[ANN][CRB] Creditbit - ERC20 token

[rendravolt]

Woooow!  cant wait to see what will happened!  Great job guys! C'moon! Too the mooon!

All are still in the stage, we stay tuned.

[1714217201]

1714217201

[1714217201]

1714217201

[bitabit]

Hi CreditBit Community,

recently some misunderstandings appeared, so we would like to explain some names, organization, groups and relations. We would like to stress, that not only coins/tokens are decentralized, but also the organization structure and process of making decisions. Below we are sharing some blockchain-based idea of democracy, but despite these new mechanisms for reaching an agreement, we still strongly believe, that trust is still one of most important assets of crypto community.

We would like to thank you for all suggestions, we tried to implement some of your ideas in our vision and concepts.

CreditBit is the name of the open software project and also a name of the current crypto currency. The logo of CreditBit changed recently, together with introducing the second roadmap.
As you probably noticed, a development team of CreditBit changed completely quite recently, but strategic goals and purpose of the project and the community remains the same.

CRBIT is the abbreviation for current CreditBit crypto currency, at the moment it is still a “classic” crypto coin from Bitcoin family, based on Blockchain technology. Soon, all coins will be “migrated”, and the name will most probably change to distinguish between original and the successor, Ethereum CRBIT token.

Migration is actually a process of exchange or replacement. It is common, but not obligatory, that exchange rate is 1:1. So if we decide for that rate, for each coin (CRBIT), that its owner deposit and lock on the migration website, new token(s) will be issued and made available to coin depositor.

Credit 2.0 (also “credit2”) is the name of second roadmap of development, which consists of several subsidiary projects, from migration of CreditBit coin (CRBIT) to Ethereum token, writing several Smart Contracts, establishing new web site(s) and developing new apps etc. All subprojects will be announced and will have names, starting with Credit- (ex. CreditGAME).

CreditBit DAO will be a decentralized organization, that we plan to establish after migration (8th March), to enable community voting and raising funds for development and promotional purposes. CreditDAO is a subproject of Credit 2.0 that aims to provide development and sources to establish this organization. ATM, we are tweaking the details of this mechanism and organization structure. But the core idea is to give a community a decentralized power to decide about all important issues in fair and safe manner.

Development Team (Dev Team) is a group of developers, designers and PR persons, working closely together on Credit 2.0 projects. Team is having regular meetings and post announcements about development and strategic topics. Members are not disclosed to public to protect their privacy. Original development team that started CreditBit in 2015 and made a fantastic journey from implementing some innovative consensus mechanisms to altering blockchain configurations (block time). At this occasion, our development team would like to express our gratitude toward their efforts and achievements.
New development team started on this project in first days of 2017.

Development Support Team (Dev Spt Team) is a group of individuals that offered their voluntary help to Dev Team in the fields of developing, design, promo material creating and others. After establishing, the CreditBit DAO will reward these individuals (in CRBITs) after successful delivery. It is not our intent to fully compensate the costs of their work, but to show some gratitude.
We plan to put these independent tasks on our website, where members of Dev Spt Team will be able to stand for each task. A member of Dev Team will moderate this process with accepting developers with best solution proposals.

Promotional Team (Promo Team) is a group of promoters, who promote usage and look for new possibilities, use cases, valuable integrations etc. We would like to accept journalists, crypto enthusiasts, investors, analytics and evangelists that show interest towards our projects, coin/token and community.
CreditBit DAO will probably also offer some rewards for most creative, innovative and content rich ideas and individuals.


Keep track...you will hear from us soon...

 

Thanks for great update.
Love every tuesday and thursday.

I just briefly checked your coin without going too much into the technical detail and I noticed something unusual.  Leo with over 55% of all trades is the main "currency" to buy CrediBits and Leo is number 582 in coinmarketcap.  On top of that Leo has a pre-mine of 5%.
I think I can skip coming up with a conclusion in light of its obviousness.

[DXB2017]

Guys, remembers this creditbit move from total dead coin and price 0.005$ to crazy 0.25- 0.30$....WTF ...
Coin thanks to god got good dev team they move forvard.

[LowByter]

I just briefly checked your coin without going too much into the technical detail and I noticed something unusual.  Leo with over 55% of all trades is the main "currency" to buy CrediBits and Leo is number 582 in coinmarketcap.  On top of that Leo has a pre-mine of 5%.
I think I can skip coming up with a conclusion in light of its obviousness.

Well briefly is surely the right word since LEO/CRBIT is only 3% of all trades with Bloombit with CRBIT/BTC leading the chart for weeks now.

So whatever your conclusion is it's pretty groundless.

[mctrader]

Oh, the CreditBit! Now I have figured it out why demand on X11 spiked on NiceHash.

Well, if you need massive hashing power to mine some CRBIT while price is on the rise, make sure to buy some on X11 marketplace.

thanks for info...but CREDITBIT is solo POS. I use your site for mining all the time...

