launch a wallet because he know about the virus wallet  and he's excuse now is people should not have downloaded other wallet , but the question is why he didn't launched the official wallet ?


SCAM COIN - VIRUS WALLET

C'est clair!

Antivir for what? Antivirus are only efficient to find outdated or unencrypted viruses. If the virus has been recently crypted you Av will just open the door and say  : Welcome home legit program. lol

you just said there is no wallet... how could it be a "virus wallet", if it doesn't exist...

wtf ?

Je crois que t'es francais, ce sera plus simple, j'ai une machine dédié qui me sert a scanné les wallets, et j'ai testé celui la, meme pas eu le temps de le dl que eset m'a dit direct, vérolé

WHERE COULD I DOWNLOAD BINNARY WALLET NOW?

Look on Page 1 Post 1. Be patient.

Sending 600Mh/s to http://kib.suvpool.com/ get off Pool.Mn folks!  Pool.Mn already has over 51% of hashrate, let's distribute the hashrate!!!

Are you a NOOB?  There's no virus on these wallets, you can see that the virus thinks Bitcoin program is a virus.  Just TURN IT OFF!!!

UPDATE: OOps, I do see you are a newbie, sorry.  No harm intended.

you know that was the dev posting a link to a compiled qt, right ?

and the virustotal link was included to make sure that people stop claiming that there is a virus in the wallet etc...

edit... looks like you beat me to it, nvm :)

end yourself

Guys we need a few coins for test to add KIB/BTC market.
Can you send me a few?
Thx.

Regards

I love people who jump in the middle of a thread and make themselves look dumb.   :)

s there some diff or something for first blocks? I see the rewards are really small for now, is that gonna change or is it normal? I thought PoW rewards were going to be bigger(some thousand coins for 4-5 Mh rate for example)

good and fair launch   congrats!

+1

Well shareholders will get 9 coin in 80 block so i don't think miners will mine thousands like that, even with mega mhs  :D

guys
PoW coins to be mined: 1.019.520 KiB

8 coins per block, this is normal and payouts will only get smaller

You think shareholders should activate PoC from now or just w8 for later PoW?

well we do need to test and be sure it is working properly so i say let it go 1 round at least for now

Something looks wrong with the POC it is not showing as every 60 blocks in the console and it looks like block 181 was paid out as 472 coins to http://kib.pool.mn

Okay we have a serious issue right now, please leave you miners from the pool http://kib.pool.mn/

The 472 KiB dedicated to the POC are sending to this pool instead of our console.

Leave this pool NOW.

I don't now yet if this fork it's volunteer or not, please go to an other pool immediatly, they have more than 51%.

other pools free to continue mining I guess...

spread hash, suvpool looks ok for me

none of thew pools have enough hash for short term rental , mn pools are always great how is this their fault

i have switch to kib.suvpool.com


but i dont understand  pool.nm is a very good pool

nothing wrong with the pool but the coin may have forked because they have so much hash.
no one is saying they are bad just that right now we need to move hash off there

Yes maybe, but at the moment the POC reward is sending to this pool instead of our POC console.

I suspect a fork.

The POC console can't deliver the reward if not received the 472 block reward. It's very important that the miners move to an other pool.

The random wallet did not come from DEV.

I had windows anti virus, windows firewall, trusteer rapport (protects internet banking) and malwarebytes pro. Also passed totalvirus online.

My advice: Never download any random software not appearing on the front page.

the other pool doesnt found block  :(

Please can someone send a very few amount on this address KAxePZDBeBYoLt8XCceUzG8k3SuNFp7Fua

It's only to test the Allcoin.com wallet.

If he receive it, we will have our first exchange.

Thanks.

i do not think any coins have confirmed yet

before have an exchange, its not the priority,  people who buy share should have Poc no?

first block found here

http://kib.suvpool.com/index.php?page=statistics&action=blocks

please come here to spread the hash

\
hehe , i did when dev told us to do so i have my first tiny kibwee , tanx dev

Yup, if someone can do it when possible ;)

I know an exchange isn't the first prior, but we have 1 pending so why not !

