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Author Topic: Valorbit | VAL | https://valorbit.com | Valorbit coins Distributed By Humans  (Read 179578 times)
valorbit
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January 28, 2016, 08:56:39 PM
 #1

Coin name: Valorbit   
Symbol     : VAL
https://Valorbit.com

The Valorbit coin is Distributed By Humans (DBH)

  • Socially distributed by you on Facebook, Twitter, LinkedIn and over email.
  • You have the power to decide who gets more not just some mining hardware.
  • Deservedly get valorbit referral rewards from your Valorbit coin Network.

Step 1 :  Get a signup gift from Valorbit.com or from friends.
You can get a gift even after you signup with email.

Step 2 : Collect the gifts
The gifts are denominated in valorbits and can be collected anytime by adding Facebook to your Valorbit.com account.
Gift valuation is higher for SMS verified Facebook accounts.

Step 3 : Receive valorbits for collected gifts, some instantly and some over time
You get a Valorbit address , just like on Bitcoin, and valorbits are transferred daily to your addresses.
Right now you can access the received valorbits outside of Valorbit.com only by importing the private key into the Valorbit desktop wallet ( File->Import).
Web based transfers will be added asap.



Step 4: Get more valorbits sharing gifts with friends by email and on social networks  
Sharing on Facebook, Twitter and LinkedIn are supported at the moment.
You get credited with a gifting pool of valorbits to share gifts with friends.
Track your valorbit marketing campaigns on all distribution channels (clicks, signups, collections ).

The higher your trust level on Valorbit.com the larger your gifting pool.
Add Facebook for increased trust levels.


Step 5: Friends collect gifts with Facebook to receive valorbits.
Just press the [ Collect with Facebook ] button after your login to Valorbit.com

Step 6: You get referral rewards for the gifts that your invited friends collect.
Ultimately this is how you can make a lot more than just the signup gifts.
You are distributing valorbit coins to humans and that is something worth rewarding.
You only get referrals from directly invited friends whom collect the gift with Facebook.
Watch your gifts and referrals fully vest into your account and give the market a bit of time to assign VALue to your contribution to the Valorbit coin network.


Gift reward multiplier
Both you and your friends get a gift reward multiplier for collecting with SMS verified Facebook.
Activate at any time by adding SMS verification to your Facebook account and signing into you Valorbit.com account using Facebook.

Once activated the reward multiplier applies to all gifts, past and future.
You do not loose anything by adding it at a later time ( other than time of course ).
[/size]

You can mine valorbits in classic PoW(scrypt) and PoS(2%) modes.
These supported distributions are however secondary by volume to the DBH method.


Resources

Primary distribution platform
https://valorbit.com

Official Wallets
https://valorbit.com/downloads

Digitally signed wallet
MacOSX 64 bits

Wallets not yet digitally signed
  • Windows 32 and 64 bits
  • Ubuntu 64 bits

Mobile Wallets


Source code (GitHub)
https://github.com/valorbit/valorbit


Community contributions
( thanks to Juudai )
Author's announcement: https://bitcointalk.org/index.php?topic=1377403.0

Valorbit dice  http://dice.valorbit.win/
Faucet  http://valorbit.win/

Download the latest Valorbit blockchain

The blochain database enables the quick sync (almost instant ) of your wallet with the Valorbit coin network

https://valorbit.com/downloads

Unzip and complete the steps explained in the README.txt file
Content pasted here as well:

https://forum.valorbit.com/t/download-the-latest-valorbit-blockchain/144


Mining Pools

http://mineblocks.no-ip.org:2627/pool/VAL/
http://ypool.ga/val/

Good mining howto

CPU miner
https://github.com/pooler/cpuminer



CoinMarketCap.com
Work in progress :-)

Exchanges
C-Cex.com


Technical aspects

Understood By Humans
Valorbit humanely uses just 2 decimal digits.
E.g. : VAL 9.12

Primary distribution method
1% pre-mine Distributed By Humans over email and social networks.
You have the power to decide who gets more not just some mining hardware.
You get valorbit referral rewards from your invitees network.

