GB Coin: Real Team & Workshops & Financial Goals

[tic-tac-totoro]

We've hard-coded the premine to make it very simple, so we'll be premining only a few hundreds blocks or so.

1% premine is actually pretty large given the coin specs. 1% premine equals 600000/20 = 30000 blocks which will take 60000 minutes to mine. That's 1000 hours or almost 42 days of mining.

I meant that for the normal miners it'll take 42 days for the network to mine the amount of coins which are premined. Whatever method you use and how many blocks it takes to do the premine is pretty much irrelevant to this.

[1715556578]

1715556578

[1715556578]

1715556578

[Crypto-t]

I'm sure you've noticed that many coins die or are relaunched to revive interest in them. Right from the outset we devised a strategy that would ensure this coin survived and thrived.

For example, we are running weekly workshops throughout Britain, first one next Saturday: http://blog.gbcoinfoundation.org/first-free-crypto-currency-workshop-12th-april-2014/

During the workshops we are giving away free GB Coins to get people interested in the coin.

Also in the workshops, Adrian gives free mining advice: http://blog.gbcoinfoundation.org/do-you-need-mining-help/

We are also giving away 5,000 to 10,000 coins per month on the forum for promotional bounties, like press releases, blog pots, videos, etc: http://forum.gbcoinfoundation.org/showthread.php/7-GB-Coin-Promotional-Bounties

The breakdown of the premine is here: http://blog.gbcoinfoundation.org/the-1-gb-coin-premine/

Keep in mind most of the premine is used to promote the coin. Once the coin is launched and workshops begin, the publicity will roll in which will help increase the price of the coin - that benefits every one involved in the coin!

The Team (http://blog.gbcoinfoundation.org/the-gb-coin-team/) are working on GB Coin part time, but when we get the coin to £3+ and it becomes reasonably stable, the Team will work on the coin full time. Part of the premine will help fund the salaries of the team. We believe our strategy is one of the best for alternative coins and will help propel this coin forward very quickly.

We've hard-coded the premine to make it very simple, so we'll be premining only a few hundreds blocks or so.

1% premine is actually pretty large given the coin specs. 1% premine equals 600000/20 = 30000 blocks which will take 60000 minutes to mine. That's 1000 hours or almost 42 days of mining.

I meant that for the normal miners it'll take 42 days for the network to mine the amount of coins which are premined. Whatever method you use and how many blocks it takes to do the premine is pretty much irrelevant to this.

[raskul]

I'd advise anyone looking to mine a coin with any kind of pre-mine, be cautious.
1% sounds not a lot, but it is actually quite big a pre-mine. I'm British and I don't want to be 'given' any of these coins.
I may decide to mine them, because every coin should simply rely on the commitment of it's community and it's miners, to survive, and not just giveaways.

if you are pre-mining a coin and giving it away, that values it, from it's beginnings, at ZERO.
This coin, to me, is worthless.

[Crypto-t]

We totally disagree.

If you look at our official home page, blog, Facebook, Twitter, you can see we are taking a very professional approach to releasing this coin.

http://gbcoinfoundation.org/
http://blog.gbcoinfoundation.org/
http://forum.gbcoinfoundation.org/
https://www.facebook.com/gbcoinfoundation
https://twitter.com/gbcoin

We are clearly in this for the long-term.

There are many faucets that give away free coins and that does not undermine the value of the coins.

There are many dynamics involved in making a successful coin, and we believe we have most of them covered.

We know for a FACT we will be getting local and national press, and when that happens, interest in the coin will grow exponentially.

I'd advise anyone looking to mine a coin with any kind of pre-mine, be cautious.
1% sounds not a lot, but it is actually quite big a pre-mine. I'm British and I don't want to be 'given' any of these coins.
I may decide to mine them, because every coin should simply rely on the commitment of it's community and it's miners, to survive, and not just giveaways.

if you are pre-mining a coin and giving it away, that values it, from it's beginnings, at ZERO.
This coin, to me, is worthless.

[raskul]

thanks, but i'll stick to bitcoin. that is a crypto-currency that I can spend (in case you hadn't heard of it).

[Crypto-t]

thanks, but i'll stick to bitcoin. that is a crypto-currency that I can spend (in case you hadn't heard of it).

[Eastwind]

From what I read above, the GB coin should not be another clone.

I think you should not premine to give miners/societies the confidence that the premined coins will be dumped to the market soon after listing. In order to achieve that, I would suggest that you  program the wallet/mining process that for the first 10 million coins, 6% (600,000) of the mined coins will go to specific wallets/addresses controlled by developers or trusted people. That is for every block mined, 1.2 coins will be sent to various addresses. This process will take 692 days if the actual block time is kept at 2 mins and not block halving.

