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[Lauda]

I've mined 11 coins yesterday in 12 hours with 1.2MH/s. Difficulty was between 0.15-0.25.
Who knows is this coin piece of shit?

It's shit and a scam.

[datguyian]

So it landed on cryptsy last night, and so many users hate this coin so much and back lashed on bigvern that he removed it.... How you feeling, devs?  Decided to learn how to do math yet?

[Ll_lkasz]

Solution how to bring ORB to life is simple.
Let devs sends premine to the orbit (on some non existing address), gives here transaction ID to verify.
Back ORB on Cryptsy, start mining and axchange.

?

[cryptohunter]

just let it die as a lesson to future greedy devs that stupid premines like this are not a good idea.

[Ghepetto]

Orb was listed on cryptsy for a few minutes, price was 0.3 orb/btc which translates to a 30 million dollar bank for the developers, instantly from nothing. 


LAWL


Did Ben Bernanke come up with this coin?  Sure sounds like it.

[cryptohunter]

Orb was listed on cryptsy for a few minutes, price was 0.3 orb/btc which translates to a 30 million dollar bank for the developers, instantly from nothing. 


LAWL


Did Ben Bernanke come up with this coin?  Sure sounds like it.

what volume changed hands? hopefully not much

[iGotSpots]

Orb was listed on cryptsy for a few minutes, price was 0.3 orb/btc which translates to a 30 million dollar bank for the developers, instantly from nothing.  


LAWL


Did Ben Bernanke come up with this coin?  Sure sounds like it.

what volume changed hands? hopefully not much

Probably just the bribe from the devs to cryptsy...ZING

[datguyian]

Orb was listed on cryptsy for a few minutes, price was 0.3 orb/btc which translates to a 30 million dollar bank for the developers, instantly from nothing. 


LAWL


Did Ben Bernanke come up with this coin?  Sure sounds like it.

what volume changed hands? hopefully not much

Not much at all from what I saw.... You can't really say they had a 30 million dollar bank because there's no way in hell there will ever be that kind of demand for it.

[iGotSpots]

Orb was listed on cryptsy for a few minutes, price was 0.3 orb/btc which translates to a 30 million dollar bank for the developers, instantly from nothing. 


LAWL


Did Ben Bernanke come up with this coin?  Sure sounds like it.

what volume changed hands? hopefully not much

Not much at all from what I saw.... You can't really say they had a 30 million dollar bank because there's no way in hell there will ever be that kind of demand for it.

But dude...they have a SPACE PROGRAM!

[datguyian]

Orb was listed on cryptsy for a few minutes, price was 0.3 orb/btc which translates to a 30 million dollar bank for the developers, instantly from nothing. 


LAWL


Did Ben Bernanke come up with this coin?  Sure sounds like it.

what volume changed hands? hopefully not much

Not much at all from what I saw.... You can't really say they had a 30 million dollar bank because there's no way in hell there will ever be that kind of demand for it.

But dude...they have a SPACE PROGRAM!

Tin foil hats 'n everything...

[iGotSpots]

Orb was listed on cryptsy for a few minutes, price was 0.3 orb/btc which translates to a 30 million dollar bank for the developers, instantly from nothing. 


LAWL


Did Ben Bernanke come up with this coin?  Sure sounds like it.

what volume changed hands? hopefully not much

Not much at all from what I saw.... You can't really say they had a 30 million dollar bank because there's no way in hell there will ever be that kind of demand for it.

But dude...they have a SPACE PROGRAM!

Tin foil hats 'n everything...

No. Seriously. I saw this documentary on the history channel about the nazi bell anti gravity time traveling flying saucer. This coin is going to bring back the Führer

[Lauda]

Tin foil hats 'n everything...

No. Seriously. I saw this documentary on the history channel about the nazi bell anti gravity time traveling flying saucer. This coin is going to bring back the Führer

The Führer?

[GoldBit89]

Orb was listed on cryptsy for a few minutes, price was 0.3 orb/btc which translates to a 30 million dollar bank for the developers, instantly from nothing. 


LAWL


Did Ben Bernanke come up with this coin?  Sure sounds like it.

what volume changed hands? hopefully not much

Not much at all from what I saw.... You can't really say they had a 30 million dollar bank because there's no way in hell there will ever be that kind of demand for it.

But dude...they have a SPACE PROGRAM!

that hasnt had any updates since late 2011, and only 3 students for the school? Theres more teachers and such .

