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[bee_irl]

jimlite: what would have been the issue with leaving the block multiplier of 10,000 in effect? What's the difference between having 1 billion and 10 trillion coins in circulation? In the end it's just a movement of the decimal place. DOGE would have been successful with 100 trillion instead of 100 billion coins. It is meaningless.

Like I said it is a moot point, but I'm curious, why do you think they needed to take action at all? I've convinced myself that moving the decimal place would have been the most fair and least destructive solution and wouldn't have required a hard fork like the actual solution or your first two proposals.

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[nonny12]

While I believe this team has vast experience in coding, web design, marketing, and even crypto, I still think they made an honest mistake, but it needed to be immediately fixed in one of 3 ways.

1)As soon as the 10k/block error was found immediately re-launch genesis block and restart.
2)As soon as the 10k/block error was found, leave it that way with block rewards set to reduce far more aggressively over the mining lifespan.
3)See my previous posted solution.

The fact is now after a couple weeks of mining, it is too late for options 1 or 2, so again look into option 3, which is the only viable solution and way to make everyone happy and a win-win for the coin, dev team, and miners.

Option 3 then just makes you the large holder... How does that solve anything?

[jimlite]

Well if they just left it at 10k coins/block then they would produce about 20 times more coins per block then they wanted to. It would also make the coin supply enormous. The problem with that is like you said, DOGE coin is just fine, but at times it wasn't and may not be again. When DOGE was at like 12 satoshi it was a real problem. If a coin goes to 1 satoshi it is basically dead and then trades only on select markets against LTC, and you don't want your coin valued in liteoshis.

To the other poster, I agree with you, and NO, I do not want to buy the entire million of instamined coins and have them all in my hands, even though I work with teams and hodl long term, sometimes sell them back to dev team, and sometimes sell them slowly where they will make no impact in the market. I also buy if the market is going down. My point is I want these 1M coins to NOT be in the hands of unknown and most likely dumpers. I would prefer to have some members of the team, notsofast, and myself all buy a portion of those coins, because I know all of us would not be dumpers and that will protect the initial price of the coin on exchanges so that it has a chance to make it past a few months or year to the point that those coins get diluted and don't make up the majority of circulating coins anymore. When they are a small minority of the circulating coins, then they are not a threat to the price anymore, but that takes a lot of mining time. Someone needs to protect the coin metrics in the beginning or this coin will fail, and myself and notsofast know this and have been thru it many times. I don't want to buy all of them, and I would guess he doesn't either. But between both of us and hopefully a few people from the team stepping up to buy them back we could have some stability at exchange launch rather than having an albatross hanging over every small miners heads.

[nonny12]

While I don't doubt that your intentions are good, jimlite, to me your offer just sounds like "sell me your coins for cheap." I welcome this discussion of reconciling the error with the 10,000 coin blocks at the beginning. This problem could taint this project, even with the great idea.

[jimlite]

I'm just offering a solution I have done in the past a few times and it worked out well for everyone. I don't really need to buy the coins or really want to. The best plan would be for the dev team to buy them and burn them, but that probably won't happen. Second best case is dev team buys them and uses them for constructive things or hodls them. Third best case is if someone like myself or notsofast buys some of them. They need to be gotten out of the hands of the instaminers that basically got them for free and have no cost basis, therefore can and will just dump them for whatever they can get at the first exchange and destroy the price and any reason for anyone to mine this coin, which would be sad.

[smartcrypto]

I'm just offering a solution I have done in the past a few times and it worked out well for everyone. I don't really need to buy the coins or really want to. The best plan would be for the dev team to buy them and burn them, but that probably won't happen. Second best case is dev team buys them and uses them for constructive things or hodls them. Third best case is if someone like myself or notsofast buys some of them. They need to be gotten out of the hands of the instaminers that basically got them for free and have no cost basis, therefore can and will just dump them for whatever they can get at the first exchange and destroy the price and any reason for anyone to mine this coin, which would be sad.

