[ANN][EST 2014] Rimbit - We removed mining so its just the community and coin

[Fireguy71]

The exchanges Rimbit is listed on are found at https://coinmarketcap.com/currencies/rimbit/#markets

[rimbit]

The exchanges Rimbit is listed on are found at https://coinmarketcap.com/currencies/rimbit/#markets

Strange how people are holding onto Rimbit though... We waited a long time to get on exchanges...

We are looking forward to getting listed with some of the bigger exchanges over time, we will see Rimbit being traded on more exchanges...

We are putting together our own Exchange, but that so we can directly help users with support, both on the site and our forum...
Just makes sense to have it run internally, so we can manage the financials to make sure the exchange is run efficiently and without the MtGox/Cryptsy issues and pool funds directly back into development

[rimbit]

Small updates to the ANN main page  

[Dekker3D]

Joined the forum as I just recently found out about this. A long read but definitely a refreshing one as there are no altcoins out there doing the same thing (AFAIK).

[toucan]

RBT has been simmering along for a couple of years, slowly gaining adherents and having a story to tell about a better coin as mining has been eliminated. This is a new concept just like BTC was when it came out. It took 3-4 years before enough people had heard about it and understood the 2 concepts of mining and crypto coins. Then the price took off to the stratosphere.

 Once the concepts of mining and coins had become known and accepted, followers like LTC, ETH, only took a year or more to gain widespread acceptance and the developers stuck with the coins. There are many other coins launched that were 'pump and dump' coins that fleece the public. When the developer gets his money and abandons them, they are doomed to be 'failed coins'.

 RBT is different in that it is not mined. So we have a longer period of consolidation due to having to educate the public of the advantages and long term viability of this concept of no mining vs mined coins. Mined coins will eventually bump up against Moore's Law and will not be able to continue. BTC is approaching this point now after 7 years with smaller miners ceasing operations as they are losing money. Once the last miner turns out the lights, BTC is worthless, and the other coins will just be a few years behind until they hit the wall as well.

 We are 2 years old now, and I think the concept of everyone's wallet minting new RBT and confirming transactions is starting to gain traction. Our developer and leader CyberHippie has stuck with his coin through thick and thin (heart attack included). We are still simmering along (light a great sauce) but eventually the heat will be turned up and RBT will boil over like ETH above.

[toucan]

Joined the forum as I just recently found out about this. A long read but definitely a refreshing one as there are no altcoins out there doing the same thing (AFAIK).

Hi Dekker3D..welcome to RBT, the gold standard of cryptos as no one can control it..not miners, not evil organizations (Bilderberg) nor governments. It is a true community coin

[Dekker3D]

Joined the forum as I just recently found out about this. A long read but definitely a refreshing one as there are no altcoins out there doing the same thing (AFAIK).

Hi Dekker3D..welcome to RBT, the gold standard of cryptos as no one can control it..not miners, not evil organizations (Bilderberg) nor governments. It is a true community coin

Registered here
http://www.rimbit.com/threads/join-the-forum-and-get-100-rimbit-to-get-you-started-then-more.1867

And got the 'starter pack' as I call it. After reading the articles on your forum, I'm convinced that this coin has a good future. Can't wait for the next announcement

[toucan]

I know you diehard miners are convinced that RBT is bad idea because it isn't mined.

However, if I am right about Moore's Law and that the mined coins are doomed to failure as the ASIC chips cannot increase computing power quickly enough to continue to solve the algorithms, then what should you do?

How many of you have a little gold or silver, just in case the fiat currencies collapse?

RBT is the same for cryptos. It cannot collapse as BTC and every other mined coin is destined to do. So be prudent and buy some RBT or trade some BTC for RBT on the exchanges.

Don't be kicking yourself in the butt as RBT becomes equal to BTC as RBT is rising and BTC falling. Right now you can get about 40,000RBT for 1 BTC

Buy RBT on IndieGoGo   https://www.indiegogo.com/projects/a-digital-currency-that-is-built-for-everyone#/story

You can also get RBT on C-Cex, usecryptos and Yobit exchanges

[robelneo]

I would like to ask this for the benefit of the readers so Rimbit is 100% premine "Premine 100% - (The only way to distribute a minerless crypto... funds used to maintain operations and continue development while avoiding corporate influences)"

so it deviate from the Satoshi Nakamoto's concept of decentralization since only some groups control the whole Rimbit coin..

Many people here shows dissatisfaction when devs announced 1 to 10% premine of ther newly launched coin,what more if 100% is premine

[rimbit]

I would like to ask this for the benefit of the readers so Rimbit is 100% premine "Premine 100% - (The only way to distribute a minerless crypto... funds used to maintain operations and continue development while avoiding corporate influences)"

so it deviate from the Satoshi Nakamoto's concept of decentralization since only some groups control the whole Rimbit coin..

Many people here shows dissatisfaction when devs announced 1 to 10% premine of ther newly launched coin,what more if 100% is premine

Your exactly right and way back in 2013-2014, we looked at every angle we could to avoid premine and still provide a minerless system.
If RBT was issued free, how would it be issued.. what incentive is there to leave wallets open for minting?
The only solution was to give it initial value and control its distribution via a transparent platform which is our Crowdfunding Campaign...
Which we where asked to Beta Test as "Continued Funding", which came at the right time and let us remain transparent.

So when Rimbit was launched, it stated and does so to this day, that at some stage, all of the operations will be managed by community leaders.
Already we have started breaking up some of the management, mainly in the software/hardware development operations.
We hope to continue breaking up more of Rimbit over time, until the point its 100% community owned..