These 600,000 can be released slowly to developers and give-away. If we can keep developers paid in long term, they will be more motivated as their remuneration will be dependent on the long term success of the coin, not just short term mine-pump-dump.

It might take some time to implement this and delay the launch. But it is worth it.

I hope this will be a successful project and the coin will be used widely in UK and the world.

[Casu]

thanks, but i'll stick to bitcoin. that is a crypto-currency that I can spend (in case you hadn't heard of it).

You appear to be in the wrong sub-forum in that case.

[Casu]

thanks, but i'll stick to bitcoin. that is a crypto-currency that I can spend (in case you hadn't heard of it).

You appear to be in the wrong sub-forum in that case.

pedant. who needs another shit country-coin? hell, 'GB' are falling over themselves to break apart, and here we have yet another crap coin trying to be different, when in actual fact, it's no different from any other shitcoin - with a pre-mine. it's pointless. if the dev's wanted to educate people about crypto's and have group hugs or whatever you want to call it.. then they should have chosen an existing coin, let people decide for themselves, instead of ramming another new coin down people's throats.

again, a pointless exercise and a total waste of time.

Not sure how my post was pedantic. You might very well have a point about country coins, but coming into the alt-coin forum and telling people you'll stick to bitcoin is like walking into a butchers and proclaiming you're going to stick to vegetables

[raskul]

thanks, but i'll stick to bitcoin. that is a crypto-currency that I can spend (in case you hadn't heard of it).

You appear to be in the wrong sub-forum in that case.

pedant. who needs another shit country-coin? hell, 'GB' are falling over themselves to break apart, and here we have yet another crap coin trying to be different, when in actual fact, it's no different from any other shitcoin - with a pre-mine. it's pointless. if the dev's wanted to educate people about crypto's and have group hugs or whatever you want to call it.. then they should have chosen an existing coin, let people decide for themselves, instead of ramming another new coin down people's throats.

again, a pointless exercise and a total waste of time.

Not sure how my post was pedantic. You might very well have a point about country coins, but coming into the alt-coin forum and telling people you'll stick to bitcoin is like walking into a butchers and proclaiming you're going to stick to vegetables

well, of course, you are right. i currently have 115GH/s pointed at an alt-multipool, for the whole purpose of trading the alts it mines into bitcoin.
that's what alts are for, is it not?

[TR8888]

Launch date?

[Crypto-t]

Latest blog post: http://blog.gbcoinfoundation.org/openssl-exploit-in-bitcoin-and-other-coins/

An exploit has been identified in openssl that allows attackers (hackers) to potentially extract sensitive data; although the full effect on Bitcoin and alt coins does not seem to be as significant as the press are making out.

[Crypto-t]

Lastest blog post: http://blog.gbcoinfoundation.org/100-million-in-profit-and-zero-in-corporate-tax/

Again, after the Amazon, Starbucks, eBay, Google and other business tax avoidance scams comes Caffe Nero’s nice little number.

Since 2007, Caffe Nero hasn’t anything in corporation tax even though it made over £100 million in profit. Another example of a two-tiered tax system: one for them and one for us.

[Crypto-t]

Friday 11th April, at 7pm GMT. More details soon.

Launch date?

[icecube45]

Friday 12th April, at 7pm GMT. More details soon.

Launch date?

you mean the 11th? or Saturday?

[Crypto-t]

Ooops, yep, 11th April. Will start the countdown today.

Friday 12th April, at 7pm GMT. More details soon.

Launch date?

you mean the 11th? or Saturday?

[Crypto-t]

The countdown begins... http://blog.gbcoinfoundation.org/the-countdown-begins-for-the-launch-of-gb-coin/

[gaazje]

Looks promising!

[Crypto-t]

Thanks!

If you're mining, wallets will be uploaded, zipped and password-protected prior to launch.

Looks promising!

[lolcoind]

http://gb.okaypool.com/

Reward System: Full Stratum/Vardiff system with PPLNS
Server Location: Europe / America
Pro Hardware: Connections: 10 gigabit network hypervisor/storage. Direct connection to AIMX, MSX
Storage: Fast ZFS based environment with SSD cache and 32 disks.
CPU: Xeon 64bit / 16 powerful CPU cores
Ram: 128 GB RAM.

Security:
Two different geo-locations Hot wallets (primary and instant back-up).
Offline secured cold Wallet.
Automated back-ups and warning system for operators.
Ddos protecion.