This is what I have been trying to say but "some" people here were hellbent on defending the instamine. Thank you very much. This project could potentially fail, loss to the developers for developing a great project, loss for potential investors/traders. And the miners mining difficult coins. Something has to be done to restore the faith in this project. I really like this project amid all the chaos in crypto and I want to invest here. And I propose some things.

a. The developer buys the coins from the people. But the thing is the instaminers would rather wait until the coin hits an exchange. Which makes it hard for anybody to get the coins from instaminers.
b. The developer forks it again and set the block reward reasonably high again not necessarily 10k, but to take the control from early miners. nearly 2 weeks of wasted hashing power. But worth it to make sure the people have better distribution/price in the future.
c. The coin is relaunched. Which at this point is impossible.

[smaram]

Hello, On January 31, 2018, due to the 10K bug/mistake, 16 million IPBCs were floated, with about 300-400 miners and 3-5MH/s, which equates to 1.6% of total supply 1billion.

After consultation with all minern we know and trust, we hold about 4 million IPBC which will not be sold on 21.2.2018.

We explained in BTC forum why we did not reset the blockchain.

We would buy all the coins at the price of 125Satoshi on OTC but also at the exchange Livecoin. OPTC sellers contact us at hello@ipbc.io

That's why the price of IPBC should not fall below 0.01USD.

[smaram]

INFO: We found at the Play Store a IPBC Mining App, https://play.google.com/store/apps/details?id=com.infopedia.ipbccoinminer  please be aware that it is not a OFFICIAL IPBC App.

[pinball_wizard]

Hello, On January 31, 2018, due to the 10K bug/mistake, 16 million IPBCs were floated, with about 300-400 miners and 3-5MH/s, which equates to 1.6% of total supply 1billion.

After consultation with all minern we know and trust, we hold about 4 million IPBC which will not be sold on 21.2.2018.

We explained in BTC forum why we did not reset the blockchain.

We would buy all the coins at the price of 125Satoshi on OTC but also at the exchange Livecoin. OPTC sellers contact us at hello@ipbc.io

That's why the price of IPBC should not fall below 0.01USD.

Sure the bug was an "honest" bug. Everybody in this project from big miners to small like me believe that this could be a great coin: working product and nice idea are real a huge plus in this world of vaporware ICO with no sense. So all of us want that the success of this project, for us and for devs is not in the hand of some unknown miners who got unfair quantity of coins. The solution of buying could be the only one now....we all hope this lead to success!

[BitWhat]

Stop complaining you whiny bunch!! See it as rewards for the early miners...you know the guys that actually supported the network in the beginning. U missed out...now move on!

[jimlite]

People aren't being whiny that they missed out. The coin metrics are HORRIBLE right now. What don't you understand? There are 16 MILLION coins in circulation now, dev team says they have 4 Million. That means there are 12 MILLION coins in the hands of early instaminers. WAY WAY WAY WAY WAY MORE than there should be. There shouldn't even be 4 Million coins in the entire float right now and there is over 4X that. So you basically have 75% of the float in the hands of instaminers that paid virtually nothing to mine those coins. And the problem is NOW there will be no new miners (unless they are really dumb) because those original 16M coins cost about $0.00001 cents to mine and right now it would cost about $0.10 to mine a single coin. That is a MASSIVE difference and completely destroys the coins metrics permanantly. The more I think about it, the ONLY solution is for the dev team to seek out these rich list early instaminers, buy their coins, and publicly burn them. I have coached dozens of teams on this exact same problem over the last 5 years and have done PR/marketing for coin teams. And I will tell you right now this will be a PR nightmare and end very badly for this coin if the devs don't take care of this problem immediately. Waiting for the dumping on the exchange is a bad idea and won't work. Some whale will just buy the cheap coins and the dev team won't be able to. Then these whales have full control over the coin instead of the mass public and dev team.

DEV TEAM-For the love of God, if you don't want your coin to fail (and you've spent a year on this), you must buy those coins back and burn the extra coins produced over what should have been produced. And I have also consulted with Bittrex over the years, and I can tell you that they also will not list your coin with this blunder. I have had to have devs send instamined coins to Bittrex to be burned by them before they would even consider listing the coin. Please contact me if you would like my services in helping resolve this problem.

