Bitcoin Forum

Source code on GitHub: https://github.com/GridBit
Windows wallet: https://mega.co.nz/#!N49DUaIC!jiAGtZjjQr35sygEgahXwS822tLDN-aja1T_EXTANNE
Password: lerthk32j42h34kj345g2l3k2341gl1234
Beta client release date: 08.26.2014 (preliminary)

https://i.imgur.com/et6STr1.png

GridBit is a next generation cloud storage that is not based on expensive servers hosted by giants like Amazon or Google but rather a service that everyone can provide to everyone and earn from it. Imagine if there was just one million users with 100 GB spare drive space? The storage of the cloud will therefore be close to 100 petabytes, that will have 0 downtime, data loss protection and access speed limited only by your connection speed. Besides that since all your data will be effectively scattered between hundreds and thousands users you will never have to worry that anyone but you can access it. All your data is perfectly safe and accessible.

What about crypto currency and how it is connected to the cloud?

Easy. Your wallet will have "cloud" tab, where you can siply share part of your hard disc to the cloud network and built-in p2p client that will have proprietary access to the internal p2p network where you willbe able to store your data. The currency will be used to pay for the cloud service. Anybody with our wallet will be either share their spare hard disk drive space and receive payment for it, or buy themself cloud storage from other users. Or both.

https://i.imgur.com/1SMPSiL.png

We understand that there will be date safety concerns in case someone will at somepoint stop sharing their space and delete your date, but have no fear. Everything that is collected by cloud will be backed up in the mandatory share. Every wallet user will be required to dedicate at least 1 GB of their hard drive to ensure cloud stability. The information, stored in cloud will be not only distributed by multiple seeds, but also duplicated and preserved in those mandatory cells. Every user with the wallet will receive generated POS payments to cover their expenses of 1 GB, mo matter even if you have no actual Grid ballance.

https://i.imgur.com/Iz26DU2.png

In order to start sharing space on your hard disk drive - you must simply dedicate a directory on your PC, where share file will be created. The size of the share file will be equal to the place you are willing to share. As soon as you start sharing your hard disk drive space you will be eligable to receive payment from those who is willing to pay for cloud storage. In payment options you may setup fixed price for the storage on your hard disk, or allow Grid to automatically setup adequate price for your storage. Every time part of your hard drive will be assigned to othre user you will receive payment from that user. All payments will be made monethly. To better understand how much your disk space earns you - daily/monthly/statistics will be implemented.

Data preservation and monthly increments.
Every user of Grid may expect to accumulate profits from the service simply by sharing unused hard drive space. Also every user of the Grid storage expecting service to be stable and their data to be safe within the cloud. So how do we both ensure every contributor may expect frofits and users who pays for service get reliable online storage? By building the trust of course. Every wallet within the system can earn trust points. Less trusted contributes storage will be more often backed up within mandatory 1GB storage blocks. More trusted users may expect to receive more profits for thair HDD storage. How to earn trust? Easy - you just do not delete your storage and stay online. Every now an then other users, who is buying their storage will access date, stored on your HDD. If they will be unable to use your HDD as a seed, your wallet is marked by 0 trust. Every time user successfully receive data from your greed station you earn 1 trust. If within 15 days your wallet will not earn at least 1 trust you will be opted to force sync to test integrity of your storage file contents. If it passes that you earn 1 trust point and continue working. If, however your storage integrity will fail your wallet will not be able to participate in storage sharing. Staying offline for too long will freeze your trust rating. Every several month of positive trust will be rewarded by incriminating your trust coefficient making you eligable to offer your storage to those willing to pay for extra safety.

https://i.imgur.com/XFLuMf7.png

https://i.imgur.com/fe0OLAj.png

Algorithm: X13
Ticker: GRID
Coin Name: GridBit
POW block reward: 500 GRID
First 100 blocks reward reduced to 1
Total POW coins: 2,500,000 GRID
Proof of Stake Reward:  1%
Block Time:  100 seconds
Coin Maturity: 30 blocks
Transaction confirmations: 5
Min Coin Age: 2 hours
Premine: 0.2 % (5000 GRID)

Chinese translation: https://bitcointalk.org/index.php?topic=742491.new#new


https://i.imgur.com/nS65a8R.png

http://icblocks.com/chain/GridBit


https://i.imgur.com/E0bw8nk.png

http://grid.hashhot.com
http://grid.coin-miners.info/
http://grid.best-pool.com
https://grid.suprnova.cc
http://grid.nonce-pool.com
http://grid.minerpools.com/
http://thepool.pw/grid
http://xhash.net
http://www.hashharder.com/x13/gridbit





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

Coming soon!


https://i.imgur.com/OqwY8KI.png

Coming soon!


https://i.imgur.com/4qB96O5.png

Blockexplorer = 200 GRID
Faucet = 100 GRID
Translation = 30 GRID each (just PM me your translations along with your wallet address to receive a bounty)
Mac Wallet = 200 GRID
Game = 100 GRID each
Paper Wallet = 100 GRID

Really interesting concept of decentralized cloud storage. I'm sure to be mining this GRID of yours  :)

GridBit is now on altcoincalendar
https://www.altcoincalendar.info/coins/810-GRID

any pools joining yet?

Is this open source?
How can I be sure that what ever soft ware your using for this will not penetrate my main hard drive and grab my wallet.dat files from other wallets. 

Just encrypt your wallets :)

I am worried about this,too.

as the previous person said you should encrypt your wallet.dat for every coin you've got on your PC. If you do so you will never fear that somebody would steal your coins. Just make sure your password is hard enough to not get bruteforced.

To altcoincalendar add the link of this bitcointalk topic  ;D

I did
Countdown gif is linked to altcoincalendar

How is this different from what Storj, Maidsafe and Ethereum are doing?

X，can't miss this.

wow,if you said is true,you may kill storj ;D

storj is just crap compared to this one!