Secondary distribution methods:
2% PoS annual interest
128 years of PoW Scrypt mining

Valorbit Block Explorers
http://unblock.valorbit.com/  ( ABE based )

Third-party explorer with exchange updated VAL/USD conversions
https://prohashing.com/explorer/Valorbit/


Block time= 4 minutes
Coinbase maturity = 250 blocks
Minimum PoS age = 8 hours
Default port=8338
Default RPC port = 8339

PoW block awards
  • Year 0   :   50 000 VAL
  • Year 1   : 100 000 VAL
  • Year 2   : 200 000 VAL
  • Year 3+ : 400 000 VAL


Max Money and decimal digits

Because of using 2 decimal digits the Valorbit MAX_MONEY is  92 233 720 000 000 000  VAL.
That is about 92 quadrillion raw units.

The socially distributable premine is 1%:
SEED_MONEY = MAX_MONEY/100;

The current Valorbit supply is 922 trillions VAL

Github.com: main.h


As we all know internally the cryptos use integer raw units.
The decimal place is a formatting convention for humans and correlates with a denomination like milli-bit or micro-bit.

Using the same units from Bitcoin units
we need to scale the units to compare similar things.

The Valorbit denominated in Mega-Vals :  1 MVAL = 1 000 000 VAL because MVAL has 8 decimal digits just like DOGE.
The Doge denominated in micro-Doge : 1  μDOGE = 0.000 001 DOGE because the microDoge has 2 decimal digits like VAL.


Working in raw units the current supply for Valorbit is actually a lot less than Doge.



Crypto    |        Raw units ( integer )     | At scale of 2 decimal digits     | At scale of 8 decimal digits
Valorbit  |     92 233 864 645 128 900 units |     922,338,675,349,230.00 VAL   |     922,338,675.00000000 MVAL
Doge      | 10,354,519,659,000,000,000 units | 103,545,196,590,000,000.00 μDOGE | 103,545,196,590.00000000 DOGE


About 112 times more raw units in Doge than Valorbit ( or micro-DOGEs than VALs).



From Bitcoin wiki
Bitcoin has 2.1 quadrillion raw units, making up 8 decimals of BTC precision

Currently about 75% bitcoins have been issued , i.e. about 1.5 quadrillions satoshis.


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January 28, 2016, 09:02:22 PM
 #2

{
"blocks" : 21350,
"currentblocksize" : 0,
"currentblocktx" : 0,
"difficulty" : {
"proof-of-work" : 0.00,
"proof-of-stake" : 0.17,
"search-interval" : 0
},
"blockvalue" : 5000000,
"netmhashps" : 0.01,
"netstakeweight" : 3985430.59,
"errors" : "",
"pooledtx" : 0,
"stakeweight" : {
"minimum" : 0,
"maximum" : 0,
"combined" : 0
},
"stakeinterest" : 2,
"testnet" : false
}
kcanup
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January 28, 2016, 09:04:51 PM
 #3

I am already 1000 VAL rich  Smiley


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DECENT
FOUNDATION



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[D]ecentralized application
[E]liminated third parties
[C]ontent distribution       



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[E]ncrypted & secure
[N]o borders
[T]imeless reputation 



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January 28, 2016, 09:15:36 PM
 #4

1%premine:
{
"version" : "v1.4.21.1-ares",
"protocolversion" : 60015,
"walletversion" : 60000,
"balance" : 0.00,
"newmint" : 0.00,
"stake" : 0.00,
"blocks" : 21364,
"timeoffset" : 0,
"moneysupply" : 922338021654889.62,
"connections" : 2,
"proxy" : "",
"ip" : "2003:4d:ec4e:d164:6500:3784:58b5:2479",
"difficulty" : {
"proof-of-work" : 0.07,
"proof-of-stake" : 0.17
},
"testnet" : false,
"keypoololdest" : 1454015322,
"keypoolsize" : 101,
"paytxfee" : 10.00,
"mininput" : 0.00,
"errors" : ""
}


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CryptoWitch
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January 28, 2016, 09:40:41 PM
 #5

128 years pow, 1% premine - dev brilliant way to hide that huge premine.

I think you underestimate our intelligence here.

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January 28, 2016, 09:42:35 PM
 #6

At first I thought the coin supply was ridonkulous but considering you're only decimalizing it to 2 decimal places instead of 8, the max money is equivalent to a more reasonable 922 million (instead of 922 quadrillion which is just dumb).

Avast blocked my download of the Win64 binary, showing Drep as the infection. Careful.

Bitrated user: notsofast.

twitter.com/notsofast
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January 28, 2016, 09:45:30 PM
 #7

Windows installer is on homepage. But look in the source, seems quite scammy if you ask me

Antivir showed nothing here, but thx.