To everyone saying I am just complaining-Obviously you DON'T understand crypto coin metrics, don't know my reputation and work I have done on problems with projects just like this, or you are an early instaminer that understandably wants to keep all those coins and hope that it fetches a high price on the exchange. But you are wrong because it won't, and it will only severely damage the short and long term viability of this coin's price and project.

I am done trying to help save this coin from sure death or sub 100 sat graveyard. I will not mine, buy, or promote this coin unless the dev/team agree with my analysis and hire me to help them fix the coin metrics and PR nightmare.

[air133]

Question about % of emmisions.
https://ipbc.minez.ro/explore/
on explore % emissions is 0.0204%

But 20 443 000 from 1 000 000 000 = 2.04%
or emmision is 100 000 000 000

[visax]

Indonesian Translated Has Posted: https://bitcointalk.org/index.php?topic=2941942
My wallet IPBC:
bxdAAvdpVQAUDuJGrDduPEEpCQmEDvRfnAct273JCr425eP6wRQBrDphTMpsqYEojJDH6ihuQofhBhr me8853SB334v1a1KMb

Thank's! For Dev and team, long life IPBC

[smartcrypto]

Stop complaining you whiny bunch!! See it as rewards for the early miners...you know the guys that actually supported the network in the beginning. U missed out...now move on!

i was mining the coins. How do you expect it's worth mining. price will be set in satoshi due to current money supply. How do you expect this coin will live, i.e no miners. no investors??
what makes this so hard to understand?

[bankomat_t666]

DEVs, please heed the words of jimlite. He's right. If you do not want to ruin your project at the very beginning, do as he says!

[jimlite]

You are correct. I know what I am talking about and have been hired by devs to coach them thru problems exactly like this (coin metric problems), problems with bad PR, and problems with exchanges not willing to list their coin unless I convince the devs to fix certain things. I have done this for too many alt coins to even remember. A few of the top of my head are Vanilacoin/Vcash,  Denarius (DNR), Quatloo (QTL), Xuro, Pepe/Meme, and countless others. I have dealt with hundreds of alts over the last 5 years and solved all of the jobs I was hired to solve 100% of the time, and they were all a win-win situation. I accept bitcoin or premine bounty of the alt if the dev wants to hire me. Most of the coins I have helped went 10X over a few months on exchanges instead of going negative 10X. After the coin gets thru the first few months problems and reaches a fair, stable, and increasing price, then my job is done. I always hold the coins for months or years depending on the situation and also only sell when the market can support selling coins without driving the price down once their is large enough market cap and volume. If the devs want my help please contact me.  I also do twitter support and promo (usually during the first few months of a coin before high price professional advertising is done). I have over 14,000 all crypto followers (miners, pool ops, exchanges, traders, investors) that follow me @CRYPT0N1TE (the 0 is a zero and the 1 is a one). If devs would like that service or retweeting their news to the entire crypto space, they can also contact me about those services.  I am not some newb or guy trying to get cheap coin or get rich off an alt coin. I am just fine financially, and do this as a passion and hobby. I am over 50 years old and have been involved with coding and building computers for 40 years. I have been involved in crypto for about 5 years and you can see my legendary status and number of posts as well as the same on twitter. I have a few gpus and usually only turn them on to help devs test things or when a new interesting coin seems worth mining, because I pay very high electric rates and just mining the popular coins like eth/zec are at a loss for me. This coin I wanted to mine, because I see it is a good old fashioned POW coin with a real product and appears to have a large hard working team, but the 10k block reward for 23 hours blunder WILL ruin this entire project unless it is dealt with instead of swept under the rug. Mark my words and experience on this.

[bankomat_t666]

Is it possible to restart the project again in order to completely restore the credibility of the project?

[Speedie]

Is it possible to restart the project again in order to completely restore the credibility of the project?

That would be about the quickest way possible to destroy the credibility of the project.

[ZeFGooFy]

Is it possible to restart the project again in order to completely restore the credibility of the project?

No, too late already and it cause more troubles.

[janmenklooten]

it's a shame this beautiful project suffers from a n00b error 10K block reward.