[bob131313]

FYI> ORB on coins-e: https://www.coins-e.com/exchange/ORB_BTC/
Time    Rate    Quantity (ORB)    Quantity (BTC)
02-Aug-13 14:47:18   0.00300000   1.99900000   0.00599700
02-Aug-13 14:38:04   0.00400000   1.00000000   0.00400000
02-Aug-13 12:33:21   0.00400000   3.00000000   0.01200000
02-Aug-13 12:21:30   0.00400000   2.00000000   0.00800000
02-Aug-13 12:21:29   0.00400000   2.00000000   0.00800000
02-Aug-13 12:21:28   0.00420000   4.00000000   0.01680000
02-Aug-13 12:21:28   0.00500000   6.92860400   0.03464302
02-Aug-13 11:57:47   0.00600000   5.00000000   0.03000000
02-Aug-13 11:20:51   0.00795000   1.26200000   0.01003290
02-Aug-13 11:05:21   0.00600000   1.76593100   0.01059559
02-Aug-13 11:04:28   0.00600000   1.00000000   0.00600000
02-Aug-13 11:01:12   0.00600000   2.23000000   0.01338000
02-Aug-13 10:59:48   0.00600000   2.00406900   0.01202441

[Ghepetto]

FYI> ORB on coins-e: https://www.coins-e.com/exchange/ORB_BTC/
Time    Rate    Quantity (ORB)    Quantity (BTC)
02-Aug-13 14:47:18   0.00300000   1.99900000   0.00599700
02-Aug-13 14:38:04   0.00400000   1.00000000   0.00400000
02-Aug-13 12:33:21   0.00400000   3.00000000   0.01200000
02-Aug-13 12:21:30   0.00400000   2.00000000   0.00800000
02-Aug-13 12:21:29   0.00400000   2.00000000   0.00800000
02-Aug-13 12:21:28   0.00420000   4.00000000   0.01680000
02-Aug-13 12:21:28   0.00500000   6.92860400   0.03464302
02-Aug-13 11:57:47   0.00600000   5.00000000   0.03000000
02-Aug-13 11:20:51   0.00795000   1.26200000   0.01003290
02-Aug-13 11:05:21   0.00600000   1.76593100   0.01059559
02-Aug-13 11:04:28   0.00600000   1.00000000   0.00600000
02-Aug-13 11:01:12   0.00600000   2.23000000   0.01338000
02-Aug-13 10:59:48   0.00600000   2.00406900   0.01202441

using these figures it's   300-790k  USD premine

[Lauda]

FYI> ORB on coins-e: https://www.coins-e.com/exchange/ORB_BTC/
Time    Rate    Quantity (ORB)    Quantity (BTC)
02-Aug-13 14:47:18   0.00300000   1.99900000   0.00599700
02-Aug-13 14:38:04   0.00400000   1.00000000   0.00400000
02-Aug-13 12:33:21   0.00400000   3.00000000   0.01200000
02-Aug-13 12:21:30   0.00400000   2.00000000   0.00800000
02-Aug-13 12:21:29   0.00400000   2.00000000   0.00800000
02-Aug-13 12:21:28   0.00420000   4.00000000   0.01680000
02-Aug-13 12:21:28   0.00500000   6.92860400   0.03464302
02-Aug-13 11:57:47   0.00600000   5.00000000   0.03000000
02-Aug-13 11:20:51   0.00795000   1.26200000   0.01003290
02-Aug-13 11:05:21   0.00600000   1.76593100   0.01059559
02-Aug-13 11:04:28   0.00600000   1.00000000   0.00600000
02-Aug-13 11:01:12   0.00600000   2.23000000   0.01338000
02-Aug-13 10:59:48   0.00600000   2.00406900   0.01202441

using these figures it's   300-790k  USD premine

Scamcoin from the begining.

[ajqjjj]

despite this currency goes against rise 

[redtwitz]

I can't decide if this is the worst scam coin ever or if you're just really bad at math.

COIN STATS
 
Orbitcoin [ORB]:
 
Max coin cap = 31,000,000 mined over the next 500 years,
1 million sit's in the foundation wallet from the start and can be seen here (odYLBLUg6xtR8jvKus3NyzhFERwKTtTCLi)
 
Before you call pre-mine you should note that this also adds to the security of the coin, meaning in the early stages nobody could mine/buy the amount of coins needed to even try and 51% attack this masterpiece.
 
Also the foundation has a goal of 5 million Orbitcoin to reach and will be actively BUYING from exchanges and miners in the early stages of Orbitcoin's life.

POW/POS Advanced Hybrid
 
0% POS reward, the proof of stake was only added for the extra security and nothing more,  
We believe the rich getting richer isn't what crypto currency is about,
but coins that can't be 51% attacked is!... (The first implementation of 0% reward POS)
 
Block Reward = 0.25 per block, halves yearly till 0.00000001 is reached then continues to be mined till the max coin cap on 31million is made.
30 Second Block Targets

With a 30 second block target, there will be 2 × 60 × 24 × 365 = 1,051,200 blocks per year.

The reward per block will have dropped to 0.00000001 ORB after 24 years, so 1,051,200 × 0.25 × 2 = 525,600 ORB will be minted in the first 25 years.