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DARCRUS
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    ● TRADE ● TELEGRAM   ● SLACK   ● TWITTER   ● BLOG
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            Trade on Bittrex
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January 28, 2016, 10:07:44 PM
 #8

VirusTotal scan

https://www.virustotal.com/en/file/37466f117f4923f9cc16aed8cfa363491060a0f09fb3c1bb140edb422c5e51b6/analysis/
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January 28, 2016, 10:12:55 PM
 #9

At first I thought the coin supply was ridonkulous but considering you're only decimalizing it to 2 decimal places instead of 8, the max money is equivalent to a more reasonable 922 million (instead of 922 quadrillion which is just dumb).

Avast blocked my download of the Win64 binary, showing Drep as the infection. Careful.

@notsofastcrypto

Thank you for pointing out the math from using 2 decimals instead of 8.

The original post was updated to clarify this aspect.

The scale difference from a standard 8 digits coin translates into the gift and referrals valuations that can be collected for the humans distributing the coins.

From https://valorbit.com

Gifts and referrals

Event                         | Gift       |    Valuation | Vesting
==============  ==========    ===========   ========

Facebook       
Basic account | Sapphire   |    5 000 VAL |   5 days
SMS verified  | Ruby       |  500 000 VAL | 100 days

For gifts collected by invited friends       
Referral      | Sapphire(N) |   10 000 VAL |   5 days
Referral      | Ruby(N)     |1 000 000 VAL | 100 days

 
Anoona
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January 28, 2016, 10:18:45 PM
 #10

Website not working, what happen?
valorbit
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January 28, 2016, 10:31:17 PM
 #11

128 years pow, 1% premine - dev brilliant way to hide that huge premine.

I think you underestimate our intelligence here.

@CryptoWitch

Your intelligence is excellent for starting this topic.

The role of the premine is to reward members that distribute the coin over social networks and by email.

I agree and it is well accepted that if the premine will not be distributed to members that is a problem.
However the goal here is to actually allow the members to distribute the premine to as many people as they wish and get referrals for doing so.

This is how this coin works in trying to reach as many people as possible.

The day the distribution of the premine stops the coin will fail, but the goal here is to give as many people as possible a crypto-coin.
Somehow Bitcoin stopped spreading at some point and now can be had only by paying $$$ or by expensive mining.

The amounts received for the gifts and referrals are meant to scale the distribution to a large number of people.

Time will tell how well this objective is achieved with this set of rules.



Gifts and referrals

Event         | Gift       |    Valuation | Vesting
==============  ==========    ===========   ========

Facebook      
SMS verified  | Ruby       |  500 000 VAL | 100 days

For gifts collected by invited friends      
Referral      | Ruby(N)     |1 000 000 VAL | 100 days


With regards.
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January 28, 2016, 11:48:45 PM
 #12

At first I thought the coin supply was ridonkulous but considering you're only decimalizing it to 2 decimal places instead of 8, the max money is equivalent to a more reasonable 922 million (instead of 922 quadrillion which is just dumb).

Avast blocked my download of the Win64 binary, showing Drep as the infection. Careful.

@notsofastcrypto

Thank you for pointing out the math from using 2 decimals instead of 8.

The original post was updated to clarify this aspect.

The scale difference from a standard 8 digits coin translates into the gift and referrals valuations that can be collected for the humans distributing the coins.

From https://valorbit.com

Gifts and referrals

Event                         | Gift       |    Valuation | Vesting
==============  ==========    ===========   ========

Facebook       
Basic account | Sapphire   |    5 000 VAL |   5 days
SMS verified  | Ruby       |  500 000 VAL | 100 days

For gifts collected by invited friends       
Referral      | Sapphire(N) |   10 000 VAL |   5 days
Referral      | Ruby(N)     |1 000 000 VAL | 100 days

 


LOL Funny that the "Dev" never addressed the Win64 infection!

You sir, have been CryptoCriticized; thanks for playing!
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January 29, 2016, 12:12:39 AM
 #13

At first I thought the coin supply was ridonkulous but considering you're only decimalizing it to 2 decimal places instead of 8, the max money is equivalent to a more reasonable 922 million (instead of 922 quadrillion which is just dumb).

Avast blocked my download of the Win64 binary, showing Drep as the infection. Careful.


LOL Funny that the "Dev" never addressed the Win64 infection!

You sir, have been CryptoCriticized; thanks for playing!
[/quote]

And it should be addressed.
A bit of CryptoCriticism is always healthy.