[vprf]

Are the peeps on this board having a Jumbuck deja vu or is it just my imagination?

[LowByter]

Are the peeps on this board having a Jumbuck deja vu or is it just my imagination?

Must be your imagination since there is no similarity...Creditbit isn't mined, it's on 5 exchanges compared to one of Jumbucks, Cbit has a lot of new projects coming and is going to Eth platform in a month, it's also an older coin...community is a lot bigger as well.

[bitabit]

I just briefly checked your coin without going too much into the technical detail and I noticed something unusual.  Leo with over 55% of all trades is the main "currency" to buy CrediBits and Leo is number 582 in coinmarketcap.  On top of that Leo has a pre-mine of 5%.
I think I can skip coming up with a conclusion in light of its obviousness.

Well briefly is surely the right word since LEO/CRBIT is only 3% of all trades with Bloombit with CRBIT/BTC leading the chart for weeks now.

So whatever your conclusion is it's pretty groundless.

Oh that is odd.  Coinmarketcap now shows a figure that makes more sense with 90% BTC/CRBIT on Bloombit.  I guess that info was missing yesterday.

[DXB2017]

New interested read.

http://www.newsbtc.com/2017/02/08/community-still-centre-creditbits-second-stage-development/

[LowByter]

CreditBit is the name of the open software project and also a name of the current crypto currency. The logo of CreditBit changed recently, together with introducing the second roadmap.
As you probably noticed, a development team of CreditBit changed completely quite recently, but strategic goals and purpose of the project and the community remains the same.

CRBIT is the abbreviation for current CreditBit crypto currency, at the moment it is still a “classic” crypto coin from Bitcoin family, based on Blockchain technology. Soon, all coins will be “migrated”, and the name will most probably change to distinguish between original and the successor, Ethereum CRBIT token.

So there is still a chance to keep the "Creditbit" name for the coin? 

With all the stories being written all over the internet about Creditbit lately and with all the popularity that Cbit acquired lately it would be a shame to change the name just because of platform change, we don't see the Ethereum platform when we use Cbit so it's the same for the user what's underneath.

Plus you would have to explain to general public "yes that's the same coin that had such success in January and February".

If someone is not following this thread how will they know on the market that new coin is this coin, Creditbit, you would have to use more marketing power just to teach people that it's the same project because all they see are charts for Creditbit and rise and everything and now it's all gone and starts all over with a new name.

If I think of more reasons to stay with this name I'll write again

My vote is to stay with the original name

[DXB2017]

CreditBit is the name of the open software project and also a name of the current crypto currency. The logo of CreditBit changed recently, together with introducing the second roadmap.
As you probably noticed, a development team of CreditBit changed completely quite recently, but strategic goals and purpose of the project and the community remains the same.

CRBIT is the abbreviation for current CreditBit crypto currency, at the moment it is still a “classic” crypto coin from Bitcoin family, based on Blockchain technology. Soon, all coins will be “migrated”, and the name will most probably change to distinguish between original and the successor, Ethereum CRBIT token.

So there is still a chance to keep the "Creditbit" name for the coin? 

With all the stories being written all over the internet about Creditbit lately and with all the popularity that Cbit acquired lately it would be a shame to change the name just because of platform change, we don't see the Ethereum platform when we use Cbit so it's the same for the user what's underneath.

Plus you would have to explain to general public "yes that's the same coin that had such success in January and February".

If someone is not following this thread how will they know on the market that new coin is this coin, Creditbit, you would have to use more marketing power just to teach people that it's the same project because all they see are charts for Creditbit and rise and everything and now it's all gone and starts all over with a new name.

If I think of more reasons to stay with this name I'll write again

My vote is to stay with the original name

As i know,the problem are exchanges can not take name with more then 5 sign. its why need to be CRBIT.
To be honest i  like project,love price rise,fuck the name.

[gobbi]

Yes but ok lets call it CRBIT i see bright future for holders of this coin

[DXB2017]

now big shit happen to BTC,so i think all alts prices will go down again.

[LowByter]

now big shit happen to BTC,so i think all alts prices will go down again.

Or hopefully people will look for back up solutions in altcoins

[DXB2017]

now big shit happen to BTC,so i think all alts prices will go down again.

Or hopefully people will look for back up solutions in altcoins

Yeah..its good time now to stock  some alts.
lets see later today  devs updates

[CreditBit-dev]

Show CreditBit your Trust

Dear Community,
we will cover two topics regarding new token: Distribution Mechanism and Bounty for Promoters

Distribution Mechanism

Migration of CRBIT coin to Ethereum token will have many impacts. Since the token is build on the top of Ethereum Blockchain, there is no need to have an independent mining network or Confirmation Consensus Algorithms. We share same algorithms and network with Ethereum. But we have to tackle a problem of minting and distribution of newly minted coins on our own - this is one of the key attributes of each token.