DEV - Please add the pool (http://grid.best-pool.com/)
I send you a PM early today.

i will rent some rigs  ;D ;D

added all the pools that sent me a PM today

Thank you for supporting GridBit!

It is different in that GridBit expects users to store their files in the cloud without any explanation how the security of their cloud is managed. Without any details about how the storage is done, like if the stores will have only chunks or if they will have whole files (encrypted, unencrypted) on their harddrives that they can maybe read themselves. No whitepaper, no video showing how it is done, no preparation.
I think once the source code is out we have to watch very carefully for a hidden premine, because this could be GreedBit instead of GridBit.

Looks intresting , i will keep watching :)
if stuff works out like your saying this coin is gonna be awesome. :-X

Your files will be stored between other users. Do you familiar how torrent p2p network works? It will be similar. Except number of "seeds" will be limited. Basically as soon as you share your hardware your wallet will start downloading information from other users (those who willing to buy cloud storage). Files will be encrypted with your private key and also split. Basically if your file size is 10 MB it will be separated between 20-30 other users, each of them will hold ~1mb. Ofc this will effectively use 20-30 mb of real HDD space, but this is required to guarantee your file safety. Your file will be inaccessible by any single user (only encrypted chunks will be stored at users workstations) - neither them will be able to track the owner.

Whitepaper will be released shortly - we do not really want to share all the details but general information will be available soon.

ok, this sounds a lot better to me.  Really needed this information but still sceptic. I really want to be positive about your initiative, but with all the scamcoins around this time one cannot be too careful.  :-\

Sorry about that. I will gladly provide more details - its just too big to fit into single comment on forums. I`ll hang around and provide more details on the project if you want.

sounds too good to be true, but let's see and give a chance

Thanks

Is there any IPO or presale?

I dunno if reasoning works with ppl like you (probably not) but i will still try simple logic. At first i will ask for a link of the source I copyed this from. When you will fail to provide, or when you will provide something slightly similar I will ask again - was this already implemented or it is just an idea? And when you will fail to provide any sensible answer I will ask third question - whats wrong with being inspired by other idea, if we can deliver better result? I mean seriously - this is childish FUD you posting out here.

It's only 5-6 days of minning. So probably rentals gonna rape your coin.

rentals would rape any coin that allow mining. This is why I'm always up for ICO instead of mining

Not always if you set POW on 2-3 months they won't rent for so long

they will rent for whatever time they want if its profitable

cool! Like your pools

As if ICO's don't rape a coin through people with BTC to burn.

I will buy some coins when
 it is on an exchange!

Rentals rent for instamining and dump as soon as coin gets listed.

A newbie account for dev looks suspicious. Don't you think so?

Do you have any suggestion to solve rental instamining?
Minerals used limited hashrate per user and used specific pools to make it harder for big renting accounts. Do you think it's a good idea?

Rental instamining can be prevented just like the Minerals did , but tough times for altcoins and even tougher for a new coin's success.

no more suspicious then 99% of other devs who register a new account.

What about the rest of the data on your hard drive?

I don't understand why anyone would bother with this to store files when you can get cloud storage for free.  And who exactly is going to buy this cloud storage?  What are your plans to market this product?  You made a spreadsheet showing you projected monthly profits but you don't even have a website.  Where are people going to go to purchase this cloud storage that can be gotten completely free from a variety of providers?  It's obvious that you have not put anything other than this ANN into this.  You've already gotten five pools lined up.  I bet you get on an exchange before you have a real website.

Another waste of time.  

"Every now an then other users, who is buying their storage will access date, stored on your HDD."

Will those date be pitted?

Off course good idea.But two scammers revocoin and limicoin dev use this method for scam.

Certainly 99% is not correct. But, can you tell me how much percent of them are scams and how many of devs with original usernames are committed ones?

I'm not aware of them. Can you tell me a little about them?

Hi dev,

Are you going to do the PoD before launch?

Eth.

Looks like there is no foolproof way to prevent these scams . Such coins should not be even traded at first place but greed.

We'll set a pool, please add us to the list :)

Concerns:

NOT OPEN SOURCE!
No description of encryption
No description of maintaining file integrity
No description of defense against sybil attacks
Not open source
not open source
and oh yea not open source

Why is my concern about it not being open source. 

1. Code could be stolen
2. Code could be malicious
3. code may not do anything but steal your data
4. code is probably stolen
5. code probably doesn't do anything you need it to.

Also the dev is not talking to offer any information...

Will you be doing POD may be just after launch?

Please, clarify to the community.

Please provide proof that this isn't a scam...

Everyone, before jumping on the bandwagon, demand PoD or chances are one more scam

Yes, I will definitely do POD some time after launch.

is this closed source project?

I don't know the percentage, but I would say a majority of coins have dev accounts specifically created for them, whether they are legitimate or not. Most of these devs have separate regular accounts as well, they create specific dev accounts either for convenience or to protect their identity in case something goes wrong or to cover up a scam.

Please delay your launch and provide proof this isn't a scam first.
Thanks!

daym! Canary's neg trust hits hard! :P

I will not delay the launch since people might have already ordered rigs. But I will certainly provide proofs. As you will soon see we are serous about this project. By we I mean GridCoin Dev Team which consists me and my partner - one of the best c++ engineers I have ever seen (and I've seen many of em since I work for Zynga)

It's the weekend. None of these rigs full of hard drives have shipped.  I don't think this is a good excuse.

so this is how i see it from the dev.

I will not delay because i announced it 12 hours ago and people may have put money into it.

I will prove its not a scam at some later date

I will not give my name or my co founders names...

I will not provide source code

I will not explain anything to any of the questions.

Passworded wallet is now available for download
https://mega.co.nz/#!kttEnZYK!AwXoTTEuU7G7Ri6Ug1Je-UYvHzXl9OhU9QS3aTku9Xk (https://mega.co.nz/#!kttEnZYK!AwXoTTEuU7G7Ri6Ug1Je-UYvHzXl9OhU9QS3aTku9Xk)
Password will be available at launch time


yes, I don't want people to lose money for renting rigs for nothing

I will prove its not a scam.

