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Author Topic: [ANN][XBR] bitcoinR (bitcoinr.org) | Quantitatively-Flexible Reserve Currency  (Read 3051 times)
fancywarlock
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May 19, 2020, 06:03:01 PM
Last edit: May 20, 2020, 05:16:42 PM by fancywarlock
 #1



Official Website
Official Whitepaper
Official Mining Clients

SUBSCRIBE TO THIS [ANN] THREAD FOR UPDATES.

A Quick Hello:

My name is Nicholas.  I am conflicted about creating this thread, but there is a necessity to announce publicly in order for the bitcoinR network to grow.  My hesitation is borne specifically from the fact that bitcoinR must necessarily and unavoidably challenge the libertarian viewpoint that underlies Bitcoin and many popular altcoins, namely: that most functions must be decentralized.  This fundamentally trustless ethos had been one that I myself espoused for over a decade but is incomplete without a more formalized version of quantitative balance which may be most efficiently instituted by a centralized entity.

This in and of itself is not a new idea; central banks make attempts to stabilize currency at regular intervals; however, they do so without the discipline of a fixed money supply; thus, there is very rarely any deflationary activity and generally when a government prints money the value of existing money goes down.  Bitcoin has the opposite challenge, which is that there is no way to create an inflationary impact to stabilize the price of BTC, the increasing price of which has proven to be partially reliant upon a naturally-occuring deflation; this, combined with other factors can enable price manipulation by large holders.  bitcoinR was developed in an attempt at reaching an equilibrium via the structured simplicity of centralized open market operations.  This will require trust, an unpopular concept due to its historic abuse by certain monetary authorities.

We have all studied or are at least aware of this economic history.  Myself and my team members have been educated at Brown, Harvard, MIT and a fair number of other lesser known but still academically rigorous schools.  We have studied economics, law, cryptography and computer science.  bitcoinR is the result of these learnings, combined with what was accomplished by a small group of individuals over the past four decades that is now best known as Bitcoin; for the former we are grateful to our professors and academic advisors, for the latter we are very much indebted to David, Eric, Gavin, Hal, John, Nick, Paul, Phil, Tim & Wei.

We are hopeful to provide value in a structured, predictable and transparent manner while cooperating fully with regulators in the United States if and when we are asked to do so.  bitcoinR is not a privacy coin, in fact it is the exact opposite.  It is important to get away from the idea that major cryptocurrencies are run by a mysterious shadowy figure whether acting alone or as part of a cohort with an undisclosed profit motive.

As a matter of full disclosure, we do hope to make a return on our time and money investment; however we do not expect this to come quickly or easily, and we will not get there by selling bitcoinR units (XBR) directly to the public outside of an AML/KYC compliant exchange.  For now the public can only obtain units via mining or bounties; and in the latter case they must provide their full name, address and contact information for us to do an AML / KYC check prior to sending the earned bounty units.  More detail may be found in the bitcoinR whitepaper.

We understand that some will choose not to participate in the bitcoinR network as a result of their personal privacy ideal; however, we urge that this decision be predicated upon the idea that privacy even in the Bitcoin network can always be overridden.  Either way, we wish you the very best of luck with mining XBR and do hope that your participation will fuel the attention necessary for creation of intrinsic value, continued gradual growth and eventual institutional momentum.

Thanks,

NS

bitcoinR Overview:

bitcoinR is based largely upon Satoshi’s original design of the technically decentralized Bitcoin blockchain. We paired this improved technology with a centralized economic governance model designed specifically to allow central-bank-like quantitative easing and quantitative tightening within set tolerances. This quantitative flexibility should equate to a more stable money supply, one that is less likely to be manipulated by an unseen hand.

We have chosen to re-begin with a new Genesis block to ensure equal ability for all to accumulate the new virtual currency unit XBR. To have forked and airdropped would have largely defeated the purpose of addressing the high concentrations of BTC through quantitative adjustment.

XBR’s network is called "bitcoinR". In choosing this name, we give credit to Satoshi for their original design, with the newly appended "R" to signify the currency’s "Reserve"-like feature of quantitative flexibility.