How the Minting and Distribution process works?
Every real-life currency has its Central Bank Authority, that decide about issuing new amounts of currency. In decentralized communities like CreditBit Community, decisions about Minting should be accepted with some consensus and quorum. We would like to keep the currency and its management transparent and based on democratic principles.

Our token will have three Minting Processes:

• Migration: these tokens will be initially minted for a purpose of exchange for current CRBIT coins. Migration will be executed through web site, there would be several migration rounds (target date for first initial round is 10th March 2017), after each round a minting process will be fired, all tokens will be distributed to respective depositors of CRBIT coins.
• Proof of Pawn/Trust Distribution Mechanism: a minting plan will be proposed from the Development Team, some key settings of minting plan will be decided within migration. In other words, a Community will be able to vote for predefined proposals on how many new tokens will be minted and distributed in next time periods. At migration, each depositor will be able to vote for a favourite proposal, his/hers vote will be weighted by an amount of migrated coins. Later votings will be managed by CreditBit DAO organization.
  While other currencies minting plans are determined by their Dev Teams and hardcoded, we would like You, the Community, to offer your view and opinion. We trust the Community to decide, or even to change this minting plan in a later future.
• Dev&Promo Funds: we will ask Community to allow the minting of certain amount of tokens and deposit them on three dedicated Funds, each with different function. Decision about how many tokens will be minted for each Fund and at what time periods will be as well made at the migration.
  
  • Development Fund will be explicitly dedicated to cover some of expenses to our Development Team;
  • Community Development Fund will be dedicated to Development Support Team. After the creation of this Fund, the Development Team will provide several tasks on development and offer them to the Community and Development Support Team (Dev Spt Team). After successful completion or delivery of solutions for these tasks, a developer will be granted an award from this Fund. Specialized decentralized Board within CreditBit DAO will manage the Fund and confirm each task's completion.
  • Promotional Fund will be dedicated to Promo Team for promotional purposes (more in text below).

What is Proof of Pawn/Trust?
We already mentioned our Proof of Pawn concept, we could also use a term Proof of Trust
Proof of Pawn = Proof of Trust
We would like your vote on this topic: Which term should we use, “Pawn” or “Trust”? Please vote in responce to this post.

For each owner of tokens to participate in a distribution process, he must candidate with an act of Trust to Community. Locking a certain amount of Tokens will enable him to participate in different modes of distribution. With holding long position on tokens (locking), you are not able to create a transaction with these tokens, although they still belong to your public address.

We already mentioned CreditGAME project, that will distribute a certain amount of coins each time period among winners. Each game will be allocated with fixed amount of tokens to distribute in a certain time frame. Owners of tokens can participate in these games after locking certain amount of tokens. Depending on their game score, a game can unlock their tokens and award them with new coins or keep their tokens locked for a variable time period. While this is our favourite distribution mechanism, we might develop others, based on Proof of Trust concept. More details on CreditGAME and other mechanisms will be provided in next posts, most probably next week.

Bounty Awards for Promoters

Promo Team is opening its doors! This is an open invitation to all promoters, journalists, blockchain and tech enthusiasts, Ethereum addicts to join our cause. This is an opportunity to show your trust to this project and Community.
In a time before the migration and before establishment of Dev&Promo Fund, we will offer some symbolic bounties/awards for best promoters. We seek innovative, qualitative approach, as we would like to promote CreditBit to broad public. More details will be published next Tuesday (14.2.2017).

Keep in mind, that we are not trying to spam the media or even members of our Community, but to reach out to Crypto Community. Main goal is to spread a word about migration and its benefits, new minting and distribution process, attributes of new token and subprojects as CreditGAME and CreditIDENTITY.

ATM, we already carefully monitor the activity of individuals and media, that offered their help. We would like to express our special gratitude to @Bitcoin_Rush, NewsBTC, @Vindyne8 and others.

Coming soon...

[CreditBit-dev]

Oh, and BTW, have you seen our Twitter account yet? There are some changes, what do you think?

Don't forget to vote: Proof of Pawn or Proof of Trust? Let's see your opinion!!

Bye for now...

Dev Team

[DXB2017]

Oh, and BTW, have you seen our Twitter account yet? There are some changes, what do you think?

Don't forget to vote: Proof of Pawn or Proof of Trust? Let's see your opinion!!

Bye for now...

Dev Team

wow,WTF!
Your designer is best.
Lets read it careful and think.
Community lets vote.
Lets make Credit 2.0 huge

[Bagwell]

Woow great job dev team! Nice concept! Can't wait to see CreditBit on Eth protocol! This will be real huge ecosystem!

[DXB2017]

community,please come to slack of creditbit,add your mail here or pm new dev team so they will add you.