[DBL] Doubloons: Pirate Currency

[waser12]

I read the forum and can't understand what it means pirate cryptocurrency? How is it different from any other ?

[1714944551]

1714944551

[Petr1fied]

some pirate threw alittle too much at it the other day  

Yeah I noticed lots of transactions being reversed between September 24th and October 2nd. Some Pirates seem to have been digging loot mined by other pirates earlier, leaving behind only empty chests. I guess pirates will be pirates.

I read the forum and can't understand what it means pirate cryptocurrency? How is it different from any other ?

The pirate thing is just a fun theme so currently it's not that much different from most cryptocurrencies that came before it or in the several years since. The one thing it did have going for it was a low coin cap at 8m coins overall and a fair start. It was traded on Cryptsy for a couple of years but has not been listed on any other exchange since Cryptsy collapsed. People such as myself and kelsey who have been holding on to coins for years want to reboot the coin, get it listed on an (or several) exchange(s) and encourage people to create services for the coin in exchange for bounties giving it an actual purpose and real world value.

Discussions are still ongoing but the current favourite option is to start fresh with a new Proof Of Stake based wallet, premine the 8 million total coins that DBL was supposed to generate before becoming solely transaction fee based (a landmark which we're currently less than 2 weeks from reaching on the current client although a bug will mean the old client will continue paying in full past this point). The premined coins on the new client would then be swapped 1:1 with those generated on the old client up to and including block 1,181,684 (8m DBL generated).

We are aware that a number of coins were lost when Cryptsy stopped processing withdrawals and ultimately collapsed. This in addition to people who may have lost private keys etc. means there will inevitably be an excess from the 8 million premine after any swap is completed. What we would like to do is use these excess coins to pay bounties for services. This is something we would like to put to a vote as part of any coin swap so for every whole DBL you own you get one vote for what to do with any excess the two choices would be:

1. Hold them for bounties.
2. Send them to a burn address to make them forever unspendable.

Of course in the event of the former being the most popular option no one person should have the power to spend these coins so multisignature approval will be required to spend these coins and as such we'll be looking to create a foundation to work for the betterment of the coin and vote on how best to allocate any excess coins. Membership on the foundation will require a sizeable portion of the members own personal holdings to be locked up with assurances they won't be traded. (They will however be permitted to stake these coins and do as they choose with their PoS interest). In doing this in cooperation with the fact owners will be gaining interest on the coins they hold in their own wallet we hope to mitigate any subsequent dumpage when the coin actually does get relisted on an exchange as people should be more likely to want to retain possession of their own coins.

It may also be advisable to rebrand the replacement coin as although DBL was the first to carry the name Doubloons it has recently been recycled in the unaffiliated BOAT and two coins carrying the same name (albeit with different tickers) would lead to unnecessary confusion.

What it boils down to is we want to try and get this coin back on it's feet and build a sustainable future, not just dump our holdings and move on.

[rav3n_pl]

@rav3n_pl as the resident guardian of the github repository do you have a plan for how to deal with this? As the entire network consists of a literal handful of people right now it shouldn't be too difficult to hard fork especially as the few currently mining probably won't want to see their own holdings devalued ninefold if we sit back and do nothing. Not sure what the best plan of action is myself as I haven't been following evolution of cryptocurrencies for the last 2 years. Based upon my knowledge a couple of years back I would have suggested POS (Proof Of Stake) post block 1,181,683 (8 million coins generated point) as it's very low effort mining and anyone staking will find their coins increase in line with the overall inflation just by holding on to them and unlocking their wallet to allow their coins to stake every so often. I'm not sure what other alternatives have come about in the last couple of years though.

It (change reward system) require a hardfork. It is doable.
It is possible to change LTC v0.14 code into working DBL, but need to be chosen block in near future to allow blocks v3 and v4 and it will start voting for segwit.
So miners NEED to use new version as soon it will be released, or network will split.
Also, new versions will have trouble to accept transactions generated by older code (because of strict-DER-signing).
I`m not a fan of PoS, it is mostly killing coin and only make coin rich ppl richer. Also I have zero experience in coding it.

[davidspitzer]

some pirate threw alittle too much at it the other day  

Yeah I noticed lots of transactions being reversed between September 24th and October 2nd. Some Pirates seem to have been digging loot mined by other pirates earlier, leaving behind only empty chests. I guess pirates will be pirates.

