[ANN] [BTQ] BitQuark | Super secure hashing | CPU mining

[BitQuark]

How does the BTQ community feel about cutting the BitQuark supply in half from 21,000,000 down to 10,500,000 + inflation?? It would also halve every 2 years instead of every 4 years. It would look something like this:

1-2 years   : (7200*365)*2=5,256,000
2-4 years  : (3600*365)*2=2,628,000
4-6 years  : (1800*365)*2=1,314,000
6-8 years  : (900*365)*2=657,000
8-10 years : (450*365)*2=328,500
10-12 years : (225*365)*2=164,250
12-14 years : (112.5*365)*2=105,000

Total = 10,452,750 BTQ +105,000 yearly for inflation

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[techsolution]

for what reason? 21m is not ok, nobody will be interested in so small amount, just my thoughts

[spatula]

Been researching x11 cryptos. It's pretty clear Scrypt algos, unless they hard fork, are going to fall at the hands of ASIC miners and coin rapists (probably funded and run by central banks who want to kill crypto currencies altogether). BTQ is ASIC resistant by employing the Quark algo (essentially x9) but even x11 is rumored to have ASICS knocking at the door possibly within just a couple of years.

Thinking long term, how prepared is BTQ to hard fork if the time comes to slam the door on ASIC coin killers? IMHO, public confidence is going to hinge on it.

I've been working on trying to integrate Nfactor into the Quark algorithm. If I can do this, it would definitely make BitQuark CPU only!

I think we've identified the new top priority for BTQ. Has anyone else done it, or married Nf/x11?

From my research, it doesn't look like anyone has attempted it yet. So if I can get it to work, it will be the first of its kind making BitQuark unique

If this is possible, it would bring serious interest to the coin. I agree this should be top priority.

[cryptomines]

What is the reasoning behind possibly changing total amount of coins? Perhaps consider changing how the block reward reduction works. A gradual decline over the years until the yearly inflationary value of 1045,000 btq is reached. IMO, block halving could have negative affects on network security if the coins value hasn't risen enough to cover such a sharp drop that occurs with reward halving. As for algo change, It may be good to have options on the table but I don't think rushing to change is a good idea. Nothing will ever be CPU only, its been proven time and time again. BTQ's current algo is mined very well with nvidia cards which should be capitalized on by BTQ. All just my 2 satoshi of course.

Does anyone know how long it takes for btq to be added to comkort?

[ZeroFossilFuel]

I concur that making such large changes to the overall coin strategy conveys to the public a flimsy foundation. I may be replacing all my 7950's for 750ti real soon! And yes, what seems to be the holdup at Comkort? Are they adopting the Lazycoins business model now?

[BitQuark]

The distribution change was just a thought, but You guys a right, it doesn't need to be changed. I will work on merging N-factor into the Quark algo and if I can get it to work I will hold on to it til the time it is needed.

Not sure how long it takes for Comkort to add new coins, but I just sent them a tweet asking how long before BTQ is added.

On another note, does anyone know anyone who is good with making Android apps??

[cbuchner1]

Been researching x11 cryptos. It's pretty clear Scrypt algos, unless they hard fork, are going to fall at the hands of ASIC miners and coin rapists (probably funded and run by central banks who want to kill crypto currencies altogether). BTQ is ASIC resistant by employing the Quark algo (essentially x9) but even x11 is rumored to have ASICS knocking at the door possibly within just a couple of years.

Thinking long term, how prepared is BTQ to hard fork if the time comes to slam the door on ASIC coin killers? IMHO, public confidence is going to hinge on it.

I've been working on trying to integrate Nfactor into the Quark algorithm. If I can do this, it would definitely make BitQuark CPU only!

huh? Quark is not memory hard. Increasing the number of rounds can't help. The GPU always keeps its advantage, unless you invent something that makes it do random lookups in huge tables (think gigabytes...).

