----------[DBIT] DollarBit----Bitcoin 3.0--------Proof-of-Q--------

[DollarBit]

Why call Bitcoin 3.0 ?

From our website:

"Bitcoin is a genius creation, but one that requires major improvements. The DollarBit CryptoBank is precisely what implements the original ideas of Bitcoin, but with a modern twist. For example, the idea of participation, the involvement of the maximum number of enthusiasts, was implemented in the Bitcoin network, but the motivating factor of a reward has diminished over time, requiring to change the model of economic incentives, making it more flexible. In the DollarBit system, the size of the reward remains constant, but is dependent on the level of Qp, motivating the participants to participate in the network more. This solution allows us to maintain the reward structure as created by Bitcoin, but embodying it in a much more flexible way. The creators of Bitcoin are undoubtedly geniuses, but when creating Bitcoin, the econometrics became the weakest aspect of the new economic reality, essentially being the reason for the instability of Bitcoin. The Bitcoin system has a fixed block size, the reason behind it is obvious, but limited block size led to the queuing of the network transactions in mempools and further destabilization. The DollarBit network solves this issue by relying on the Participation Coefficient of the system. In this a case, the size of the block is dynamically adjusted depending on the intensity of network participants’ actions and activity."


/thx/

#it_franklin

[DollarBit]

on what characteristics bitcoin 3.0 will be better? and how soon will this happen? there is no information on the website

DollarBit whitepaper is now available on our website, www.dollarbit.org/white-paper

And you can take a look at this page www.dollarbit.org/faq for more info about the project

As to why we call DollarBit Bitcoin 3.0, here is an answer from our website:

"Bitcoin is a genius creation, but one that requires major improvements. The DollarBit CryptoBank is precisely what implements the original ideas of Bitcoin, but with a modern twist. For example, the idea of participation, the involvement of the maximum number of enthusiasts, was implemented in the Bitcoin network, but the motivating factor of a reward has diminished over time, requiring to change the model of economic incentives, making it more flexible. In the DollarBit system, the size of the reward remains constant, but is dependent on the level of Qp, motivating the participants to participate in the network more. This solution allows us to maintain the reward structure as created by Bitcoin, but embodying it in a much more flexible way. The creators of Bitcoin are undoubtedly geniuses, but when creating Bitcoin, the econometrics became the weakest aspect of the new economic reality, essentially being the reason for the instability of Bitcoin. The Bitcoin system has a fixed block size, the reason behind it is obvious, but limited block size led to the queuing of the network transactions in mempools and further destabilization. The DollarBit network solves this issue by relying on the Participation Coefficient of the system. In this a case, the size of the block is dynamically adjusted depending on the intensity of network participants’ actions and activity."

/thx/

#it_franklin

[DollarBit]

Would've been nice if you provided more info

Visit these pages from our website for more information about DollarBit

Whitepaper: www.dollarbit.org/white-paper

FAQ:www.dollarbit.org/faq

/thx/

#it_jefferson

[DollarBit]

please provide more information about dollarbit

Visit these pages from our website for more info

Whitepaper: www.dollarbit.org/white-paper

FAQ:www.dollarbit.org/faq

/thx/

#it_jefferson

[DollarBit]

Would've been nice if you provided more info

Visit these pages from our website for more information about DollarBit

Whitepaper: www.dollarbit.org/white-paper

FAQ:www.dollarbit.org/faq

/thx/

#it_jefferson

[MorettiDV]

Can't wait :O 

[DollarBit]

Can't wait :O 

Thank you! Visit www.dollarbit.org and subscribe to our mailing list to keep updated on the latest from DollarBit.

/thx/

#it_jefferson

[bkprime]

when it will launch ?
any date ?

[DollarBit]

when it will launch ?
any date ?

The final version of the roadmap will be presented tomorrow. Subscribe to our mailing list on our website www.dollarbit.org so you do not miss anything.