I will give my name and my partners name as we do POD

I will provide the source code in less then 20 minutes

I am willing to answer any questions. Please ask


regarding the trust hit - it was a bit childish for CanaryInTheMine to do such a thing. I guess he things its fair to accuse an innocent man being a scammer beforehand. LOL  ;D

No thanks.  20 minutes is plenty of time for your software, iff it's malicious, to steal peoples lives.

It actually can't steel nothing if you encrypt other wallets ...

I have no problems removing the no trust comment and replacing with positive if you provide proof.
You want access to people's hard drives without proving you won't be stealing anything from them.

Very risky.

Wat? Steal peoples lives? Erm.. ok
It is pretty strange that bitcointalk admins allow people like you to easily dump on anyones trust without any reason. Well I guess 10 BTC was worth it



I don't get it. what do you want me to do? You want me to give you passwrord to the passworded rar so you could scan it for viruces?

This shouldn't provide ANY comfort.  Once you have a file that contains private keys, brute forcing will crack some of the wallets.  Enough of them to make it a viable exercise.
Also, some unsuspecting folks have more than wallets on the drives.  Financial info, bank accounts.  Passwords to other systems/sites etc...

This is up to dev.  You either have an awesome coin or this screams CAUTION!!!
If this is legit, please prove it.

Everything should scream "caution" to people in crypto...

Yes I agree with this

Well... looks like the wallet is clean... 0/54

https://www.virustotal.com/en/file/689eadbd2f95f2d621e2069eff118bbcf2f2d7c3c2203b14091d59c01f6a15a6/analysis/

so far...

You scanning password protected file?

 ;D ;D ;D

why does it need to be in a passworded rar? post all of your code up on Github and let people look at it and improve it or fork it....

We are compiling up the wallet and will be available shortly. We are not yet listed in OP but Op has been contacted.

lol

where is the source ???

Yeah, I know.... I was being facetious...  ;)

Aaaand the password for the wallet iiisssss?????????

Source code on GitHub: https://github.com/GridBit
Windows wallet: https://mega.co.nz/#!N49DUaIC!jiAGtZjjQr35sygEgahXwS822tLDN-aja1T_EXTANNE
Password: lerthk32j42h34kj345g2l3k2341gl1234

 seeing no wallet password or source anywhere


edit: nvm

I've set 4 pools for not missing the start , and none of them isn't up...

still 30 blocks at 0

best-pool.com is UP!

Keep us in mind next time :)

suprnova is up

coinminers up

this  :D

Yes. ill do , but you werent at the op :)

So meenwhile I dont see any menu with storage space sharing in the wallet ???

this feature is still being tested. I will soon announce alpha test that will require an invite to participate

smooth launch

wait so what this really is...is a scypt coin...with none of the functions that you described...We cannot sell space...or buy space on a grid yet?

lol , the diff got high..

scam coin
total coin 100m
https://www.dropbox.com/s/6kggga78eusj4rc/Screenshot%202014-08-17%2003.22.24.png

So the cloud function isn't even implemented into the wallet? What's the point of launching when your product isn't even finished yet... Oh. PnD

You don`t want to see what bugs we have in alpha testnet atm ;)  Or if you really want - I can add you to the invite list. Will start sending the invites in 2-3 days.

max_money isn't the same as max coin supply or am i wrong?

Working fine as well.

Do I dare ask how a new account already has -6 trust???
And then launches a coin

because of that: https://bitcointalk.org/index.php?topic=740955.msg8386497#msg8386497

Network stuck on block 91.....  ::)

Is this coin broken already?

It's been 8 minutes since last block and there is a lot of hash on it.

I'm not so sure thats factual in the sense that storj has working applications...This is a script coin....with no working concepts of what they want to do.

its now 93 block. what are you talking about??

It was stuck for 10 minutes because difficulty adjustment is weird, but it looks like it might be back on track.

Est. Avg. Time per Round (Network)	 35 minutes 27 seconds

Easily. Someone thinks that awarding negative trust is a great support to any argument. Check 2-3 pages back to see how it`s done lol ;)

bump

GridBit,

Here is the block explorer: http://icblocks.com/chain/GridBit (http://icblocks.com/chain/GridBit)

 :D

lol ok, I guess I was right in my opinion: Greedcoin and not GridCoin.
Otherwise you would have provided more information before launch. You would have made a whitepaper, a website and would have provided much more insight on what this new feature of yours is, and most of all, you would have been honest and you would have told the feature is not in the initial code. You know, this time it is all about the first impression, people don't buy promises anymore. And this first impression is very, very bad.

I guess it was discussed a 100 times before. Max_money is the total amount of money during POW+POS. This means it is achievable in 10 years or so. The only amount that matters is the amount of coins generated during POW. Dev did clearly state that this amount will be 2500000 coins

Because dev wanted to access your hard drive without any proof of this not being a scam.

Thanks!  Removing my note on not trusting. 
Hopefully released source code is helpful to the community.

Source code so that those in this community who want to check can.

-for convenience? Can you tell me what that convenience is?
-to protect their identity in case something goes wrong? If they don't have trust to their own coin, why would they expect others to trust them?
-to cover up a scam? That's why I'm insisting to use their original usernames.

So, plz tell me that : What "Max_money" that mean?
Thanks!

I think many of us would like to see these test bugs...as if it is true you have done something that many projects that have been in devleopment for a long time are working on finish...and you came out of nowhere....

I'm happy someone's trying to put pressure on devs to be transparent. I like to see your suggestions on this thread:
https://bitcointalk.org/index.php?topic=726610

Ocminer is there any problem with your pool?

This project isn't anywhere near Storj and we have no idea who these people are.

What you say on that dev?

Supernova pool being a pain in the fcking ass. For me at least, hasn't loaded in a while.