I'm not mining so I have no coins ;)

https://i.imgur.com/dSAlr80.png
http://kib.coin-miners.info/
IS UP! GOGOGO!!
1% Pool fee / PROP payout system

Stratum with vardiff.
Stable SSD Server, DDOS protection.
Cashout are processed every minute.
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STRATUM: stratum+tcp://kib.coin-miners.info
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Configure your Miner:

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need more hashrates

I have been mining since start and have less then 1 coin with 10MHS

KIB Account Balance
Confirmed    0.000000
Unconfirmed    0.792019

Pool.mn is broken i think



My Hashrate
10,326.88 KH/s

Pool Hashrate
6,981.22 MH/s

My Sharerate
0.23 S/s

Pool Workers
342

Net Hashrate
16,978.02 MH/s
Round Information

214

Current Block

456.65%

Of Expected Shares

0.00955362

KIB Est Earnings

168.79418068

Difficulty

237.18024573

Change in 1 Blocks

Est Next Difficulty

42 seconds

Est. Avg. Time per Block

yeah http://kib.suvpool.com got its first block nice

ETA ON THE POC

The 3 first POC reward has been send to http://kib.pool.mn/ instead of our console.
I suspect it was a fork attempt.

Now the pool have less than 51% of the hashrate. I'm waiting for the 4th POC block to see if everything is alright.

At the moment the first POC Roll is decayed because of this, the POC won't start on block 280 as expected.

I'll provide updates as soon as I can.

http://kib.minerpools.com - We just found our second block! Net hashrate seems to be leveling up, this will allow other pools to find blocks regularly.

Keep them hashes coming guys!

mn is a good pool,and other pool are drying.......

I just dont understand how POC works,what does contribution mean?what kind of contribution can I make?

it is funny, you can type but not read

i changed from one to another pool when that was told but now i got two small amounts on two different pools and it is not possibble to withdraw if you have less then 1 , maybe good to change the withdraw ammount to 0.1?

Thank you for reminding me，http://kib.suvpool.com/index.php change  min ap_threshold to 0.1kib

Basicly you're exchanging bitcoins for shares (0.1 = 1000 shares) and for each you participate in you will be rewarded with a certain amount of coin and loose one share. 1000 share allow for 1000 round, at actual difficulty it means 7628 coins. But difficulty grow as more people join, like mining more or less where hashing power = shares. More share = more hashing power, so the more share you have the more coin per round you get.

Use this pool to guys http://kib.coin-miners.info/
0.1 min withdraw

Configure your Miner:

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Ok OK i put my hash down- didnt realize its way too much- come one peeps get some hash on other pools as well- so i can rip it up again :))

POC ETA

We have a serious issue right now.

We suspect that the coin is forked by a pool owning more than 51% of the hashrate.
The result is that the POC reward (472) isn't not coming to our server and going to this pool.

That's why all miners should leave immediately the kib.pool.mn at the moment.

If the POC reward don't come on our servers, it mean we can't distribute it to the Contributors.

The 4 first POC block has been sent to an other address than our.

It mean for the Contributors that the first Roll will be decayed until the coin come back to the right chain.

I'll provide more update as soon as possible and update kibwee.com to let people aware of the issue.

To fix this, again, we need miners leaving the pool for an other.

i think you have to cancel and restart

never the miner will leave the pool, because they are earning more and more coin....

pool.mn has less than 51% now, so everything should be ok.

https://i.imgur.com/XJ8Gfxb.jpg

Unfortunately I agree. I rented to mine this and will lose out but it would seem the only way to rectify this problem. Unless the owner of the pool that got the coins is honest and willing to stop his payouts and work with you to return those coins to POC account.

It is obvious that those payouts of 472 are not meant for the pool.

4 blocks of 472 = 1888 coins that this pool got that they should not have. If owner is not willing to return those coins then I think the only fair thing to everyone else is to cancel the launch.

I know admin wants some miners to leave kib.pool.mn due to having too much hashing power.

I think there is something wrong with the pool, my miners are still showing hashes but I my valid shares are not incrimenting, anyone else having same issue?

ok but are your shares incrementing?

This thing is the hashrate was more than +51% during the POC blocks, allowing the fork by discovering the block + having the best chain.
I have no answer from the pool operators.

We are taking a decision at the moment.
If we need to restart the coin, we will do it so.

Nvm, seems to be incrementing now

If you plan to relaunch coin, do you plan to compensate renters who paid for rigs to mine?

and here is the truth: you may mine at pool.mn and leave all the coins to yoursefl (infcuding coins from POC blocks, whic are huge - 472 coins per POC block compared to 8 coins per regular block). Or you can go to another pool that donate POC blocks to the dev who will then sell these coins to you for bitcoins

pool.mn is not on a fork, dev is spreading fud coz he's losing his coins right now

although I agree that dev should have some reward for his work but in this case dev wants to take 50% of all Kibweecoins which is kinda huge

I'm not losing my coins, the contributors coins are forked, not mines.
0 coins are coming to me.
I may even have to restart the coin because of this fork. What the point so ?

yes they are, the pool works good now, everything is ok.