I read the forum and can't understand what it means pirate cryptocurrency? How is it different from any other ?

The pirate thing is just a fun theme so currently it's not that much different from most cryptocurrencies that came before it or in the several years since. The one thing it did have going for it was a low coin cap at 8m coins overall and a fair start. It was traded on Cryptsy for a couple of years but has not been listed on any other exchange since Cryptsy collapsed. People such as myself and kelsey who have been holding on to coins for years want to reboot the coin, get it listed on an (or several) exchange(s) and encourage people to create services for the coin in exchange for bounties giving it an actual purpose and real world value.

Discussions are still ongoing but the current favourite option is to start fresh with a new Proof Of Stake based wallet, premine the 8 million total coins that DBL was supposed to generate before becoming solely transaction fee based (a landmark which we're currently less than 2 weeks from reaching on the current client although a bug will mean the old client will continue paying in full past this point). The premined coins on the new client would then be swapped 1:1 with those generated on the old client up to and including block 1,181,684 (8m DBL generated).

We are aware that a number of coins were lost when Cryptsy stopped processing withdrawals and ultimately collapsed. This in addition to people who may have lost private keys etc. means there will inevitably be an excess from the 8 million premine after any swap is completed. What we would like to do is use these excess coins to pay bounties for services. This is something we would like to put to a vote as part of any coin swap so for every whole DBL you own you get one vote for what to do with any excess the two choices would be:

1. Hold them for bounties.
2. Send them to a burn address to make them forever unspendable.

Of course in the event of the former being the most popular option no one person should have the power to spend these coins so multisignature approval will be required to spend these coins and as such we'll be looking to create a foundation to work for the betterment of the coin and vote on how best to allocate any excess coins. Membership on the foundation will require a sizeable portion of the members own personal holdings to be locked up with assurances they won't be traded. (They will however be permitted to stake these coins and do as they choose with their PoS interest). In doing this in cooperation with the fact owners will be gaining interest on the coins they hold in their own wallet we hope to mitigate any subsequent dumpage when the coin actually does get relisted on an exchange as people should be more likely to want to retain possession of their own coins.

It may also be advisable to rebrand the replacement coin as although DBL was the first to carry the name Doubloons it has recently been recycled in the unaffiliated BOAT and two coins carrying the same name (albeit with different tickers) would lead to unnecessary confusion.

What it boils down to is we want to try and get this coin back on it's feet and build a sustainable future, not just dump our holdings and move on.

If I understand well the pirat coin was flibustered in fun mode and now looking for beeter way?)

The pirates are the best enterpreneurs, so good luck!

[kelsey]

I`m not a fan of PoS, it is mostly killing coin and only make coin rich ppl richer.

and how is that different from POW? still the rich getting richer?

once you could exchange BTC for fiat then it becomes just as fair as fiat (ie rich in fiat can become rich in crypto).

[Petr1fied]

I`m not a fan of PoS, it is mostly killing coin and only make coin rich ppl richer. Also I have zero experience in coding it.

That really comes down to the percentages more than anything. Anyway just sent you a PM. I'd really like to discuss options with you in real time.

[kelsey]

The pirates are the best enterpreneurs, so good luck!

we might just be keeping to the code 

[rav3n_pl]

"It would be not good for DBL investors believing in 8M coin limit"

Yarrrr!

[Petr1fied]

Yarrr!

'twould be a fine idea t' stop searchin' fer buried booty when 8 million Doubloons* be found. Unless ye enjoy diggin' fer fool's gold o' course. Thar's not much time remainin' t' grab th' last o' th' buried booty afore new booty huntin' rules need t' be applied.

* Approximately 4 days from now.

[kelsey]

aye aye captains.....so long landlubber  ...we be untyin the moorings, hoistenin thy sails.....we is bout to set sail to uncharted waters 

[Petr1fied]

Good morrow seadogs,

A little over 1 hour ago all pirate ships arrived safely back at port with 8 million Doubloons amongst their respective holds.

Due to errors in the original Doubloons client being at odds with what was originally defined in the first post (8 million coins or 5 years, whichever comes first) I can now announce that the future will lie not in a coin swap but a fork from the original client along with a rebrand to ensure no confusion with Doubloon [BOAT]. Although we had the name first we want to avoid confusion for when we take action to get this listed on exchanges in the future. We do have a suitable piratey replacement lined up so don't be afeared we'll be heading too far from our piratey roots.