I say I would be pretty stupid to do that since there is no way to ensure I (or anybody else in particular) will mine this "hidden" block.

Its called "change" from the 5000 input address. He sent me 200 GRID for block explorer bounty and got back 4799 GRID as change. This is normal.

Ahm... what you see in block 98 is me sending 200 coins for block explorer to the guy who uploaded it. You see 5001 coins there since if you have any Idea how coins works you always sending all your coins to the recipient and get change back from him. Thats why you see in transaction 5001 (5000 - my exchange with BE dev and 1 mined). I`m sure anyone here with decent understanding can vouch for my words.

mmm guess you could be right, my mistake. I am not used to this kind of transactions in the first 100 blocks and guess I need some sleep.
Problem is, DEVs really need to be more clear about everything, people are getting paranoia with them for a reason... Answer of the Dev on my accusation also was not very clear.
I will delete my scamclaim.

Seems like this would be pretty easy to execute a Sybil attack:

Can you please provide valid attack scenario, so I can update this algo?

Stats @ Suprnova Frontend currently has an issue and takes a bit longer to load, fixing it as we speak, as long as you dont hammer the pool stats, you're fine, sorry for the inconvenience

I can give you early accesses the Storj whitepaper that describes 5 attack vectors. Which algo are you referring to? I don't see any documentation on this at all.

thanks for the trade

anyone else interested in grid coins? (currently mining)

Wallet looks nice and network strength is good :)

Can you release the source code for the Grid Storage piece of the software?

So far based on GitHub I just see source for a new X13 Coin.

Am I missing something?

Thanks

He doesnt have that....it does not exist..

I highly encourage the dev to release source for this part and NOT release any binaries or updates that expose this functionality before source code is opened.

Thanks for the confirm. Please open source or demo that piece via video, or show in the code of your coin how that will interface with a grid-storage.

Are the tokens like 1-1 exchangeable for space, and how will I actually upload content to the grid, is their a gui, not just for PoS drive mining. I've followed storj, they have developed GUI etc, I think there needs to be more work done here.

Best of luck

Yeah "encourage"

We need to get modes' attention, and if they don't take any action we can create another forum which have devs who care about altcoins. You are right about the virus situation. I added that to the Problems List here:
https://bitcointalk.org/index.php?topic=726610

suprnova why is your homepage so slow with loading when for example i click pool stats, takes minutes to load

There is a Problem with stats on this Server, everything else is fine. I have got it on my list already and will fix it soon.

I am mining this coin since launch but I am not going to install the wallet before the code is checked.

checked it at virustotal.com - looks good to me

wallet with password protect, and also some secret hashrate mining this coin, so fishy !

the hashrate isnt all that high so just dont risk much :)

P.S. XCloudCoin was also very fishy and stll it took up to a 5x price increase

here you dont have an IPO or ICO, so you only invest some miningpower which looks less fishy to me than ICOs/IPOs

Selling Grid Coins at 15k satoshi each - pm me if interested

yeah, better wait, safety first

where i can turn off that "ding" sound, drive me crazy !!!

Looks bit fishy...

This is just a sketch, not implemented so far.

I will post actual screenshots later

Post source code, not screen shots.

use sandbox, or VM, or a shitcoin rig without nothing

Seem good coin, waiting for exchange

i also like it - indeed what we need now is beeing added to an exchange

I really like your commanding tone. Source will be posted same time with the public release. Both binaries and source will be posted simultaneously that`s how it will be.
Now fly, fly batman there are plenty of other who suffering and in need of savior.  

Post source code boy wonder.

CanaryMan to the rescue!  ;D

http://www.trbimg.com/img-51717c49/turbine/mc-william-allens-canary-mascot-gets-a-new-loo-008/500/284x500

Dev your dismissive tone that the concerns of people that you have not defended against things such as: Large network attacks (google or amazon) Sybil Attacks, Bad nodes etc....

Just dismisiing and saying you'll show us what you have when you want is not going to help this grow....

Love CanaryMan !

Is this idea behind this the same idea as that was posted last week with hard drive space being considered "hash power" almost?

No I`m not dismissing I`m telling that all this fuss is about nothing. Source will be published along with the binary. Those who want to participate in the alpha test will have to trust alpha binaries (no way I`m sharing my source at this point). I urge and encourage everyone - please if you want to feel safe and want to participate in alpha testing - protect your life, encrypt your stuff and lock your doors. FFS i don`t want to be rude but you know this is really over the top. I told like 20 times that source will be posted when its done. With full commit history if you like. If ppl that afraid of this idea - i can submit source to the trusted escrow 10 hours before posting. (not going to pay esc services though). I`m keep telling ppl "yes yes I will do as you ask" and some ahm... characters, keep telling me not to post screenshots but to post source code.

I'm curious about your diagram, where it says 1 GB = 1 Cent. What exactly does this mean?

No this project is claiming to pay for actually storing data...not just using your empty space as hashpower like burst....

This seems to be making claims like Storjproject  however Storjproject is open source with a working prototype and all code is available for anyone to see the progress..


This project released an X13 coin.....claims to have working decentralized cloud storage....but all we have so far is an X13 coin...

It uses a formula. 1 Cent is a presumed value used for this diagram only. Price will vary and it will be recalculated automatically.

@CryptoAsian here.  Let me know how I can be of service as I am an established trustworthy figure in the Crypto Community.

Who will pay for this storage, do you have any deals in place?

hope its added to exchange soon

selling 4k , pm me

How long is left for mining?

suprnova website not work ....

Exchange?????????????????????????????????????????????????????????????????????????????



 >:( >:( >:( >:( >:( >:(

Hey Dev ! It's time now. Please, do PoD

dev gone, kidnapped by alien,  ;D

Maybe he's still working on it...

I think I'll stick with storj

Mac Wallet

http://www.mediafire.com/download/em9y8i5lxyyz3pk/gridbit-qt.zip

GRID: GeF8yWZfwWcNoUapY692gsg6Tf7wgsJynK

May be he find very difficult to scam people here.