Quick bitcoinR Facts:

Algorithm:  SHA-256
Block Halving: 52,500 blocks
Block Reward (initial): 100 XBR
Block Type: Proof of Work (PoW)
Coin Name: XBR
Coin Unit: Satoshi
Coinbase Maturity: 99+1 Default Confirmation Blocks
Initial Address Letter (Mainnet): X
Initial Address Letter (Testnet): B
Last Reward Block: 1,785,000
Network Name: bitcoinR
Node 1: 204.48.17.237 (New York)
Node 2: 167.172.122.211 (San Francisco)
Node 3: 167.99.88.236 (London)
Node 4: 167.172.42.86 (Amsterdam)
Node 5: 206.189.95.138 (Singapore)
Node 6: 167.71.41.67 (Frankfurt)
Node 7: 138.197.143.76 (Toronto)
Node 8: 139.59.63.124 (Bangalore)
P2P Port: 17482
RPC Port: 17481
Supply: 21,000,000 XBR
Supply (minable): 10,500,000
Target Spacing: 5 minutes
Target Timed Difficulty Adjustment: 15 minutes
Transaction Confirmations: 12 blocks


Miscellaneous:

bitcoinR Team
https://www.bitcoinR.org/

(scroll down mid-page)

Whitepaper
https://www.bitcoinR.org/whitepaper

Mining:
https://www.bitcoinR.org/mine

Exchanges:

bitcoinR will apply to AML/KYC exchanges only; we cannot control whether or not foreign or decentralized exchanges eventually trade XBR.

XBR CPU/GPU Mining Videos for Beginners:

Macintosh
Windows

Mining Pools:

To be released in late Q2'2020.  To facilitate gradual growth of hashpower, we first released for CPU mining only.  As of mid-may, it has become fairly difficult for standard CPUs to mine blocks; this occurred more quickly than we would have preferred.  If past is prologue, once we release the mining pool, chances become vanishingly small that even powerful GPUs will retain the ability to mine blocks.  It is for this reason that these announcements have been deliberately and totally staggered and will continue in this manner until bitcoinR can transition entirely to ASIC miners.  We are doing this so some level of equitable distribution can still be maintained.  To do otherwise would be dumb and unfair.  Early release of pools could create the exact challenge that we are attempting to solve.  Thanks for understanding.

Blockchain Explorer:
bitcoinR Block Explorer

AML Compliance and Auditing Firm:
BitAML

Contact Us:

team@bitcoinr.org


bitcoinR.org - The Quantitatively-Flexible Electronic Reserve Currency
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May 19, 2020, 06:10:07 PM
 #2

Pool Huh?
fancywarlock
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May 19, 2020, 06:28:19 PM
 #3

Pool Huh?

Hey Olkah,

Sorry if I didn't make that clear, and further apologies because I might be repeating myself here but the root problem with making the mining pool software available at this point is that it we feel would unfairly concentrate XBR in the hands of very few mining operators.  The good news is that if you have a powerful CPU or a decent GPU, you can mine full blocks yourself.

As of right now, the aggregate hashpower is only 198,389.857 Network (KH/s) and the difficulty is <500.

If one were to unearth some "obsolete" BTC GPU or ASICs, that might work surprisingly well; however, we'd prefer that the ASICS weren't deployed for another 30-45 days or so.

NS

bitcoinR.org - The Quantitatively-Flexible Electronic Reserve Currency
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May 19, 2020, 06:56:43 PM
 #4

where source code?)
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May 19, 2020, 07:06:43 PM
 #5


*ATTENTION! Many new launched coins contains Viruses and Malwares . Some wallets showing a false malware or virus flag because of the integrated miner. Nevertheless we strongly recommend you to scan the wallets before using it. Use as example https://www.virustotal.com/gui/ to scan the files for malicious ware*

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May 19, 2020, 07:49:22 PM
Last edit: July 09, 2020, 01:48:29 PM by mprep
 #6

where source code?)

Sorry, a fresh copy of the deployed source code is located here:

https://github.com/fancywarlock/bitcoinR

NS



<snip>


Sweet!  Thank you.  I was looking for a few additional ways to share this.  I like the structure of your site, check out our bounties page at https://bitcoinr.org/partners/xbr-bounty-hunters/.  For example, we'd happily award a bounty to those who are linguistically skilled enough to translate the ANN thread into the multiple different languages here on BT.

We are happy to pay both media / advertising bounties as well as bug bounties with the obvious caveat that anyone seeking a bounty payment must go through our AML/KYC check.

Thanks again!