Under the new fork will be honouring every block up until 1,181,684, this was the first past the post on this block and my client (which outputs to the block crawler) was set to shut down within 1 minute of reaching it. It is now rebooted but with "maxconnections" set to 0 so it will not connect to any other clients. The block crawler will remain online for reference.

What I can announce about the reboot is that the specs, as per rav3n_pl's hint above will produce further coins over it's lifetime, in order to push transactions and secure the network on the rebooted coin we cannot go feeless from the get go. The coin will start with block 1,181,684 and an opening balance of the 8,000,000.68 coins already mined. This block will be checkpointed and all old client versions will be blacklisted in the fork to ensure everyone is on the same track going forward.

We will be starting the fork with a reward 1/4 of what was achievable from Doubloons (1.6925 coins). This will then half every 1,181,684 blocks (approximately 2 years & 3 months) finally reaching a little under 12 million coins in total.

The new client will be worked on by our resident coder rav3n_pl but we can't give an estimate on the timeline just yet as he is planning on updating the client to be based upon Litecoin v0.14 but doing so in his spare time. This may take some time to complete so please be patient, the future for pirates hoarding their Doubloons will be bright I can assure you. We have lofty plans beyond a reboot & initial exchange listing which will be revealed in due course.

If you've not already stopped mining Doubloons I advise you do so now. There will be nothing further to gain from mining it at this point. We'll post further information when we're ready to proceed with the new forked coin.

Edit, almost forgot: Yarrrrr!

[Petr1fied]

Hi guys, just booted up a secondary client and it seems some of you are still mining (currently over 500 mhash/s).

Please note that any mined blocks above 1,181,684 (reached two days ago) will end up being reversed when we move to the new forked coin so I'd advise you either shut down your GPUs or or point them at some other coin. You're only wasting money by continuing to mine beyond the aforementioned block.

[QQ6693606]

any news?

[kelsey]

any news?

sorry for no updates, everyones still working hard in the background, this will be done the right way 

[bitfawkes]

Hello DOUBLOON team,

I'm happy to announce that your coin has been listed to ItalYiiMP 2.0 for mining,

to get paid in BOAT just set c=BOAT as password in your configuration.

visit italyiimp.com.

best regards.

bitfawkes

[stablesmirk]

Do you have pre-ICO?

[Petr1fied]

Hello DOUBLOON team,

I'm happy to announce that your coin has been listed to ItalYiiMP 2.0 for mining,

to get paid in BOAT just set c=BOAT as password in your configuration.

visit italyiimp.com.

best regards.

bitfawkes

Wrong coin, BOAT is that way.

Do you have pre-ICO?

There's no ICO as the coin will not be starting fresh, it will be forking from the point at which 8 million coins (the original intended amount of coins) were generated leaving everyone's DBL balances in tact under the new entity with the changes I laid out above.

The initial 8 million coins are already out in the wild, either by people mining them over the last 4 years or purchasing them during the time it was listed on Cryptsy (2013-2015) so we can't do anything with them, they belong to their respective owners and will continue to do so when we fork.* That being said myself and kelsey are planning on donating a decent sum of our own personal coins for bounties and general giveaways once we relaunch.

As you can see from the post I quoted above people reuse names of other established coins so we don't want to make our planned rebranded name/ticker public just yet in case someone else comes along and copies it before we're ready to go. Once we have a client in place (this may take some time as rav3n_pl is planning on updating to a much newer codebase and is working around other commitments) we'll be more forthcoming with our plans for the future.

* Just in case you're thinking "why can't I just buy some coins off someone in a private transaction now?" you need to know that any transaction made on the old client at this point will simply not exist on the reboot because we've already passed the block number we're going to fork from. As such your transaction will not exist when we relaunch, you may get lucky and their client (should they update it) may attempt a resend at that time but it's not worth the risk. They could just as easily delete their block data, redownload and then create a new wallet and import the private key in which case there will be no record of the transaction ever taking place. We'd hate to see people getting scammed so please wait for the new wallet.

[Starxoff]

Almost a month has passed, the pirates begin to get nervous. 

Are there any news?

[kelsey]

Almost a month has passed, the pirates begin to get nervous. 

Are there any news?

why be nervous? tis nothing to lose on this venture, tis not like anyone could panic sell as tis not listed on any exchange 

[ffirriff]

iirrrr mate y boys thinkning its time r  to draw up the treasure map place the X at the bottom of Davey jones locker