Too many unanswer question.

I think the net hash reflects that.

If the DEV did get his ID verified then the community would take him a lot more seriously.

We understand the need to keep you ID secret, but these 3rd party ID verification services solve the problem, while giving people a peace of mind and adding value to the coin.

Just have a think about that one Mr DEV.

I have already taken assurance from him to do PoD.

I will not mine or invest any coin where dev is not willing to do PoD after-all the interest of hundreds or thousands of miners and investors are more important than safeguarding interest of a scammer developer.

Glad the DEV is on the case.

Exchanger??????????????? ??? ??? ???

WTS 4498 GRID pm me

I guess it's all over.
Nice idea, but shitty dev.
I hope some1 will takeover this idea and make some reliable project

I`ll submit application for PoD within 24 hours. Sorry for delay, using mobile internet atm.

What are you doing! Stay hidden a few more hours. Dig so good when there are no people  ;D
                                                                                                            (it's just a joke)
                               

Ok thanks and wish you good luck for this project.

Mining it now and looking forward to the promised feature soon.

Looking good

hmmm! I am out !
Good luck,dev.

LOL

People comparing this with Storj... You make me laugh. Good luck with your pump&dump coin, now that ANON trend is finish, STORAGE/SERVICES trend will be the next one.

wtb 100-5000 grid. PM me with offer.

i'm selling 4k gridbit, PM'd

Yeah np!

Selling GRID - Pm me with your price and amount (and conditions for trade if required)

Status:
Pending deal: 5000 GRID at price of 7500 satoshi
Remaining for sale: 8778

i feel stupid for not getting this but why on earth do people collect a coin for 5 days .. and then decide to sell it as fast as possible.

at least ATTEMPT to support the coin for a full month it will improve everyone earning , every new coin has a chance to be a scam coin however with this attitude we are ruining good coins and hurting our chances of good revenue in the process.

miners are the plague. They don't care about anything but paying their electricity bills and returning investments made to buy the hardware. Coin developers should get rid of POW completely and distribute coins through ICO or some kind of cool giveaways.

The dev is due to do PoD, watch the hash rate go crazy when he does :)

way over price

yes, how dare they want to pay their massive electricity bills and get a ROI on their expensive hardware! damn selfish miners!

If that's the case the the DEV's get the seigniorage, not the miners.

err maybe you should trade or invest in fiat uh

why would you want to feed miners who do nothing for the coin? dev is the one who's developing the coin and if we feed the dev thers at least a chance tha coin will some day become useful.

If you do give the seigniorage to the dev's then I grantee we'll all get scammed a lot more.

Weather you like the mining process or not the miners make the network.

How do you want to feed the developers?

If you follow his logic, the i'd bet he's happy letting these banking families like the Rothschilds or Roccafella's print our 'PRIVATE' money out of fresh air too. ;D

we don't need miners since all new coin now has POS

miners do not care about they coin they mine, they care only to dump it as soon as the coin gets listed on an exchange

my logic is simple - instead of giving money to miners (who will spend it to pay electricity bills and do nothing good for the coin) rather invest money to the ICO and fund the development process. Any development must be funded. There is no way any good C++ engineer will work for free. How do you think its going to work? Do you people hope that some awesome developer will have nothing better to do then work for free in order to make you bastards rich?

Just rent some hash like the rest of us.

Now you are showing your true color. Please, go launch ICO coins, who has stopped you?

+1

Damn it, the net hash has gone up :'( >:(

I am not a developer, but I do invest in ICO.

Could somebody explain how do miners help POS coins now? How does buying hash on nicehash helps the coin? Wouldn't it be logical to give the money to the dev instead and fund coin development?

You cry when dev runs off with the money, but why don't you cry when you pay for nicehash since the result is excactly the same as if dev would run off with the coins? Money that you pay for the nicehash are gone to pay electricity bills. How can it possibly help the coin?

your on the wrong thread

Welcome, it's nice to see a Chinese exchange add us :)

yeah send your coins into a black hole

The more miners that mine, the more the net hash and the value goes up accordingly.

Giving all the coins to the DEV's is asking to be scammed.

There's 2 ICO's over on bittrex, since you like them so much, why don't you go and buy some.

Looking more closely I see that they are new exchange, so I'd have to say watch your step people, I got ripped off by a new exchange a few moths back, they robbed me of 1.5 BTC (coinopend.com).

We are in the business of mining or investing.I also invest in IPO/ICO. In business you can have either profit or loss. But when you loose everything due to a scam it's not a normal business loss but it's due to con or criminal activity.

As far as strengthening the network of a coin as a miner is concerned i am not a technical geek but as per my knowledge more hash means fast block chain movement and fast transactions. This is the reason POS coins have very slow transaction time and speed. (Please,correct me if i am wrong)

You are mistaken. PoS coins are as fast as PoW coins. This is why there is no need in miners for PoS coins. Most coins now have a short PoW phase just to initially distribute coins. Then miners are supposed to hold these coins and help them grow, support them. Instead they just dump em as soon as the coin is added to the exchange where investors like me will buy em. But I see absolutely no reason to pay miners, I would rather give my money to the developer and have a hope that he'll actually do something worthy of the coin. If I have to pay miners I have no hope what so ever since miners do not care about the coins they mine

If you dislike PoW so much why are you here in this thread bitching?

Go here and rent some hash: www.miningrigrentals.com

Maybe then you can sell the coins that you mine, instead of bitching.

Selling GRID coins! pm me with offer and how many you want
or join #grid on freenode and we arrange things there

Developement is ongoing. We are going to start sending invites next week.

Invites for beta testing the client?

Also,please mention it in the ann.

Agreed, update the ANN.