Lets hope they give those block rewards over to the POC console.
To be honest they really should, if not it seems the coin will relaunch and their already earnd coins will be destroyed.

If you are restarting this coin i`m out of this, i`ll never start mining it again. And i suppose lots of other guys will do the same here!!!

As a renter who will lose out on a restart I suggest you restart! No way should that pool benefit from 1888 coins+ if this continues.

^^ this

LOL dude people already paid BTC for those poc shares, so we need those poc blocks otherwise its us share buyers getting nothing not the dev.
He got the btc for the shares already.

yeah, yeah, contibutors coins, premine, all the same stuff. No dev would confess that he's secretly wishing to dump coins that he control (through premine or POC as you call it) when there is a good opportunity.

pool.mn is on the same fork as other pool, compare block heights, every pool is on the same block

You may now relaunch the coin as this is clearly not what you have expected

so you are  out

because its a new algo and the POC failed and have to be good , if its not good it's not a new algorythm coin but just an X11 coin

this coin is good because its a new way to think


so restart should be fair

There is/was some kind of ipo which is the new distribution system, POS , you buy shares for BTC and you get paid KIB (if it is not taken buy some pool lol )

Seems to me this is a coding issue. With a relaunch whats to stop the same thing from happening again? There are frequently pools that exceed 50% of the hash rate on coins (IE DedicatedPool) and they don't cause forks/problems.

no more agree

it`s a new algo??? maybe it`s new for you brother. You are a supporter of the dev for sure, and now you don`t like what happend with this coin. The dev should be carefull of what code he wrote, there is no other problem!!!

yeah i agree it looks like a code problem, network seems to be running fine otherwise atm
Devs gunna have to relaunch at a later date, this should have been found on testnet

Technically the POC block should be send to the address of our console.

At the moment they aren't and sent on the pool address. The only way to do it is to chage the source + having +51% of the hashrate and be the best chain.

It's not a bug, it's an attack.

Testnet and non testnet are doing well.

hmm- another failed launch coz dev messed it up- i wasted some btc for poc and some hashing for mining i guess.

got already 100 kib- waste it is then :((

so ,what's the plan,relanch?

a relaunch would be a mistake, and i would be one of the people that would be out...

it would be one thing if one pool jumped in early, or somehow maliciously attacked the network, but none of these things happened...

having one pool control more then half of the hashrate at a launch of a new coin is not unusual by any means, and happens all the time... most coins seem to get through this fact without an issue...

plus, there was no fork... all pools are on the same block... there was a mistake in coding that allowed one of the pools to mistakenly claim the POC reward... the pool didn't do this on purpose...

Proove your saying, we want facts, not just words! It`s not about any attack at all, why would anyone attack a coin like this??

yes new algo

i dont support dev i support innovation

It's like a 51 attact

lol its your greed that is attacking your brain! :D

there is no fork, every pool mines the same block

X11 was created back in january, as i remember, by the developers of darkcoin, mainly Evan Duffield. I repeat it to, maybe it`s new for you! Good luck!

I totally agree!

it's not an attack mn pools are honest it's dev mistake which tells you what he really wants. he's in it for only making money

Lets say what you claim is correct. Do you think the pool operator should be responsible for stopping his payouts and working with the dev to return those blocks for what they were intended? It clearly says in the ANN what is suppose to happen. Regardless of why it is not happening correctly the pool operator is able to help out the dev by stopping payouts and helping return those blocks.

If the cashier gives you back too much change do you just keep it or say something? I guess this is a moral issue.....

this is different...

when a cashier give me too much change it is a moral issue, and it is up to me and my conscience whether or not i want to keep the extra money...

a relaunch would be like a cashier giving me back extra change, then taking all my money and whatever i paid for with that money, and blaming me for their mistake in the process...

Use this pool to guys http://kib.coin-miners.info/
0.1 min withdraw

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I guess the fair solution would be to mine at pool.mn and donate to dev so he keeps supporting Kibweecoin. It is not going to be 50% of all coins as dev has hoped but it will be something

relaunch is only necessary because the pool operator is not responding to the dev about the situation.

My cashier example was not perfect because we have more then 2 parties. Again it really doesn't matter why it went wrong the pool operator could help the dev and avoid a relaunch but it would seem that is not happening. For the record I am losing out on .17btc of rentals myself. I also have no affiliation with this coin or dev other then renting to mine it and noticing that the 472 blocks were not going to POC but instead to the pool.

no relaunch or this coin will end up on the scrap heap like most of the others.

that wont work, some of us already paid BTC for the coins

Im so glad that all those little miners are affraid of losing their already mined 10-20 coin?