NS



[moderator's note: consecutive posts merged]

bitcoinR.org - The Quantitatively-Flexible Electronic Reserve Currency
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May 19, 2020, 09:00:45 PM
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Its completely different idea from bitcoin or other alt coin.So if govt. regulate it then they can impose anything as they want.won't they take tax ?
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May 19, 2020, 09:29:55 PM
 #8

Pool Huh?

Hey Olkah,

Sorry if I didn't make that clear, and further apologies because I might be repeating myself here but the root problem with making the mining pool software available at this point is that it we feel would unfairly concentrate XBR in the hands of very few mining operators.  The good news is that if you have a powerful CPU or a decent GPU, you can mine full blocks yourself.

As of right now, the aggregate hashpower is only 198,389.857 Network (KH/s) and the difficulty is <500.

If one were to unearth some "obsolete" BTC GPU or ASICs, that might work surprisingly well; however, we'd prefer that the ASICS weren't deployed for another 30-45 days or so.

NS

Well, yeah. But for now the hashpower is  5.5 billion (5,496,695,624.208 Network (KH/s) and the difficulty is more than 50 million...
So i think the solo mining with CPU already is out of question....
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May 19, 2020, 09:43:00 PM
 #9

where source code?)

Sorry, a fresh copy of the deployed source code is located here:

https://github.com/fancywarlock/XBR

NS

This is not correct source , This is OLD source based on Bitcoin , Why you lie to people and publish bad code, Wallet on windows is new Bitcoin based source, Please upload correct source, or This is coin a SCAM
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May 19, 2020, 09:57:29 PM
 #10

most of your team members don't include XBR project on their portfolio. can you ask them to include this project if they are indeed part of this project? also, why not create a new name for your coin? why use bitcoin in your name, just to attract users because it has bitcoin in it? most projects that are still attaching bitcoin on their name has no confidence that they will make it without it.

also please address below post :

where source code?)

Sorry, a fresh copy of the deployed source code is located here:

https://github.com/fancywarlock/XBR

NS

This is not correct source , This is OLD source based on Bitcoin , Why you lie to people and publish bad code, Wallet on windows is new Bitcoin based source, Please upload correct source, or This is coin a SCAM


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fancywarlock
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May 19, 2020, 10:51:58 PM
Last edit: July 09, 2020, 02:50:12 PM by mprep
 #11

where source code?)

Sorry, a fresh copy of the deployed source code is located here:

https://github.com/fancywarlock/XBR

NS

This is not correct source , This is OLD source based on Bitcoin , Why you lie to people and publish bad code, Wallet on windows is new Bitcoin based source, Please upload correct source, or This is coin a SCAM

Hi!

Wow.  You're right!  I uploaded the wrong version of the source code from 2018 with the wrong hashing algo and even to the wrong github repository address.  How embarrassing.  Sorry.

Thank you for pointing it out. Again, I really apologize.  What a boneheaded move.

I guess now is as good a time as any to reiterate that if anyone finds something that doesn't quite make sense or is functioning improperly, we are happy to compensate them with an XBR bounty so long as they provide their identity and contact information so we can do an AML/KYC check.

I'm happy to send you some XBR as a bounty for seeing this and bringing it to my attention SCAM-detector-X.

Please send your:

- Name
- Contact Information
- bitcoinR wallet address

The error has been corrected and you can now find the correct source code at https://github.com/fancywarlock/bitcoinR

Thanks again for taking the time to send a note, and to keep users here on BitcoinTalk safe!

NS



most of your team members don't include XBR project on their portfolio. can you ask them to include this project if they are indeed part of this project? also, why not create a new name for your coin? why use bitcoin in your name, just to attract users because it has bitcoin in it? most projects that are still attaching bitcoin on their name has no confidence that they will make it without it.

also please address below post :

where source code?)

Sorry, a fresh copy of the deployed source code is located here:

https://github.com/fancywarlock/XBR

NS

This is not correct source , This is OLD source based on Bitcoin , Why you lie to people and publish bad code, Wallet on windows is new Bitcoin based source, Please upload correct source, or This is coin a SCAM

Hi AmoreJaz,

Thanks for the note.  I'll respond to each of your points below:

1.  The github repository link (https://github.com/fancywarlock/XBR) has been replaced with https://github.com/fancywarlock/bitcoinR. I did make a mistake and published the wrong code to the wrong repository address.  I thanked the user via PM and publicly and will happily send a bounty his/her way (if they choose to disclose their identity for AML/KYC) for pointing out my error.  It was not a good first look on my part- apologies again to the board.

