[ANN] "Cubits" V2 (QBT) Sha256D POW

[braveryraptor]

As I count down the minutes to my first 100,000 QBT, I've been reflecting on the fact that we still don't have any idea where this coin is going to go..if anywhere. So I'll probably be turning my miner to other coins soon, just so I can see a little more of a return

[mogrith]

Not a bad nestegg unless it never exchanges or is at devcoin levels.

[braveryraptor]

or is at devcoin levels.

Oh god no! Devcoin levels for Devcoin only! lol

[mogrith]

I would rather have them as a collectible coin for barter than have this be a devcoin.

I don't see any reason it should be that low anyway.

[daemonfox]

I would rather have them as a collectible coin for barter than have this be a devcoin.

I don't see any reason it should be that low anyway.

Considering that 8-9 days after the halving happened at 78500 blocks... there will only remain 11.6875% of total coins left to mine...

Unless this gets fixed in the next few days... you can bet the value of each QBT will be about what it cost me t mine each of my 200K... about 50 Satoshis each. Less with BTC approaching $300.

[cassieheart]

It would be a good idea for you all to stop mining cubits until we get this fixed. No point in wasting ant more hashes or electricity.

[mogrith]

ok

[theprofileth]

If you wanna make amends you could always just implement demurrage for x number of blocks (and then none after) to cut everyone's coin count down

[MaGNeT]

It would be a good idea for you all to stop mining cubits until we get this fixed. No point in wasting ant more hashes or electricity.

What do you mean by that? I hope not a restart, after 3 days of 24/7 mining?

[Sampey]

It would be a good idea for you all to stop mining cubits until we get this fixed. No point in wasting ant more hashes or electricity.

What do you mean by that? I hope not a restart, after 3 days of 24/7 mining?

I Hope no 

[daemonfox]

What she means is, the more you mine now... the more you are devaluing this coin.

If you stop now... that leaves more coins to be mined when the difficulty is fixed... making more incentive for miners to come back to this coin later.

If you keep mining now, then there will be precious few coins left to mine giving people very little incentive to actually point hashes this way... and killing any chance of any value for QBT.

[Sampey]

Any news from dev?

[theprofileth]

I still think mandatory demurrage for x number of blocks is in order to deflate this fat balloon before it pops.
Probably wanna just do like 1% per block for like 100 blocks that should get you down to 1/3 of all coins produced then I suggest if you wanna be fancy, then do continual demurrage of .00001% that is drained into miner fees thus this coin would actually have something unique  
actually that sounds pretty cool
.00001% of all coins around getting put into each block  
that way every 10000 blocks (38.19 days) everyone is down to 90%
and after a year or about 100000 blocks everyone is down to 1/3 thus people will either need to mine or trade

[RyZombie]

Anybody Interested In buying some Cubits?

I have some for sale, PM me your offers.

[poplolnman]

WTS 56000 QBT cubits for 0.18 btc

[cassieheart]

Updates are coming soon....Working as fast as we can.  We just need to make sure everything is fixed this time before we release. 

[Sampey]

Updates are coming soon....Working as fast as we can.  We just need to make sure everything is fixed this time before we release. 

Any idea about release date?

[dreamwatcher]

Pool Update:

I was starting to have quite a bit of trouble with eloipool, so I finally found a vanilla stratum back end that with a bit of modification works with QBT.

Added Bonus: Vardiff works with this back end, so vardiff is now active on the pool. Difficulty range of 1 - 10.

http://qbtcoin.com

[Sampey]

we are near block 130K any news about the fix?

[daemonfox]

Updates are coming soon....Working as fast as we can.  We just need to make sure everything is fixed this time before we release. 

You should put some info out there...

Is the chain going to roll back?
If so, to where?
Do you have an estimate on new release?

People who are mining it now will be affected so if there is going to be a roll back... they need to know to stop mining it ASAP.