Hello guys

i'm attempting to install the wallet on a ubuntu server 14.04
i installed the pre req

Sudo apt-get install build-essential libssl-dev libdb5.1++-dev libboost-all-dev libqrencode-dev libminiupnpc-dev libminiupnpc8 git

afterwards i ran the
sudo make -f makefile.unix

and used this config file
rpcuser=GridBitUser
rpcpassword=GridBitPassword@
rpcallowip=127.0.0.1
rpcport=12033
port=12034
gen=0
server=1

when i try to run the gridbitd it just hangs with no output ...

is this the right place to ask ? if not where should i go :P ?

Thanks in advance.

then go give the money to devs, there is currently 20 ipo's you sure think it's better that one person takes the money instead of all of us mining/renting and more people sharing the wealth, so just go buy into ipo's(which are the real scams whether you buy them or dev from himself (free coins) then selling it to you bellow ipo price it's still profit to him)  

Done!

what is up with suprnova can't even log into pool?

Had the same issue. Currently mining with xHash

Can't register my account, i am getting  "Error: Verification code error "

But best error so far was " Error: Invalid assword. Please try again. " :)

Fixed

still offering GRID coins pm me

I'd give that exchange a miss if I were you, it's not known enough to be trusted yet.

It's wouldn't be the first scam exchange, just be careful.

Just curious, what are you selling for?

Personally I think when the Dev gets his ID verified, and the beta is released, this coin will most likely be in the 20K+ area.

My balance showed up when I transferred it.  The market is a bit thin for GRID- only 1 order up so far.  I wouldn't trust them with much more than $5 of coins until they have established themslves.  I'll report back if I have any issues.

They wait until they build up a little trust, then they hit you!

You have to fixn it again

Mr Dev, how till PoD is complete?

I'm expect a surge of interest when it released. :)

I've fixed one issue, but forgot about the other ... :-)

Both fixed now !

They don't give you way to withdraw your coins without a Chinese phone and a verification code sent to it.    Definitely not cool.

too generous, look at the recent trend, 5k would be a very high price, no way will reach 20k

With only 2.5 million coins and decentralized storage! I think 5k is way too low.

I'd like to hear what others have to say about their price prediction.

Look at storj, they have a market cap of $1.3 million as I write this.

I agree.But provided everything works out as expected.

Agreed, it's upto the dev to deliver.

Any news from dev about progres?

Beta client release date: 08.26.2014 (preliminary)

Good to know.

Shady shit!

Gonna be interesting with those few coins and cloud storage services :)

still got some GRID left that i can sell - pm me

Dev what's the delay with the POD's ?

would be nice if we hear about it soon.

That's what i'm waiting for, he said he was on the case.

Perhaps he's waiting till PoW is over?

Either Way pods or not, Beta would be nice to test.

Dev, we need to exchange！

Why do you want to dump?!
Maybe, this can be a very interesting concurrence to storj...

Yeah this could give storj a run for it's money, we'll have to wait for the beta to see if it's any good.

Only about 500 blocks left, we can start staking then.

We'll see. :)

I hope so :)

hello a stupid question maybe :P but on other coins i mined i could see the rich list with the top wallets i checked the blockchain and didn't see that option there am i missing something or is this like a feature someone has yet to implement ?

why does it matter to me you might ask , well it helps me decide if i wanna invest more money if i see more people with big wallets and not just one big wallet that belongs to an exchange / dev .

thanks in advance .

hope it is not  another hertzcoin....

That's why we need PoD before it get listed in any exchange.

Dev told that within 24 hours he will submit all the docs for PoD.

Dev ! Please tell us the status of PoD.

https://c-cex.com/?p=grid-btc

Too early for an exchange, the DEV hasn't proven himself yet.

I'd like to use a the rich list is too ,it would be nice to be able to see what distribution this coin has, also I'd like to know where I am ;D

Who ever is selling at 2300 sat, raise your price this coin only has 2.5 million.

2000 lol what you got free electric?

f dogs

Seriously who sold at 800 sat?

and now the pump,..

5k would be the reasonable price,..

those dumping at 800 sats  :P to you

Means nothing has been delivered yet, I would have to agreed around the 5K mark.

This coin has tremendous potential.If it's execution is done well then sky is the limit.

last 377 blocks  8)

Quick mining frame, no PoD, the dev shows no technical knowledge, postponed beta, the dev always says "later", etc. Be careful, it may be one of those anoncoins-like scam.

Yeah we need that proof of developer, the dev ain't delivered diddly squat yet.

Dev how is PoD coming along, you said you were on the case two days ago, you ain't even posted since.

hashrate is roughly at 15 gh/s ^^ (xhash has 8.8 and the find a bit more than 50%)

crazy hashrate for this coin :)

indeed

yep crazy hashrate indeed but the miners are dumping like crazy already  :o

what is the ETA for the cloud storage feature..2 weeks..1 month...2months? And are there any other features you guys would be working or some kind of road map, or will it just be the cloud storage?

As per dev mentioned in the ann - Beta client release date: 08.26.2014 (preliminary)

Any ETA for the bounty  ::) and please respond to my messages !

Ok thanks, i missed that. Waiting for the dev to answer the second part of the question. And maybe some transparency..who is on the team, can you guys do some POD (preferably with crypto asian..its free). Newbie devs scare the shit out  of me these days.

Dev told that he will do PoD.But please, wait for his reply/update

mining ending in few hours :)

GRID is now top two traiding coin on

https://c-cex.com/?p=grid-btc

About 50 blocks left, the net hash is 16GB :o

"networkhashps" : 19007977933,

 :o

Network: 23.25 GH/s

They are fighting over the last couple of blocks.

i think poW done now

Well done dev PoW went smooth.

2k- 1k sat?
omg  :(

The dev could be a scammer.
DANGER!

What an ignorant statement to make, atleast show some proof you moron.

The Dev has shown no signs of being a scammer!

He never said the dev IS a scammer, he said he COULD BE a scammer. Its a general statement that could apply to every crypto dev. Still waiting for the dev to answer my questions about POD and future road map. The "preliminary" (I think this means beta?) release is just 3 days away. Lets see what happens.

