Announcing Bitcoin Ore - Bitcoin made fairer, faster and greener

[bitcoinore.org]

Bitcoin Ore (BCO) is a less wasteful, more environmentally friendly and more egalitarian version of Bitcoin. Bitcoin Ore is based on Proof of Capacity (POC), rather than the wasteful Proof of Work (POW), and will inherit all of Bitcoin’s transaction history. We believe Bitcoin Ore is the best way of making Bitcoin fairer, faster and greener.

The Bitcoin network now consumes more than 18 billion kWh annually and this is constantly growing – vast amounts of energy are continually wasted solely for the purpose of sustaining it. To put this into context, if Bitcoin was a country it would rank 71st in terms of energy consumption, surpassing Iceland, Lebanon and Slovenia. Every Bitcoin transaction consumes roughly 175 kWh (approximately $17.5). In Ethiopia, the average availability of electricity is 65 kWh per capita per year. This transaction cost is 10 thousand times that of the Visa network.

Bitcoin is also very susceptible to ASICs, the expensive specialized hardware that has moved mining away from ordinary people and away from the original aim of decentralization. This has placed the majority of mining power in the hands of a select few.

Therefore, we think it’s time for a new direction. Bitcoin Ore is true to Satoshi Nakamoto’s vision of a cryptocurrency that is accessible to all, governed by all, and that works for all.

Website

www.bitcoinore.org

Features

  *Low-cost, environmentally friendly POC system that takes the advantage away from expensive ASICs.

  *Proof of Capacity technology makes mining accessible to all.

  *Returns to Satoshi Nakamoto's original ideal of a decentralized cryptocurrency that anyone can participate in.

  *Support for large block sizes and zero-knowledge proof

Timeline and Key Information

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Dec. 25th 2017

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Fork to take place at a block height of 500666 (to be confirmed).

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Jan. 10th 2018

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Bitcoin Ore Wallet will be released and the network will go online.

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Feb. 25th 2018

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Proof of Capacity consensus mechanism to go online, shifting Bitcoin mining from POW to POC.

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Sep. 8th 2018

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Zero-knowledge proofs added.

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Dec. 8th 2018

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Dynamic checkpoint protection removed.

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Bitcoin Ore fork rules

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1BTC:1BCO 1 BTC:1 BCO Fork at block height 500666, owners of BTC at the time get equivalent number of BCO. Total supply 21,000,000.

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Mining method

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Proof of Capacity (POC)

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Technical parameters (TBC)

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Block size: 8MB Block generation rate: 5 minutes Difficulty adjustment: 2 weeks Replay attack: 2-way protection

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Volunteer benefits

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After the snapshot, the temporary client will generate 16800 blocks. These will ensure circulation, and after this, the client will freeze and will not produce any further blocks. The income from these 16800 blocks goes into a fund to reward the early developers, to invest in further development, and for the upkeep of the fund. This is considered a voluntary donation from community volunteers (miners). Those who do not wish to support Bitcoin Ore in this way should refrain from mining. After this phase, the regular wallet will go online and mining will change to POC.

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[bitcoinore]

Announcing a new fork schedule for Bitcoin Ore

As previously announced, the main chain for Bitcoin Ore’s groundbreaking Proof of Capacity mining system will come into operation on January 28th 2018. From this date, mining will once again be open to all.

Taking into consideration the requirements exchanges have regarding the operational stability of the main chain, we have decided to wait for the main chain to become fully stable before initiating the fork. In addition, we will carefully consider which technology to use as the basis of Bitcoin Ore. In addition to classic Bitcoin we are also looking at United Bitcoin (UBTC), which is a strong alternative. We plan to announce full details of which solution we will use and the exact time of forking approximately one week before the January 28th scheduled fork.
 
As of December 30th, we had agreements with zb.com, aex.com, exx.com, and lbank.info regarding the issuing of Bitcoin Ore at the fork. In order to fulfil these agreements, the Bitcoin Ore main chain will issue Bitcoin Ore to users of these four exchanges at block height of 501949. Bitcoin Ore will be issued at a ratio of 1:1 for those holding Bitcoin at that time (excluding the overlap between now and January 28th)

We’d like to thank you all for your support of Bitcoin Ore so far. We are only at the beginning of our mission to make Bitcoin mining available to all again, and we are certain that Proof of Capacity is the future and will replace Proof of Work in time. We look forward to your continued support and the birth of a better Bitcoin!    

Bitcoin Ore Team
2017/12/31 13:52 GMT (Bitcoin Block Height at 501892)

[Monodont]

I see what you did there

Bitcoin Core, without the C of carbon.

But won't proof of storage capacity simply move the playing field to buying and producing more hard disks?

[n1que]

After the snapshot, the temporary client will generate 16800 blocks. These will ensure circulation, and after this, the client will freeze and will not produce any further blocks. The income from these 16800 blocks goes into a fund to reward the early developers, to invest in further development, and for the upkeep of the fund. This is considered a voluntary donation from community volunteers (miners). Those who do not wish to support Bitcoin Ore in this way should refrain from mining. After this phase, the regular wallet will go online and mining will change to POC.

can you please explain further?
I dont understand this part: " ..  income from these 16800 blocks goes into a fund to reward the early developers"

how many these income from 16800 blocks?

[Iuliu]

Jan. 15th 2018  Bitcoin Ore Wallet will be temporarily released. ------ on website

Jan. 10th 2018   ║   Bitcoin Ore Wallet will be released and the network will go online.   ----- on bitcointalk.

So will be released in 10th or 15th ?

[Jayjay04]

Automatic multiple Faucets for free coins, almost every bitcoin fork supported !

[xl719d4]

I'm interested in "mining."  How can I join in on PoC?  Thanks

[svetlim]

What about wallet ?

Today is 12.Feb.2018 can't find wallet.

Code:

Jan. 15th 2018  Bitcoin Ore Wallet will be temporarily released.  ---  on website

Jan. 10th 2018   ║   Bitcoin Ore Wallet will be released and the network will go online.  ---  on bitcointalk.

regards Svetli

[cyrixboy]

Any news ? All very quiet..

[svetlim]

Nothing new.
Many wait for wallet. But no info from Bitcoin Ore developers.

[raywolf1]

Automatic multiple Faucets for free coins, almost every bitcoin fork supported !

oh well,legendry member doing this kind of scam.

[bustedsynx]

First time here. 

Hoping to get coins from the fork. Looks dead, huh? Too bad. I guess the fork hype has died down along with the major correction of Bitcoin. Bitcoin Cash is the real Bitcoin, LOL just kidding.

[Guido72]

The idea looked promising. Too bad project is dead 

[eulenstein]

PoW will die... first there was burst... now bitcoinOre... chia coin is announced...
investing in Disk Drive space seems to be a good idea