[BitQuark]

Just got an email from Comkort and BitQuark will be added during the day tomorrow

[ZeroFossilFuel]

Just got an email from Comkort and BitQuark will be added during the day tomorrow

Well it's ABOUT TIME!
Can't help you with an Android developer. If you find one let me know. I have some killer app ideas.

And it's nice to know Christian checks in on us once in a while. Isn't it? LOL!

[BitQuark]

Just got an email from Comkort and BitQuark will be added during the day tomorrow

Well it's ABOUT TIME!
Can't help you with an Android developer. If you find one let me know. I have some killer app ideas.

And it's nice to know Christian checks in on us once in a while. Isn't it? LOL!

Yeah I know right lol...I saw your tweet to LazyCoins yesterday and I saw that they favorited it LOL

[chopper873]

Just got an email from Comkort and BitQuark will be added during the day tomorrow

Thanks for letting us know in advance. The price should go high tomorrow when it hits Comkort.

[ZeroFossilFuel]

Yeah I know right lol...I saw your tweet to LazyCoins yesterday and I saw that they favorited it LOL

Right! And he STILL hasn't gotten off his lazyass! 

[BitQuark]

Yeah I know right lol...I saw your tweet to LazyCoins yesterday and I saw that they favorited it LOL

Right! And he STILL hasn't gotten off his lazyass! 

LMFAO I know that's right!!!

[BitQuark]

Just got an email from Comkort and BitQuark will be added during the day tomorrow

Thanks for letting us know in advance. The price should go high tomorrow when it hits Comkort.

I hope so cuz we could really use a boost in price right now.

[BitQuark]

On a side note, the Winklevoss twins should help boost all cryptocurrencies this year once the Bitcoin ETF hits Wall Street!!! So right now would be a great time to invest in cryptos, before Wall Street jumps in the game and pumps Bitcoin to the moon! Since all cyrpto prices are linked to BTC, this will cause a ripple effect and cause many cryptos to sour to new highs! Hopefully BitQuark will join the frenzy!!! :-)

Exciting times ahead!!!!!!

[ZeroFossilFuel]

On a side note, the Winklevoss twins should help boost all cryptocurrencies this year once the Bitcoin ETF hits Wall Street!!! So right now would be a great time to invest in cryptos, before Wall Street jumps in the game and pumps Bitcoin to the moon! Since all cyrpto prices are linked to BTC, this will cause a ripple effect and cause many cryptos to sour to new highs! Hopefully BitQuark will join the frenzy!!! :-)

Exciting times ahead!!!!!!

Company I used to work for in the radio communications industry (WPCS, International) who sold our division to the f^&*g owners of Kavveri Telecom, India refocused their business model late last year and bought a small startup called BTX Trader LLC who designed a Bitcoin trading platform for serious traders. Operates on multiple exchanges at the same time. It's the big leagues for Bitcoin. Good thing it's we who now control the amount of currency in circulation and not central banks. No more quantitative "easing".

Get in now or get left behind.

http://www.foxbusiness.com/technology/2013/12/27/wpcs-launches-beta-version-bitcoin-trading-platform/

[DannyTom]

How does the BTQ community feel about cutting the BitQuark supply in half from 21,000,000 down to 10,500,000 + inflation?? It would also halve every 2 years instead of every 4 years. It would look something like this:

1-2 years   : (7200*365)*2=5,256,000
2-4 years  : (3600*365)*2=2,628,000
4-6 years  : (1800*365)*2=1,314,000
6-8 years  : (900*365)*2=657,000
8-10 years : (450*365)*2=328,500
10-12 years : (225*365)*2=164,250
12-14 years : (112.5*365)*2=105,000

Total = 10,452,750 BTQ +105,000 yearly for inflation

Don't do it.  EBT cut their coin supply in half and moved to POS and the value jumped up for a day or two then went right back to where it was, even lower in fact.

Besides, let's assume 1 milliion people each have 2 BTQ coins, and are actively using them to buy and spend on items, goods, services, and whatnot, they will be micro transacting if it's successfully used for everyday items.