2.  I need to understand your comment about the team members' "portfolios" a bit better please.  I am not sure to what exactly you are referring, but I can assure you that they are all very much a part of the bitcoinR project, and all of whom have signed contracts that indicate that we can publicly associate them via our website and other media.  Please clarify what you are looking for here and I'll see if I can make it happen.

3.  In the early days, our project was not called bitcoinR; and very much to your point, I wrestled with the idea of calling it any name that derived from "Bitcoin"; however, even a cursory examination of our source code will indicate that we haven't changed a great deal from the original Bitcoin code.  Technically, Bitcoin Core and bitcoinR are quite similar with the exception of crypto-economic parameters such as Block Halving, Target Spacing, Target Timed Difficulty Adjustment, Block Halving, # of Transaction confirmations, etc.  If you are scientifically inclined, you'll know that you want to change as few variables as possible when conducting an experiment.  We even left the money supply the same at 21,000,000; but sped up the block time for two reasons: First to accelerate the timeline of the experiment and the Second, to give regular people a shot at mining XBR while they were quarantined due to COVID-19.  So, it really seemed LESS transparent to name our project / experiment something other than bitcoin"X" since the technology is admittedly derivative. 

As for the balance of the name, we added the "R" to ensure that we delineated our project and brand from the original, and to (hopefully) indicate our charge which is to operate a Bitcoin-fork in a manner that is consistent with the way a central bank / reserve bank would operate from a quantitative easing/tightening perspective.  I could go on, but respectfully, all of this is explained in the whitepaper.

-----

So, in summary: we are trying our very best to make something that will be adopted within the market, but we aren't shilling it or promising units of XBR will be worth anything at all.  We are making a level attempt to ensure that we follow all AML/KYC rules in the process.  We aren't going to get everything right in the beginning, and maybe we won't get them right at all; but we will be honest and transparent in the process, and hopefully we will have made something that rewards the active participation of others.

Lastly, please understand that not all innovations are of the technical variety, there are economic and procedural innovations as well.  The real social experiment of bitcoinR is technical de-centralization paired with an economic centralization that requires a trusted party to stabilize unit value.  This is a combination requiring human intervention because we are unaware of a coding algorithm to assimilate, process and assign real world value of items / effort.
 
So, in this way, the bitcoinR project is a very, very different experiment than was Satoshi's Bitcoin (even while it is technically derivative).  In the end, we are not sure that XBR will ever have any value at all and plainly state this on our official website, in the whitepaper and here in the ANN thread.  It's for this reason (and others) that we have chosen to release bitcoinR to the mining community instead of continuing our attempt to understand whether or not XBR would be classified as a security if it were sold. 

Thanks again for the questions.

NS



Pool Huh?

Hey Olkah,

Sorry if I didn't make that clear, and further apologies because I might be repeating myself here but the root problem with making the mining pool software available at this point is that it we feel would unfairly concentrate XBR in the hands of very few mining operators.  The good news is that if you have a powerful CPU or a decent GPU, you can mine full blocks yourself.

As of right now, the aggregate hashpower is only 198,389.857 Network (KH/s) and the difficulty is <500.

If one were to unearth some "obsolete" BTC GPU or ASICs, that might work surprisingly well; however, we'd prefer that the ASICS weren't deployed for another 30-45 days or so.

NS

Well, yeah. But for now the hashpower is  5.5 billion (5,496,695,624.208 Network (KH/s) and the difficulty is more than 50 million...
So i think the solo mining with CPU already is out of question....

Hey Kalyn,

You are absolutely right.  No one here on the team can believe the jump in hashpower and difficulty today.  The hashpower has gone from 198,389 Network (KH/s) to 24,365,170,193 Network (KH/s) in a matter of hours.  This is unexpected and unprecedented; certainly not what we were hoping for.  We wanted a gradual transition from CPU to GPU and from GPU to ASIC in order to ensure regular people had an opportunity to accumulate XBR.  Difficulty is now 159,779,998; the thought of which first delighted us, but then we realized that it is not likely possible to mine a block without a rig.  Sad

Tomorrow I'll reach out to a few GPU miners that were having success last week to see when the last time they were able to mine a block.