He (or she) showed a lot of obvious signs of a scammer. So GRID is most likely a scam.

I confirm. He is a scammer ! He has not paid me for mac wallet build.

Dev, if you futuristic then please finish POD by CA/CS.

where is the dev? disappear?

That's not a good sign >:(

He has not logged in for three days, this is no way to treat your investors.

What? Did you just edit karimdr2's post or did you accidently put what you had to say in his post? Did you mean to say that "I have received the dev's bounty"

Dumped to the death?

AHAHHAHA wtfff just happened.

Quite curious about what happened too...

Well...there is some really good support around 1-2 sats!

Dev's last post was.."DONE!"...i hope it wasn't pun intended.

At that price you can buy the whole coin for less than 0.05 BTC.

I'm holding off on calling scam just yet, but it's odd that the Dev has not bothered to log in?

Perhaps he couldn't get PoD as he intended to scam us?

Perhaps he's keeping quiet while he buys super cheap?

Perhaps he had a aneurysm while coding?

Perhaps aliens abducted him?

Perhaps he just said fuck it!

I have feeling this happen with all coin on c-cex

dev didn't even update his OP with c-cex exchange, i see no future for this


maybe he isn't but his coin is dead

Hello everyone

3 days is not an insane amount of time i think we all lost coins one way or another due to devs being gone however
cant we al least give him the credit and wait for the 26/8 maybe he is working his ass off in some basement ..

shame to  kill the coin before the beta released...

I wouldn't say dead just yet, but it's not far off, the dev has a limited window to save this coin.

It's a shame, look at the price of storj today.

I'm sure he has an internet connection in his basement.

Something is not right, why wouldn't post for the last three days? especially after PoW had ended?

In other news my wallet is staking quite nicely ;D

Not that it will matter without a Dev.

we will see what happens - when dev shows up prices could jump up again

Yea I have 0.5 btc on standby and waiting to panic buy if the dev shows up.

And if this was a scam...it was the worst executed scam ever, not to mention a reflection of how dumb the dev is. He couldve easily played all of us and sold at a much higher price. This didnt even get to see any spike in prices let alone a pump, non whatsoever. He couldve made like 2-3btc tops...

what a dump on c-cex,dev sold his instand mine and run away, like a chicken boy

well there was a warning in this thread, but as usual people don't listen, they deserve it

Dammit wasted three minutes reading the thread, came down to the last page just to found it's gone.  :(

You know, In the near future, lauch a coin will be very, very difficult. these scam devs will be very regret for what they did, dump a coin for a little money, even that money can not cover one month life spend.

I don't get it? It's not like the Dev has actually scammed any bitcoin?

He's just made us waste waste our money oh hash.

can't u read the charts. he dump 50K in 1 minute

50k was easily minable with some rented rigs - its not clear who dumped it

maybe he saw that there is no interest and left the coin alone, many devs do this, they want fast high volume, high price ecc..

nope. Coin has generated lot of interest but it's only the dev who was not active since beginning.May be due to PoD request or unable to deliver what was promised are the reasons.

I'm going to give it one more day before I declare scam.

Maybe bitcoin talk should do A PoD before someone can launch a coin?

That would cut the number of scams by 95%

lot of interest is relative, maybe for his isn't a lot, he expected more, there is no other reason for dev

Maybe, just maybe, he's keeping quiet to scoop up lots of cheap coins?

see what one or 2 speculative comments does to a coin, which one is moron saying he dumped 50k ,50k at 1000 satoshis is 0.5 btc , i doubt that he waited days since launch to finaly make 0.5btc.

Dev is here ;) Sorry guy - I`m working alone on the project - just dont have enough hands to do everything.

nice lol. Can you give some development updates before you leave again? Is the preliminary wallet release still scheduled on the 26th? Thanks.

Yes it is.

Ok cool. Earlier in the tread you also mentioned you would send in your application and do POD...is there any reason why you havn't? And a page back, I asked a few questions...was wondering if you could answer them. One was about POD, and the other question was ..will we see a road map of other features after the cloud wallet is released? Also can you post any screen shots prior to the release on the 26th so people dont panic again? Thanks

just give it a rest , the guy says he's working on it, i rather he justy comes out with it instead of promises.

I'll let the dev answer the questions, thanks. There was no need him to ingore the questions either. Theyre legit questions.

Regarding POD - I do not really know much about it. What information about me you want to be disclosed?
About roadmap - I will present it little bit later probably right after beta wallet.

^^^^thanks for the responses. The free and more reliable POD is through cryptoasian.com or you can DM him https://twitter.com/CryptoAsian. It might be futile but will bring in investor confidence.

welcome back lovely dev i had faith in you :)
and i bought some coins in the sell frenzy how about a rich list what needs to be done here ? :)

I was about to give up on this coin, I don't care where you have been Dev, just glad your back.

Till PoD and beta client release, please not invest big in this coin.

Ok, I can do that
Meanwhile you may check my personal linkedin account. I'm not a fan of all this social stuff tho, I'm not active there
www.linkedin.com/pub/archie-koppel/a2/247/a58/

That is actually pretty remarkable. Few devs have the guts to publish their personal info here

+1.

Thank you Dev.

Not to be rude but you said you had a partner who is one the best C++ engineers super3 offered you an opportunity to look at different type of attack vectors that you may need to deal with Sybils attacks. cheating nodes etc  I don't think you took him up on that.  and now your working alone. 

I wish you luck I just dont see you having much success this last week.

Sorry man because scams are running rampant in this industry, that's not enough. To gain trust, you have to prove you are Archie Koppel and that Archie Koppel is a real person. When I search "Archie Koppel" on Google I only find the linkedin page and nothing else.

I have to agree with this too. And please address I3mmy's concern about your partners/team members. Thanks dev.

Mr Dev i am impressed very well played with the linkedin profile i have yet to seen this on any other coin offical thread.