Since you've already pre-mined only 1,000,000 ORB, you have to wait until an additional 4,000,000 − 525,600 = 3,474,400 ORB have been minted to be able to reach your foundation's goal. At 0.00000001 ORB block reward, 1,051,200 × 0.00000001 = 0.010512 ORB will be minted each year, so this will take 3,474,400 ÷ 0.010512 = 330,517,504 = 330.5 million year if you buy all minted coins.

After 500 years, only 525,600 + (500 − 25) × 0.010512 = 525604.9932 ORB will have been mined. That means that 1,000,000 ÷ 1,525,604.9932 = 0.655477666 = 65.5 % of all ORB will come from the premine. It's also far off from the 30,000,000 ORB cap, which will be reached after (30,000,000 − 525,600) ÷ 0.010512 = 2,803,881,279 = 2.8 billion years...

[Lauda]

I can't decide if this is the worst scam coin ever or if you're just really bad at math.

With a 30 second block target, there will be 2 × 60 × 24 × 365 = 1,051,200 blocks per year.

The reward per block will have dropped to 0.00000001 ORB after 24 years, so 1,051,200 × 0.25 × 2 = 525,600 ORB will be minted in the first 25 years.

Since you've already pre-mined only 1,000,000 ORB, you have to wait until an additional 4,000,000 − 525,600 = 3,474,400 ORB to reach your foundation's goal. At 0.00000001 ORB block reward, 1,051,200 × 0.00000001 = 0.010512 ORB will be minted each year, so it will take 3,474,400 ÷ 0.010512 = 330,517,504 = 330.5 million years to reach your foundation's goal.

After 500 years, only 525,600 + (500 − 25) × 0.010512 = 525604.9932 ORB will have been mined. That means that 1,000,000 ÷ 1,525,604.9932 = 0.655477666 = 65.5 % of all ORB will come from the premine. It's also far off from the 30,000,000 ORB cap, which will be reached after (30,000,000 − 525,600) ÷ 0.010512 = 2,803,881,279 = 2.8 billion years...

Good job on the calculations. It's just a very bad scam.

[Stouse49]

I can't decide if this is the worst scam coin ever or if you're just really bad at math.

COIN STATS
 
Orbitcoin [ORB]:
 
Max coin cap = 31,000,000 mined over the next 500 years,
...
 
Block Reward = 0.25 per block, halves yearly till 0.00000001 is reached then continues to be mined till the max coin cap on 31million is made.
30 Second Block Targets

With a 30 second block target, there will be 2 × 60 × 24 × 365 = 1,051,200 blocks per year.

The reward per block will have dropped to 0.00000001 ORB after 24 years, so 1,051,200 × 0.25 × 2 = 525,600 ORB will be minted in the first 25 years.

Since you've already pre-mined only 1,000,000 ORB, you have to wait until an additional 4,000,000 − 525,600 = 3,474,400 ORB have been minted to be able to reach your foundation's goal. At 0.00000001 ORB block reward, 1,051,200 × 0.00000001 = 0.010512 ORB will be minted each year, so this will take 3,474,400 ÷ 0.010512 = 330,517,504 = 330.5 million year if you buy all minted coins.

After 500 years, only 525,600 + (500 − 25) × 0.010512 = 525604.9932 ORB will have been mined. That means that 1,000,000 ÷ 1,525,604.9932 = 0.655477666 = 65.5 % of all ORB will come from the premine. It's also far off from the 30,000,000 ORB cap, which will be reached after (30,000,000 − 525,600) ÷ 0.010512 = 2,803,881,279 = 2.8 billion years...

I must disagree with some of the math provided by redtwitz, as I think the long term prospects of this coin are "undefined."

Here is the code for the block reward.

Code:

// miner's coin base reward based on nBits
int64 GetProofOfWorkReward(int nHeight, int64 nFees, uint256 prevHash)
{
int64 nSubsidy = 0.25 * COIN;

if(nHeight < 11)	
{
nSubsidy = 100000 * COIN;
}

nSubsidy >>= (nHeight / 1051200);
    
    return nSubsidy + nFees;
}

The math provided by redtwitz is certainly right for the first 25 full years.  After that, the Block Reward will be zero (not 0.00000001).  The block reward is calculated by a right shift operation.  The default subsidy is 0.25, which is stored by the client as 25000000.  This happens to be a 25 bit number.  If you take a 25 bit number and right shift it by 25 bits (for 25 years), the result is zero.  Therefore after 25 years, no ORB will be added to the money supply.  The proof of stake is also 0% (no coins minted).

What gets really interesting is after 64 years.  The subsidy is stored as a 64 bit number.  The result of right shifting a 64 bit number by 64 bits is undefined.  The windows 8 calculator gives this result for such an operation: "Result not defined."  This could crash the program, or perhaps the result will be filled with garbage, which will be an arbitrarily large number (which will be larger than the MAX_MONEY).  Who knows what will happen.

This coin gets funnier and funnier the more one thinks about it.