I'm not even going to think I'm as versed as some when it comes to economics or cryptos in general, I just think halving the coin supply total is a bad idea and will only bring short term profit for dumpers.

[BitQuark]

How does the BTQ community feel about cutting the BitQuark supply in half from 21,000,000 down to 10,500,000 + inflation?? It would also halve every 2 years instead of every 4 years. It would look something like this:

1-2 years   : (7200*365)*2=5,256,000
2-4 years  : (3600*365)*2=2,628,000
4-6 years  : (1800*365)*2=1,314,000
6-8 years  : (900*365)*2=657,000
8-10 years : (450*365)*2=328,500
10-12 years : (225*365)*2=164,250
12-14 years : (112.5*365)*2=105,000

Total = 10,452,750 BTQ +105,000 yearly for inflation

Don't do it.  EBT cut their coin supply in half and moved to POS and the value jumped up for a day or two then went right back to where it was, even lower in fact.

Besides, let's assume 1 milliion people each have 2 BTQ coins, and are actively using them to buy and spend on items, goods, services, and whatnot, they will be micro transacting if it's successfully used for everyday items.

I'm not even going to think I'm as versed as some when it comes to economics or cryptos in general, I just think halving the coin supply total is a bad idea and will only bring short term profit for dumpers.

Yea I agree! It was just an idea that I didn't fully think through, but BTQ will remain at 21 Million coins + inflation :-)

[DannyTom]

On a side note, the Winklevoss twins should help boost all cryptocurrencies this year once the Bitcoin ETF hits Wall Street!!! So right now would be a great time to invest in cryptos, before Wall Street jumps in the game and pumps Bitcoin to the moon! Since all cyrpto prices are linked to BTC, this will cause a ripple effect and cause many cryptos to sour to new highs! Hopefully BitQuark will join the frenzy!!! :-)

Exciting times ahead!!!!!!

I'm actually not excited about this long term.  I think in order for any coin to succeed it eventually needs to break away from having it's value tied to BTC and stand on it's own.  How many BitQuarks will it take to get me a new set of tires for my truck?  How much BTQ will you give me to cut your grass?

Right now people think of alt-coins in terms of how much BTC and I trade them up for and how much can I cash my BTC in for dollars?

While the Bitcoin ETF may get BTC back up to $1200 and thereby raise the price of all alt-coins, I think long term alts need to break away from BTC.

[BitQuark]

On a side note, the Winklevoss twins should help boost all cryptocurrencies this year once the Bitcoin ETF hits Wall Street!!! So right now would be a great time to invest in cryptos, before Wall Street jumps in the game and pumps Bitcoin to the moon! Since all cyrpto prices are linked to BTC, this will cause a ripple effect and cause many cryptos to sour to new highs! Hopefully BitQuark will join the frenzy!!! :-)

Exciting times ahead!!!!!!

I'm actually not excited about this long term.  I think in order for any coin to succeed it eventually needs to break away from having it's value tied to BTC and stand on it's own.  How many BitQuarks will it take to get me a new set of tires for my truck?  How much BTQ will you give me to cut your grass?

Right now people think of alt-coins in terms of how much BTC and I trade them up for and how much can I cash my BTC in for dollars?

While the Bitcoin ETF may get BTC back up to $1200 and thereby raise the price of all alt-coins, I think long term alts need to break away from BTC.

I totally agree and I hope we can do just that with BitQuark. When I first developed BTQ, my intentions were to try and break the BTC link, but this can only be achieved by the miners/users of BitQuark. As they have to be the ones to break the link. It's almost like the USD as the World Reserve Currency...it MUST fall & no longer be linked to another currency!!! BitQuark miners/users should just trade BTQ's based on supply and scarcity of the coin...in other words, we need to set it's price & weight for products and services! It will and has to start with us! Break loose from the chains that bind us! Agree??