And you guys really seem not to get it, the dev got BTC for the shares, wheter those poc blocks are returned or not he will still have the same amount of BTC

Its the share buyers who are left out with 0 reward for the BTC payment.

I should have gotten more than 20 KIB from the first POC block, which i didn't, and that is probably more of a loss than most miners would mine out in days...

Maybe you guys should add this to your calculation when u are shouting no at a relaunch / fix.

I know that everyone is selfish and doesnt give a fxxx about others but really you only lost some hours of mining power.

(im also a miner aswell with 40MHs on a multipool and i know that you earn really a little in some hours...)

nice name  ;D ;D
I want it

Actually this mess is fuding the thread... To the moonnnnn !  ;D

Oh wait, I still have no coin as POC failed, damn ..  :'(

so i rent some rigs , i buyed some shares .

what to do now? , is there a relaunch and do i better quit mining this or what ....?

and the shares..?

it is a little cunfused now

yea can we have a decision pls?

Dev is offline i dunno what to say, i moved my rigs back to trademybit.
I can see us all getting collectively screwed here by the KibweeCON

merc just added sfr to the multi, so at least there is a solid coin to mine for a bit :)

Holy cow, listen to you people. You would think that you have all lost out on a pile of gold. Even if the dev was out to scam, wouldn't he be doing all of his nefarious scamming for more than the first 15 minutes? I mean c'mon.

And besides the investors, of which there sure can't be that many, what has been lost?

No one is going to feel bad for you miners because a little of your time has been wasted. Don't like the coin? Then move on to another. How many coins could you possibly have mined in such a short period of time?

This is something new. Let the developer work on it. All of this whining as if you deserve something is just stupid.

Plenty of other x11 scams that launched switch your rentals to BossCoin or Lightcoin or WatCoin (all launched today lol) pick one of the winners or mine them all for a while hope at least one will work out and make your rental money back. this one is worse than ones i named above and they are shit lol

i mined just under 20 coins on under 50 mh... 50 mh is nothing nowadays, and there were at least a dozen people in pool.mn who were pushing waaay more then that... some as much as 2+gh...

i am sure those people are not going to be "thrilled" about losing all those coins, as well as all that btc they used on renting rigs etc...

this isn't just time, which is not exactly inconsequential, there is real money involved here...

NEW ETA

Okay let's resume the issue because the thread is a bit messy atm.

The source contain a code to send the POC block reward on the following address: KLMD1gKGK44AGaRq5W8StG4LnhGDLjCfQh

The problem is that coin are actually sending to an other address. Which is not the good one.

It mean the POC is stuck and the miners from this pool are receiving the POC block.

We think it's a malicious attempt as the pool operators aren't responding and as the coins succeed in all our tests.
The pool involved in this has still more than 51% of the hashrate. It's not really a fork because the blocks are indeed the same: it's not about the blocks but about the transactions. This is making this attack not visible directly on the network, because you can't watch a block fork.

If anyone of you is a dev you can find the part of the code on main.cpp line 4443 and 4659.

My advice is to stop mining at the moment, because we failed to get less than 51% on the concerned pool.

We are looking into a solution. Me and my co are actually discussing about this. I also had a long chat on IRC with the peoples there.

We need to restart the coin, but also need time to rework our system to avoid this kind of attack happening twice.

We will make a system to refund the Contributors if they want to get back the BTC.

More details are coming as soon as possible. I'm going to update the OP, I'll keep answering your questions too.

Please don't do useless troll, we will work on a solution.

we are not wining but if there is talked about a relaunch and rigs are rented it is good to know what is going on , for the rest i like the concept and the coin and we are willing to give dev time to repair his issues

ok thanks for the info now we can plan ahead ...

Thanks for a good explanation of what is going on. Hope you get this exploit resolved and relaunch soon.

MN pools are most trusted pools this is your mistake in code most likely , even pool owners watch world cup so give it time they will respond(you saying it's attack it's crap) i'm not affiliated with MN pools but use them all the time asnd they don't do that

Switch your rigs people looks like a relaunch is in the works , mine one of shitcoins that launched today and never forget "only put in what you can afford to lose, don't get greedy on launches"

this.


People come in here, claiming scam and shit like that. People lost mining time, btc on rentals, ALL this is understandable. But if you havent calculated that in THIS SCENE you sometimes lose time/btc then it is not for you.

Dev has even given his name out in the open and he was in IRC, this WHOLE time and explaining the issue. Ive seen obvious scammers get treated with more respect ffs.

Frustration is justified, personal attacks are not. Mine something else, dump it to make up for ur costs, and come back for more news later. Geez.