We also sponsor members developments, one of which is the RaspberryPi which the beta testers are waiting on testing.
The software will be freely available for users who have RaspberryPi's and we also have pre-built Pi's fully configured and ready to run once they are plugged in, with cases custom 3D printed.
The files for printing the 3D cases are also freely available at https://www.tinkercad.com/things/c1aeovbC1ev-rimbit-pi-case-complete

You can see the Pi being tested at https://www.youtube.com/watch?v=lLw0lLQDOhI

As for Satoshi Nakamotos concept of decentralization, thats already been defeated the day people had to move away from GPU mining to ASIC mining, which was then controlled by the ASIC manufacturers, who actually mined using customers machines in some instances... then ASIC miners essentially moved to China were it is now well over 51% controlled by them.

Now that is failing and miraculously, a China Exchange volunteered the expenditure of establishing nodes to prop up the Bitcoin Network... and did so for humanity...
Lets see how their humanity works when they have manipulated Bitcoin as they need and when they have had their fill, watch how quickly those nodes are pulled from the network!

[toucan]

It is 100% premined, and you just purchase what you want on the IndieGoGO campaign. What could be simpler?

The funds received on the sales at IndieGoGo provide funding for development of new enhanced wallets, servers to run the forum, salaries for developers etc., funding to develop the RimbitPi etc

The stated aim of the developer is to turn future development and running of the Rimbit ecosystem over to the community.

Despite what the original hypothesis of Satoshi Nakamoto's concept of decentralization, it no longer is decentralized as 20 mining companies now control 95% of BTC and they can easily be taken over by the ChiComs as most are in China.

Rimbit is totally decentralized. Your wallet with 10 RBT can provide confirmations just like someone else who may have 50,000RBT

[robelneo]

In my opinion this is a corporate managed company,you premine all the coins and sell it to people who wants to profit from the coins  it just like a stock,people are buying stocks from the people or groups who holds all the coins,and get a future profit from holding it .,

You have a good concept but it deviates from the true concept of decentralized,

[rimbit]

In my opinion this is a corporate managed company,you premine all the coins and sell it to people who wants to profit from the coins  it just like a stock,people are buying stocks from the people or groups who holds all the coins,and get a future profit from holding it .,

You have a good concept but it deviates from the true concept of decentralized,

Agreed 100%.... In fact I have said we are 100% centralized and moving over to 100% decentralized and Bitcoin is 100% decentralized and is moving over to 100% centralized...


With Rimbit it will be handed over to the people to manage... Which we are just starting to do.... Something I also stated on day one of the launch....
On the forums now, many decisions are made via public consensus/polls and they will increase in numbers as more of the management is done by the people on the forum.
And its people like you from a background of Bitcointalk that has started to fuel discussion on our forums, something that we have been lacking for a long time and grateful that it is happening now

[toucan]

We don't need a mining pool as it is not a mined coin.

We are on C-Cex already.

[Hamukione]

We don't need a mining pool as it is not a mined coin.

We are on C-Cex already.

Its a PoS coin.. I know.

But do you know what a multipool is?

Lets you mine the most profitable coin, and get that exchanged to your coin automaticly.

[CelluleRB]

We don't need a mining pool as it is not a mined coin.

We are on C-Cex already.

Its a PoS coin.. I know.

But do you know what a multipool is?

Lets you mine the most profitable coin, and get that exchanged to your coin automaticly.

What you mean by "the most profitable coin"?

[rimbit]

We don't need a mining pool as it is not a mined coin.

We are on C-Cex already.

Its a PoS coin.. I know.

But do you know what a multipool is?

Lets you mine the most profitable coin, and get that exchanged to your coin automaticly.

What you mean by "the most profitable coin"?

I am only guesstulating, but I think it means that you mine the coin that will get you the best return for that period of time that you mine.

How it automatically converts back to Rimbit has me lost.... Unless they have a stash of it for transfer, as you cant get it any other way

[toucan]

Come on people, be a part of a world changing development.

 Rimbit will be the universal currency for the next millenium (and probably longer, but I doubt I will be here to experience it myself)

 As Steve Jobs famously told John Sculley of Pepsi when he was trying to get him to move to the CEO position at Apple..

Do you want to sell sugar water for the rest of your life, or do you want to come with me and change the world?

 So it is with RBT, do you want to continue with a sure to fail mined coin or coins or change the world with a better coin that cannot fail.

 This is the opportunity we are giving to John Q. Public. Join us and be a part of something special that you will be able to tell your grandkids, I helped get Rimbit into the mainstream.

[rimbit]

We are approaching our 2 year anniversary which is on 23 March and from now till the 23rd, I will be handing out free Rimbit randomly on the forum for new posts and even older posts that are funny, controversial, helpful or simply good 

[shojayxt]

So you basically premined 100% of the coin.  Sold some off in a crowdfunding and have been selling whatever you can on exchanges ever since.  You keep bumping the thread and deleting posts hoping someone will come along and think this is something to invest in and buy more of your premined coins. 

How does that benefit anyone but you? 

Available Supply:  113,988,941 RBT   

Total Supply:  391,948,674 RBT

Anyone can make a 100% premined coin, promise the moon and the stars, and sell to anyone foolish enough to buy.

https://github.com/Rimbit/Wallets/blob/master/README.md

Rimbit is derived from NovaCoin and has:

8 minute block targets
380 million initial coins to be distributed.
10% interest for roughly one year and then 5% interest.
100% PoS after 1000 blocks.

380 million coins for you to try and slowly sell off and put the btc in your pocket for making a clone of NovaCoin.  Too funny.