It will get proven in PoD and as Dev is doing PoD then let's wait for it.

Anyway i agree with ICO Dude that it is pretty remarkable and healthy trend in Crypto that the Dev has posted his Linkedin Profile link here.

Dev can you add a rich list to the block explorer?

Or maybe put a bounty up for one?

People like see how spread out the coin distribution is.

Thanks.

This Dev is not very active.

ROFL

If he wants this coin to succeed he should be a lot more active in the forum, as it is now, we're still not sure if he's run off again.

THis coin launch wiht huge hashrate like 60G+, Dev instaming his coin from beginning. no way he would do POD, and the decenrtelized stroage, just a PS

dump it before big loss

The price is so low on ccex it's not worth dumping, you wouldn't have a hidden agenda would you? Like trying to get your order filled?

How do you know it was the Dev who had all that hash? Anyway if I had developed something like what's proposed here, I'd mine the shit out of it!

Let's wait until the beta release date to see what happens.

That LinkedIn profile is unavailable now. 

DOUBLE ROFL ROFL

Hmmmmm, not very encouraging.

Come on dev, you gotta be more active then this and have to answer members questions and concerns, especially right before a release. If this is a scam, its not a very well orchestrated one, unless dev was content with making 1-2btc lol..if that even, taking in consideration the cost of mining.

ignore premine coin

I don't think it's a scam, I just think he's not bothered with this project?

you mean he's not interested in it himself?

Possibly.

Wasn't there supposed to be two dev's, perhaps they had a bust up?

I don't see any 'cloud' tab in my wallet?
cud u post where can i look for it?

It's not been developed yet.

Coin is dead? People have been dumping?

Dumping what .. the couple of coins they have been mining?
I think there is another misteeque around this one..

Development disappeared, he gave up the COINS?

I'll guess we'll see if the Dev delivers the beta today?

I'll give 50/50 odds.

Let's hope he does. Honestly it doesn't sound scammy to me, just like one person who's doing a shitload of work by himself.

And the typical ADHD crowd completely ruins what could be a good project.

Maybe your right? I don't think it's a scam either.

wouldn't that be a gamechanger(someone actually working on a coin for a change :)

im still waiting for all those amazing features i was promised in so many coins :P
if this product works well ill be so happy  :)

DEV it's the 26th, time for a release? You logged in yesterday, so obv you're still around. You might want to say a word or two.

Some movements at c-cex!  ;)

This is absolutely hilarious. People are still talking on this thread. Didn't you see the linkedin posting LMAO

Agreed, it's time to produce something.

Unfortunately,dev has bailed.

Name:   GridBit
Posts:   34
Activity:   28
Position:   Newbie
Date Registered:   August 16, 2014, 05:26:43 AM
Last Active:   August 24, 2014, 01:51:46 PM

Dev,

Is this coin dead now?

I'm afraid so.

Shame, as I managed to mine 5% of this coin, Dev go fuck your self.

i really hope it doesnt end this way it was  a solid idea ..

Dev have heart to say its over if you cant make it happen ... you dont seem like a scammer there was no real profit in this coin to be had in the short time it was on C-CEX

Game Over  8)

Lol if u click on the link below my signature.. u will earn more bitcoins i think then with this coin -.-
U just need to registrate, and that's it, everyday u get ur coins like bitcoin,doge and more.. U get more i guess then put ur time in mining death coins ( and it save electricity )..

I hate this upcomming coins like parasits.. The op looks good, but when i go to the last page its all sh1t.
Why the hell waste time on make an OP and more and after that just leave.. To much overtime in life?..

why pow?

i don't mind the few bucks i lost for mining this coin

i don't get it ... what kind of benefit for the dev? selling his premine at the best price? ridiculous ....

I see two scenarios for what happened.

A: It was a scam and the Dev had no intention of doing PoD, so he ran away like a little girl.

B: His coding partner bailed on the project, leaving him in the dark, again leaving him run away like a little girl.

Anyone want to buy 126K grid, lol.

well it was a shit coin since launch, there was a warning also...

  ;D  Similar to that of XBIT

yeah me 2.
why not holding one more of this useless coins *shrug*  :P

 I bought 50k at 1100 a few days ago. Maybe it was the dev who dumped into my orders? Either way wtf is the point of selling now. I have a few more orders under 100sats, why not lol. I was 90% sure this thing was a scam when I bought. And the only reason I bought was the risk to reward was too good. If this thing is legit its worth a lot more than 10k thats for sure. And even though now Im 98% its a scam, Im still holding and buying under 100 sats. That 2% is worth the reward.

Not the dev.Selling around 1k sat at least fill the electricity cost.I have dump half of mine at that price.I think those lucky guy with free electricity would dump much lower if the dev bail for more than one day.

I know it's a horrible thing to say, but I really hope the Dev get's Cancer!

if you don't mind me asking do you own or reented for it?

no, DEV at c-cex hyping his coin , he want get listed on bittrex and pump to 10K+, then dump instamine, just like HAL did

I rented 1.2 BTC of hash, would of been an awesome investment if the Dev didn't run away.

times have changed , it was so nice to rent few months back but lately even that is to risky , we ran out of buyers, i think our buyers turned into speculative renters as well.

   Maybe ！ ;D

This has been a known scam for a while now, ever since that linkedin profile was posted. Please stop gambling on shit coins.

Do you guys think that bitcointalk should require a PoD in order to launch a coin?

It would cut the number of scams drastically.

that is an awesome suggestion ... i am the wiser man after this coin so many people just not giving a F*** about other people money seriously the dev didnt get enough money to cover his time for sure with the price being dirt cheap from the get go .. this is just sad all around .

The only thing is that, I know that the scumbag is working on his next coin to scam us.

We have Storj, Maidsafe already, why  we still need this coin

well dev gone coin dead .... rip  :P

Dev where you are, we need you? ??? ??? ??? ??? ???

Inactive link.Fuck you and your whole family dev.

Lol.