Its completely different idea from bitcoin or other alt coin.So if govt. regulate it then they can impose anything as they want.won't they take tax ?

Hey Sherriffin-

Thanks.  We were looking for an Altcoin like this, we couldn't find one so we built bitcoinR as an experiment.

Governments can and do tax crypto.  The bitcoinR network is very transparent and theoretically its movements are easily tracked.  We will never sell XBR except through an AML/KYC licensed exchange and encourage our users to do the same.  Thus, a government should have the ability to easily discern who buys and sells XBR and can tax them appropriately if they choose to do so.

If users are concerned about this, they should not attempt to trade XBR (or BTC or XRP). 

[moderator's note: consecutive posts merged]

bitcoinR.org - The Quantitatively-Flexible Electronic Reserve Currency
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May 20, 2020, 12:17:09 AM
 #12

 https://github.com/fancywarlock/bitcoinR
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May 20, 2020, 07:47:22 AM
 #13



Official Website
Official Whitpaper
Official Mining Clients

SUBSCRIBE TO THIS [ANN] THREAD FOR UPDATES.

A Quick Hello:

My name is Nicholas.  I am conflicted about creating this thread, but there is a necessity to announce publicly in order for the bitcoinR network to grow.  My hesitation is borne specifically from the fact that bitcoinR must necessarily and unavoidably challenge the libertarian viewpoint that underlies Bitcoin and many popular altcoins, namely: that most functions must be decentralized.  This fundamentally trustless ethos had been one that I myself espoused for over a decade but is incomplete without a more formalized version of quantitative balance which may be most efficiently instituted by a centralized entity.

This in and of itself is not a new idea; central banks make attempts to stabilize currency at regular intervals; however, they do so without the discipline of a fixed money supply; thus, there is very rarely any deflationary activity and generally when a government prints money the value of existing money goes down.  Bitcoin has the opposite challenge, which is that there is no way to create an inflationary impact to stabilize the price of BTC, the increasing price of which has proven to be partially reliant upon a naturally-occuring deflation; this, combined with other factors can enable price manipulation by large holders.  bitcoinR was developed in an attempt at reaching an equilibrium via the structured simplicity of centralized open market operations.  This will require trust, an unpopular concept due to its historic abuse by certain monetary authorities.

We have all studied or are at least aware of this economic history.  Myself and my team members have been educated at Brown, Harvard, MIT and a fair number of other lesser known but still academically rigorous schools.  We have studied economics, law, cryptography and computer science.  bitcoinR is the result of these learnings, combined with what was accomplished by a small group of individuals over the past four decades that is now best known as Bitcoin; for the former we are grateful to our professors and academic advisors, for the latter we are very much indebted to David, Eric, Gavin, Hal, John, Nick, Paul, Phil, Tim & Wei.

We are hopeful to provide value in a structured, predictable and transparent manner while cooperating fully with regulators in the United States if and when we are asked to do so.  bitcoinR is not a privacy coin, in fact it is the exact opposite.  It is important to get away from the idea that major cryptocurrencies are run by a mysterious shadowy figure whether acting alone or as part of a cohort with an undisclosed profit motive.

As a matter of full disclosure, we do hope to make a return on our time and money investment; however we do not expect this to come quickly or easily, and we will not get there by selling bitcoinR units (XBR) directly to the public outside of an AML/KYC compliant exchange.  For now the public can only obtain units via mining or bounties; and in the latter case they must provide their full name, address and contact information for us to do an AML / KYC check prior to sending the earned bounty units.  More detail may be found in the bitcoinR whitepaper.

We understand that some will choose not to participate in the bitcoinR network as a result of their personal privacy ideal; however, we urge that this decision be predicated upon the idea that privacy even in the Bitcoin network can always be overridden.  Either way, we wish you the very best of luck with mining XBR and do hope that your participation will fuel the attention necessary for creation of intrinsic value, continued gradual growth and eventual institutional momentum.

Thanks,

NS

bitcoinR Overview:

bitcoinR is based largely upon Satoshi’s original design of the technically decentralized Bitcoin blockchain. We paired this improved technology with a centralized economic governance model designed specifically to allow central-bank-like quantitative easing and quantitative tightening within set tolerances. This quantitative flexibility should equate to a more stable money supply, one that is less likely to be manipulated by an unseen hand.