At this point the only way to go about this aspect is to understand what it means.

a. The Avast Drep is described here:
https://forum.avast.com/index.php?topic=163221.0
and I quote:

Quote from: HonzaZ on December 18, 2014, 04:28:10 PM
Hi,
DomainRep is a new feature of Avast, so let me explain a bit. It blocks EXE files downloads if these conditions are *all* met:
1. The file is not prevalent enough, ie. not enough Avast users launched the file yet,
2. The domain is not prevalent enough, ie. not enough Avast users downloaded (any) EXE files from the domain yet,
3. The file is not signed or Avast does not trust the signature.

Once one of these conditions are not met anymore, Avast will stop flagging the download. In other words, just wait until more people try to download the file, or digitally sign your files :-).
Honza

Isn't this a bit like the chicken and the egg (which came first) - how are you to download the file from the site if it hasn't met any of the conditions to build up a reputation of avast users.

The only way I can see this happening would be if the file was signed, otherwise the file and or domain name would remain blocked.

END Quote


As pointed out the best (only only?) mitigation would be to digitally sign it.
Currently only the Mac OSX is digitally signed.

So the take away homework is to get the Win binaries digitally signed asap :-)




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January 29, 2016, 12:27:07 AM
 #14

Hi dev, whats is the mature time for POS?
valorbit
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January 29, 2016, 12:53:13 AM
 #15

Hi dev, whats is the mature time for POS?

I've added this extra info of interest in the announcement above:

Block time= 4 minutes
Coinbase maturity = 250 blocks
Minimum PoS age = 8 hours
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XDE2, PAYS HUNDREDS OF DOLLARS A WEEK TO PROMOTERS


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January 29, 2016, 12:56:34 AM
 #16

At first I thought the coin supply was ridonkulous but considering you're only decimalizing it to 2 decimal places instead of 8, the max money is equivalent to a more reasonable 922 million (instead of 922 quadrillion which is just dumb).

Avast blocked my download of the Win64 binary, showing Drep as the infection. Careful.
I guess I am not to fast. I would think 1000 Val is 1000 Val whether there is 2 decimal places or 8 decimal places
Would that not mean that there is still 922 quadrillion with fractions over 2 decimal places funding distributions.

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January 29, 2016, 01:18:36 AM
 #17

Hi dev, whats is the mature time for POS?

I've added this extra info of interest in the announcement above:

Block time= 4 minutes
Coinbase maturity = 250 blocks
Minimum PoS age = 8 hours

Ok, thanks for the info.
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January 29, 2016, 02:07:45 AM
 #18

how do you send your VAL from the valorbit site to your personal wallet??


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valorbit
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January 29, 2016, 02:26:19 AM
 #19

how do you send your VAL from the valorbit site to your personal wallet??


A form was developed and will go online pending testing.

The list of Payees management form is already up at:
https://valorbit.com/pay_to_addresses

It can be access in the profile menu by clicking the user icon/name in the top right corner and clicking "Payees" in the vertical menu.

A stop-gap measure is to access your public/private key and cut-n-paste the private key into your clipboard
Dashboard --> "Received" section --> [ Key ] button

One can import it in command line or from the GUI using File --> Import .
As a side note a sweep Yes/No option is planned for that dialog.

I am wondering whether people would like to have the option to add to their profile an "external" public  address
where the system automatically moves the received valorbits from time to time.
As a convenience.

Thanks for the inquiry, this needs to go in an online tutorial.
valorbit
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January 29, 2016, 02:47:49 AM
 #20

At first I thought the coin supply was ridonkulous but considering you're only decimalizing it to 2 decimal places instead of 8, the max money is equivalent to a more reasonable 922 million (instead of 922 quadrillion which is just dumb).

Avast blocked my download of the Win64 binary, showing Drep as the infection. Careful.
I guess I am not to fast. I would think 1000 Val is 1000 Val whether there is 2 decimal places or 8 decimal places
Would that not mean that there is still 922 quadrillion with fractions over 2 decimal places funding distributions.


You are correct as far as VAL units.

However, as you probably already know, there are no fractional numbers really down there.

If we take the CENT granularity of a coin like say DOGE ( which is using 1 COIN = 100 000 000, 1 CENT = 100)
current supply in CENTS is actually :
102,858,918,330,000,000
 
Valorbit at CENTS granularity is similar with Doge, slightly less :
92 233 802 165 488 900

So that is why notsofast probably put it that way, as he was looking at it from the lowest granularity level.


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