/thx/

#it_jefferson

[DollarBit]

coming soon .......lol , 3.0 , 4.0 , 5.0 

3.0 is to signify that DollarBit is the third generation of cryptocurrency. If Bitcoin was 1.0, then the DollarBit is 3.0 because of the technological and ideological advantages of DollarBit over Bitcoin.
/thx/
#it_franklin

[DollarBit]

on what characteristics bitcoin 3.0 will be better? and how soon will this happen? there is no information on the website

Bitcoin is a genius creation, but because it was the first, it has several deficiencies, one of which is the erroneous outlook on the role of transactions in the function of the blockchain. DollarBit present a new paradigm of prioritizing storage and mining over the transactions. In addition, we add a new method of stabilizing the network and incentivizing the user to maintain participation—the Participation Coefficient(Qp). Qp is a metric that tracks participation and affects the rewards and fees of the users.
/thx/
#it_hamilton

[DollarBit]

Questions from Newsletter Subscribers:

What is Participation Coefficient?

The Participation Coefficient (Qp) is the key differentiating factor between PoQ and other algorithms. There is nothing wrong with the core idea of PoW, and PoQ is similar in principle, but Qp makes the algorithm much more advanced. One can think of Qp as a score system that determines the reputation or a rating (Credit Score) of your CryptoBank. One of the metrics used for the calculation of the Qp is the time spent mining. This is a return to one of the original Bitcoin principles – blockchain mining. Because the Qp is not reliant on wealth or computational power, but one the one true constant – time, PoQ is more egalitarian that other algorithms.
More information on the Participation Coefficient can be found in the DollarBit white paper www.dollarbit.org/white-paper.
/thx/
#it_hamilton

[DollarBit]

Questions from Newsletter Subscribers:


Calculating Fees

Fees are universally hated, but they are necessary. We want to keep the fees low, but make them dependent on the Qp at the same time. Users with a high Qp will enjoy the benefits of lower transactions, while users with a low Qp will have to bear increased costs. This change is necessary as to not create discrimination, where the miners would only take transactions either with low or high Qp. This way, all transactions will be processed, and miners will either create high Qp blocks or earn more from processing low Qp transactions. The idea is to create a balanced system that would nonetheless motivate everyone to improve their Qp and maintain a high one.

/thx/
#it_hamilton

[iamwhitewave]

I have checked the website. I could not find the road map.

[DollarBit]

please provide more information about dollarbit

let me start
1. Difference between Bitcoin and DollarBit

There are several differences between Bitcoin and DollarBit. For once, the underlying technology is different—Bitcoin uses Bitcoin Core and DollarBit is built on CryptNote. Perhaps, the biggest difference is ideological. Bitcoin was envisioned as electronic cash capable of functioning outside of government intervention and conventional channels and designed to replace the traditional currency. DollarBit does not aim to replace other cryptocurrencies or currency, but to supplement them. This comes from a change in the paradigm: DollarBit prioritized storage and mining over transactions, unlike Bitcoin and other cryptocurrencies.

/thx/

#it_hamilton

[DollarBit]

I have checked the website. I could not find the road map.

tonight

/thx/
#it_hamilton

[One Million]

Fake ass name - just the name itself makes me not want to invest.

It's like saying here is a new currency: DollarEuro -.-

[DollarBit]

Fake ass name - just the name itself makes me not want to invest.

It's like saying here is a new currency: DollarEuro -.-

We are not forcing anyone to invest--you can always participate in mining. We are just here to share more information about the project. DollarBit is the American Bitcoin and calling it DollarEuro or EuroBit would be more fake.

/thx/

#it_jefferson

[Durr_1412]

Why so many project of this kind created?
If version 3.0 come out, version 4.0, 5.0, etc. will follow coming out.
And I don't see any special of this kind of project.
Download a wallet => "swiss bank"   a lot of coin has their own wallet, and user all has their swiss bank, what is the reason of this project?

[DollarBit]

If version 3.0 come out, version 4.0, 5.0, etc. will follow coming out.

When we call DollarBit Bitcoin 3.0, we say that DollarBit is the new iteration of Bitcoin that takes into account the latest technological advancement. If versions 4.0, 5.0, etc come out later, then it's all the better for the cryptocurrency community. Improvement, development, advancement, are always better than regressions, stagnation, orthodoxy, and are necessary for the long-term.

/thx/
#it_franklin