We have chosen to re-begin with a new Genesis block to ensure equal ability for all to accumulate the new virtual currency unit XBR. To have forked and airdropped would have largely defeated the purpose of addressing the high concentrations of BTC through quantitative adjustment.

XBR’s network is called "bitcoinR". In choosing this name, we give credit to Satoshi for their original design, with the newly appended "R" to signify the currency’s "Reserve"-like feature of quantitative flexibility.

Quick bitcoinR Facts:

Algorithm:  SHA-256
Block Halving: 52,500 blocks
Block Reward (initial): 100 XBR
Block Type: Proof of Work (PoW)
Coin Name: XBR
Coin Unit: Satoshi
Coinbase Maturity: 99+1 Default Confirmation Blocks
Initial Address Letter (Mainnet): X
Initial Address Letter (Testnet): B
Last Reward Block: 1,785,000
Network Name: bitcoinR
Node 1: 204.48.17.237 (New York)
Node 2: 167.172.122.211 (San Francisco)
Node 3: 167.99.88.236 (London)
Node 4: 167.172.42.86 (Amsterdam)
Node 5: 206.189.95.138 (Singapore)
Node 6: 167.71.41.67 (Frankfurt)
Node 7: 138.197.143.76 (Toronto)
Node 8: 139.59.63.124 (Bangalore)
P2P Port: 17482
RPC Port: 17481
Supply: 21,000,000 XBR
Supply (minable): 10,500,000
Target Spacing: 5 minutes
Target Timed Difficulty Adjustment: 15 minutes
Transaction Confirmations: 12 blocks


Miscellaneous:

bitcoinR Team
https://www.bitcoinR.org/

(scroll down mid-page)

Whitepaper
https://www.bitcoinR.org/whitepaper

Mining:
https://www.bitcoinR.org/mine

Exchanges:

bitcoinR will apply to AML/KYC exchanges only; we cannot control whether or not foreign or decentralized exchanges eventually trade XBR.

XBR CPU/GPU Mining Videos for Beginners:

Macintosh
Windows

Mining Pools:

To be released in late Q2'2020.  To facilitate gradual growth of hashpower, we first released for CPU mining only.  As of mid-may, it has become fairly difficult for standard CPUs to mine blocks; this occurred more quickly than we would have preferred.  If past is prologue, once we release the mining pool, chances become vanishingly small that even powerful GPUs will retain the ability to mine blocks.  It is for this reason that these announcements have been deliberately and totally staggered and will continue in this manner until bitcoinR can transition entirely to ASIC miners.  We are doing this so some level of equitable distribution can still be maintained.  To do otherwise would be dumb and unfair.  Early release of pools could create the exact challenge that we are attempting to solve.  Thanks for understanding.

Blockchain Explorer:
bitcoinR Block Explorer

AML Compliance and Auditing Firm:
BitAML

Contact Us:

team@bitcoinr.org



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ozing
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May 20, 2020, 09:22:17 AM
 #14

It is a good thing if we have something very similar to BTC, and the unique part of this project is the centralized aspect. I personally believe there is a secret government that is controlling BTC so, bringing it to the open with a project like this is a welcome development.

INVALID BBCODE: close of unopened tag in table (1)
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May 20, 2020, 09:56:05 AM
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You have chosen a bad time for bringing a new project in the cryptocurrency world, it’s really tough to get a positive response from across the pandemic world, whatever the case is, your project looks potential for the future perspectives.

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May 20, 2020, 11:19:43 AM
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It's self contradictory that you are saying that you are following the original satoshi’s design but in an improved way? Why haven't you followed the original one? Do you think the base one is not updated?
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May 20, 2020, 11:35:04 AM
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Hi dev, this project sounds very interesting and quite new to cryptoworld. hope this project will get the success.I have an eye on it.
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May 20, 2020, 01:22:06 PM
 #18

So far a Nice project,  It’s really good to see that this project is focusing on some risk factors along with manipulation of the currency price, let’s see how they could cover these factors.

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May 20, 2020, 01:33:11 PM
Last edit: July 09, 2020, 02:57:35 PM by mprep
 #19

It is a good thing if we have something very similar to BTC, and the unique part of this project is the centralized aspect. I personally believe there is a secret government that is controlling BTC so, bringing it to the open with a project like this is a welcome development.

Hey Ozing,

Thank you for the kind words; yes, we did try to honor the original design of BTC with XBR by keeping consensus decentralized while centralizing the economic parameters.  Regarding the idea that a "secret government" controls BTC, I think that it is unlikely that any sovereign nation exercises direct control over Bitcoin Core; however, I do think it is possible that there could be some indirect control by certain countries where lines blur between the private and public sector.

Regardless, the backend economics of Bitcoin that may be manipulated by a loose federation of non-transparent entities is the challenge that we were looking to solve.  There is no question that Bitcoin Core will always be the original and the champion of all crypto; however, that does not negate the need for a transparent, quantitatively flexible version of Bitcoin which is bitcoinR.

There is room in the ecosystem for both BTC and XBR.



You have chosen a bad time for bringing a new project in the cryptocurrency world, it’s really tough to get a positive response from across the pandemic world, whatever the case is, your project looks potential for the future perspectives.



Hey cooltoadfrommmoon,

Appreciate your input; but we must politely disagree regarding the bad timing.  The COVID-19 pandemic was the perfect time to release the CPU miner to the general public because they were stuck at home for quarantine.  While some were lucky enough to retain their jobs, other folks lost their jobs entirely and had no way to compensate themselves- yet, they still had time on their hands and a computer that they could use to mine XBR. 

Interestingly enough, when we announced the project via Twitter, LinkedIn and Facebook, we were met with varying interest by audiences that didn't understand what crypto or mining was.  Most people ignored the announcement, but many did not and those individuals successfully mined a few thousand blocks using their laptops, Macbooks and regular desktops that they would normally just use to browse Facebook or update their resumes in MS Office.

You can get a rough idea of how popular the CPU mining videos were by checking out the initial two CPU mining videos on the bitcoinR YouTube Channel.  The Mac mining video had a little over 7k views and the Windows video had a little over 5k views.

Until yesterday morning the difficulty was <500 and as of right now it is 724,592,054; and while one cannot just success by hashpower and difficulty alone, I do believe it is directionally indicative of a project that may succeed in the long run.



It's self contradictory that you are saying that you are following the original satoshi’s design but in an improved way? Why haven't you followed the original one? Do you think the base one is not updated?


Hey NITER2018,

Thanks for the note.  I'm struggling a bit to understand your question, XBR is not intended to replace, supplant or challenge BTC.  Our hope is that it may prove to be a fairly price stabilized (+/- 15%) alternative as a store of value and medium of exchange when the market is getting hysterical and BTC is commanding crazy high prices or has become artificially depressed.

To address some of your points directly.

1.  We forked Bitcoin prior to Satoshi's genesis block, thereby creating an entirely new blockchain with zero history shared with Bitcoin Core.  In this way; we are not technically identical to Bitcoin Core, but share 99% of Bitcoin Core's DNA.

2.  I'm usually careful about calling our changes "improvements" because to do so would likely be interpreted as little more than self-aggrandizing propaganda.  That said, it is important to "talk one's own book" because it is important to recruit new supporters for the project to effectively exceed XBR's Dunbar number, a threshold that I believe we have crossed at this juncture. 

3.  Do I think "the base is not updated"?  No.  The Bitcoin Core source code is lovingly maintained, far more than is the bitcoinR source code at this time.  Code maintenance beyond initial commits is generally a community function.  As the XBR community grows, perhaps the maintenance of our code base will approach the quantity and quality of the code commits by the BTC community; but I do not rank the probability of a 1:1 XBR to BTC code-commit frequency to be very high in the short run or the long run. 

Said another way, we have a long way to go before the size and active participation of the bitcoinR community reaches parity with that of Bitcoin Core; a goal that is not impossible, nor is it terribly probable.

Long story short, bitcoinR is not a new idea, rather it is a combination of Bitcoin Core, the old Chaumian central mint ideas from the 1980s and 1990s and the old / established processes described in the 2nd Edition of The Federal Reserve System: Its Purposes and Functions authored collectively by The Board of Governors of the Federal Reserve System in November of 1947.

NS

[moderator's note: consecutive posts merged]

bitcoinR.org - The Quantitatively-Flexible Electronic Reserve Currency
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May 20, 2020, 02:41:36 PM
 #20

Why you don't make this cryptocurrency on CPU mining algo at first place?
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